CT Real Estate Investment Trust (TSE:CRT.UN) Reaches New 1-Year High – Here’s What Happened

Shares of CT Real Estate Investment Trust (TSE:CRT.UN) reached a new 52-week high during mid-day trading on Friday . The company traded as high as C$18.88 and last traded at C$18.84, with a volume of 15407 shares. The stock had previously closed at C$18.69.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Desjardins lifted their price objective on CT Real Estate Investment Trust from C$18.00 to C$19.00 and gave the stock a “hold” rating in a report on Wednesday, May 13th. Raymond James Financial raised their target price on CT Real Estate Investment Trust from C$18.75 to C$19.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. Scotia boosted their price target on CT Real Estate Investment Trust from C$17.00 to C$18.50 and gave the company a “sector perform” rating in a research note on Wednesday, May 13th. Finally, TD upped their price target on shares of CT Real Estate Investment Trust from C$17.50 to C$18.00 and gave the company a “hold” rating in a research report on Wednesday, May 13th. Eight research analysts have rated the stock with a Hold rating, According to MarketBeat.com, CT Real Estate Investment Trust presently has a consensus rating of “Hold” and a consensus price target of C$17.90.

CT Real Estate Investment Trust Trading Up 0.4%

The stock has a fifty day moving average of C$18.06 and a 200 day moving average of C$17.32. The company has a market capitalization of C$4.47 billion, a P/E ratio of 10.25, a PEG ratio of 0.76 and a beta of 1.06. The company has a debt-to-equity ratio of 75.45, a quick ratio of 0.10 and a current ratio of 0.11.

CT Real Estate Investment Trust (TSE:CRT.UN) last released its quarterly earnings results on Monday, May 11th. The real estate investment trust reported C$0.41 earnings per share (EPS) for the quarter. The business had revenue of C$157.56 million during the quarter. CT Real Estate Investment Trust had a return on equity of 6.46% and a net margin of 20.63%. As a group, equities research analysts anticipate that CT Real Estate Investment Trust will post 1.1696833 EPS for the current fiscal year.

CT Real Estate Investment Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, August 17th will be given a dividend of $0.0818 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend is Friday, July 31st. CT Real Estate Investment Trust’s payout ratio is presently 51.56%.

About CT Real Estate Investment Trust

CT Real Estate Investment Trust is an unincorporated real estate investment trust that invests in retail properties across Canada. The most significant portion of properties are located in Ontario, followed by Quebec and Western Canada. The trust generates the vast majority of revenue from leasing its properties to Canadian Tire Corporation, which operates the Canadian Tire retail stores. The trust’s portfolio primarily consists of properties anchored by a Canadian Tire retail store, in addition to retail properties not anchored by Canadian Tire, distribution centres, and mixed-use commercial property.