CT Real Estate Investment Trust (TSE:CRT.UN) Reaches New 52-Week High After Analyst Upgrade

CT Real Estate Investment Trust (TSE:CRT.UN)’s stock price hit a new 52-week high during mid-day trading on Monday after Royal Bank Of Canada raised their price target on the stock from C$17.00 to C$18.00. Royal Bank Of Canada currently has a sector perform rating on the stock. CT Real Estate Investment Trust traded as high as C$17.22 and last traded at C$17.15, with a volume of 52170 shares. The stock had previously closed at C$16.96.

CRT.UN has been the topic of several other reports. TD Securities raised their price objective on CT Real Estate Investment Trust from C$16.00 to C$16.50 and gave the company a “hold” rating in a research note on Wednesday, November 5th. Scotiabank cut shares of CT Real Estate Investment Trust from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from C$16.50 to C$17.00 in a report on Tuesday, November 4th. Six research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, CT Real Estate Investment Trust has an average rating of “Hold” and a consensus price target of C$17.03.

CT Real Estate Investment Trust Stock Performance

The company’s fifty day simple moving average is C$16.60 and its 200 day simple moving average is C$16.34. The stock has a market capitalization of C$4.12 billion, a P/E ratio of 10.76, a P/E/G ratio of 0.76 and a beta of 1.03. The company has a current ratio of 0.11, a quick ratio of 0.10 and a debt-to-equity ratio of 75.45.

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.