Crombie Real Estate Investment Trust (TSE:CRR.UN) to Issue $0.07 Monthly Dividend

Crombie Real Estate Investment Trust (TSE:CRR.UN) announced a monthly dividend on Monday, April 29th, TickerTech reports. Stockholders of record on Wednesday, May 15th will be given a dividend of 0.0742 per share on Wednesday, May 15th. This represents a $0.89 dividend on an annualized basis and a dividend yield of 6.89%. The ex-dividend date is Monday, April 29th.

Crombie Real Estate Investment Trust Stock Performance

TSE:CRR.UN traded up C$0.09 during mid-day trading on Friday, reaching C$12.92. 97,269 shares of the company’s stock were exchanged, compared to its average volume of 166,332. The company has a debt-to-equity ratio of 119.86, a quick ratio of 0.11 and a current ratio of 0.15. The firm has a market capitalization of C$1.38 billion, a PE ratio of -39.15 and a beta of 0.91. Crombie Real Estate Investment Trust has a one year low of C$11.68 and a one year high of C$15.69. The business’s fifty day simple moving average is C$13.63 and its two-hundred day simple moving average is C$13.44.

Analyst Ratings Changes

A number of equities analysts have commented on CRR.UN shares. TD Securities lowered their price objective on Crombie Real Estate Investment Trust from C$16.00 to C$15.00 in a research note on Wednesday. Desjardins boosted their price target on Crombie Real Estate Investment Trust from C$15.00 to C$16.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Raymond James set a C$16.00 target price on shares of Crombie Real Estate Investment Trust and gave the company an “outperform” rating in a report on Thursday, March 28th. Scotiabank cut their price target on shares of Crombie Real Estate Investment Trust from C$16.75 to C$16.00 and set an “outperform” rating for the company in a report on Friday, February 23rd. Finally, National Bankshares decreased their price objective on shares of Crombie Real Estate Investment Trust from C$15.00 to C$14.25 and set an “outperform” rating on the stock in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$15.42.

Insider Buying and Selling at Crombie Real Estate Investment Trust

In other Crombie Real Estate Investment Trust news, Director Michael Harold Vels acquired 6,500 shares of Crombie Real Estate Investment Trust stock in a transaction that occurred on Friday, March 1st. The shares were bought at an average price of C$13.85 per share, with a total value of C$90,025.00. Corporate insiders own 0.14% of the company’s stock.

About Crombie Real Estate Investment Trust

Crombie Real Estate Investment Trust ("Crombie") is an unincorporated, open-ended real estate investment trust established under, and governed by, the laws of the Province of Ontario. Crombie is one of the country's leading national retail property landlords with a strategy to own, operate and develop a portfolio of high quality grocery and drug store anchored shopping centres, freestanding stores and mixed use developments primarily in Canada's top urban and suburban markets.