Crombie Real Estate Investment Trust (TSE:CRR.UN) Reaches New 52-Week High – What’s Next?

Crombie Real Estate Investment Trust (TSE:CRR.UN)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as C$15.62 and last traded at C$15.61, with a volume of 43747 shares traded. The stock had previously closed at C$15.34.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CRR.UN shares. Raymond James Financial boosted their price objective on Crombie Real Estate Investment Trust from C$17.00 to C$17.50 and gave the stock a “strong-buy” rating in a research note on Tuesday, September 23rd. National Bankshares boosted their price target on shares of Crombie Real Estate Investment Trust from C$16.50 to C$17.00 and gave the company an “outperform” rating in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Strong Buy” and a consensus price target of C$17.25.

Crombie Real Estate Investment Trust Stock Performance

The company has a quick ratio of 0.11, a current ratio of 0.14 and a debt-to-equity ratio of 120.87. The stock has a market cap of C$2.87 billion, a PE ratio of 938.01 and a beta of 0.75. The stock has a fifty day moving average of C$15.18 and a 200-day moving average of C$14.99.

About Crombie Real Estate Investment Trust

Crombie Real Estate Investment Trust is a Canada-based open-end REIT that focuses on the retail industry. The company invests, operates, and develops a portfolio of grocery-store- and drugstore-anchored shopping centres, freestanding stores, offices, and mixed-use developments. The properties are located primarily in Canada’s urban and suburban markets.