CT Real Estate Investment Trust (TSE:CRT.UN) Reaches New 52-Week High – Here’s Why

CT Real Estate Investment Trust (TSE:CRT.UN) hit a new 52-week high on Thursday . The stock traded as high as C$18.53 and last traded at C$18.42, with a volume of 128997 shares changing hands. The stock had previously closed at C$18.14.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CRT.UN. Desjardins raised their price target on CT Real Estate Investment Trust from C$18.00 to C$19.00 and gave the stock a “hold” rating in a research report on Wednesday, May 13th. Scotia increased their target price 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. Raymond James Financial lifted their price objective on shares of CT Real Estate Investment Trust from C$18.75 to C$19.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 13th. Finally, TD boosted their price objective 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 report on Wednesday, May 13th. Eight investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of C$17.90.

CT Real Estate Investment Trust Stock Performance

The stock has a market cap of C$4.42 billion, a P/E ratio of 10.13, a price-to-earnings-growth ratio of 0.76 and a beta of 1.06. The company has a debt-to-equity ratio of 75.45, a current ratio of 0.11 and a quick ratio of 0.10. The stock’s 50 day simple moving average is C$17.86 and its two-hundred day simple moving average is C$17.15.

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

CT Real Estate Investment Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 15th were issued a dividend of $0.079 per share. The ex-dividend date was Thursday, April 30th. This represents a c) dividend on an annualized basis and a dividend yield of 5.1%. CT Real Estate Investment Trust’s dividend payout ratio (DPR) is presently 51.56%.

CT Real Estate Investment Trust Company Profile

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.