CT Real Estate Investment Trust (TSE:CRT.UN) Stock Price Breaks Below Two Hundred Day Moving Average – What’s Next?

CT Real Estate Investment Trust (TSE:CRT.UN)’s share price passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$17.44 and traded as low as C$17.27. CT Real Estate Investment Trust shares last traded at C$17.38, with a volume of 197,162 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. National Bank Financial raised CT Real Estate Investment Trust from a “sector perform” rating to an “outperform” rating and set a C$18.75 price objective for the company in a research note on Wednesday, October 21st. Royal Bank Of Canada raised their target price on CT Real Estate Investment Trust from C$18.50 to C$19.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 19th. Finally, Raymond James Financial upgraded shares of CT Real Estate Investment Trust from a “market perform” rating to an “outperform” rating and set a C$19.25 price objective on the stock in a report on Friday, October 2nd. Two equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of C$18.25.

CT Real Estate Investment Trust Price Performance

The company has a quick ratio of 0.10, a current ratio of 0.11 and a debt-to-equity ratio of 75.45. The firm’s fifty day simple moving average is C$17.19 and its two-hundred day simple moving average is C$17.44. The firm has a market cap of C$4.16 billion, a PE ratio of 9.07, a P/E/G ratio of 0.76 and a beta of 0.96.

CT Real Estate Investment Trust (TSE:CRT.UN) last released its quarterly earnings data on Monday, August 10th. The real estate investment trust reported C$0.45 earnings per share (EPS) for the quarter. The firm had revenue of C$156.71 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 expect that CT Real Estate Investment Trust will post 1.17 EPS for the current year.

CT Real Estate Investment Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 16th will be issued a $0.0818 dividend. This represents a $0.98 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend is Friday, October 30th. CT Real Estate Investment Trust’s payout ratio is 49.59%.

CT Real Estate Investment Trust Company Profile

CT REIT is an unincorporated, closed-end real estate investment trust formed to own income-producing commercial properties located primarily in Canada. Its portfolio is comprised of 380 properties totalling 32 million square feet of GLA, consisting primarily of net lease single-tenant retail properties located across Canada. Canadian Tire Corporation, Limited is CT REIT’s most significant tenant.