CT Real Estate Investment Trust (TSE:CRT.UN) Price Target Raised to C$18.50

CT Real Estate Investment Trust (TSE:CRT.UN) had its target price lifted by TD from C$18.00 to C$18.50 in a report issued on Wednesday,BayStreet reports. The brokerage currently has a hold rating on the real estate investment trust’s stock.

A number of other research analysts have also recently weighed in on CRT.UN. Raymond James Financial lifted their target price on CT Real Estate Investment Trust from C$19.25 to C$20.00 and gave the company an “outperform” rating in a report on Wednesday. National Bank Financial boosted their price target on CT Real Estate Investment Trust from C$18.75 to C$19.25 and gave the company an “outperform” rating in a research report on Wednesday. Desjardins upped their price target on CT Real Estate Investment Trust from C$19.00 to C$19.50 and gave the stock a “hold” rating in a research note on Wednesday. BMO Capital Markets raised their price objective on CT Real Estate Investment Trust from C$18.00 to C$18.50 and gave the stock a “market perform” rating in a report on Wednesday. Finally, Royal Bank Of Canada raised their price objective on CT Real Estate Investment Trust from C$18.50 to C$19.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 19th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, CT Real Estate Investment Trust currently has an average rating of “Hold” and a consensus target price of C$19.04.

CT Real Estate Investment Trust Stock Up 0.6%

Shares of CRT.UN opened at C$18.28 on Wednesday. The firm has a market cap of C$4.37 billion, a PE ratio of 9.72, a price-to-earnings-growth ratio of 0.76 and a beta of 0.89. The company’s fifty day moving average is C$17.31 and its two-hundred day moving average is C$17.51. CT Real Estate Investment Trust has a fifty-two week low of C$15.70 and a fifty-two week high of C$18.95. The company has a quick ratio of 0.10, a current ratio of 0.11 and a debt-to-equity ratio of 75.45.

CT Real Estate Investment Trust (TSE:CRT.UN) last announced its quarterly earnings data on Monday, November 9th. The real estate investment trust reported C$0.39 earnings per share (EPS) for the quarter. The company had revenue of C$161.32 million during the quarter. CT Real Estate Investment Trust had a net margin of 20.63% and a return on equity of 6.46%. Analysts forecast that CT Real Estate Investment Trust will post 1.17 earnings per share for the current year.

CT Real Estate Investment Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, November 16th will be paid a dividend of $0.0818 per share. This represents a $0.98 annualized dividend and a yield of 5.4%. The ex-dividend date is Friday, October 30th. CT Real Estate Investment Trust’s payout ratio is currently 51.03%.

About CT Real Estate Investment Trust

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.