CT Real Estate Investment Trust (TSE:CRT.UN) Reaches New 1-Year High – Time to Buy?

CT Real Estate Investment Trust (TSE:CRT.UN)’s stock price reached a new 52-week high on Monday . The stock traded as high as C$18.41 and last traded at C$18.31, with a volume of 9336 shares trading hands. The stock had previously closed at C$18.22.

Wall Street Analyst Weigh In

CRT.UN has been the topic of several recent research reports. Raymond James Financial lifted their target price on shares of CT Real Estate Investment Trust from C$18.75 to C$19.00 and gave the company a “market perform” rating in a report on Wednesday, May 13th. Royal Bank Of Canada upped their price target on CT Real Estate Investment Trust from C$17.00 to C$18.00 and gave the stock a “sector perform” rating in a report on Monday, February 23rd. TD upped their price target on CT Real Estate Investment Trust from C$17.50 to C$18.00 and gave the stock a “hold” rating in a report on Wednesday, May 13th. Desjardins upped 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 report on Wednesday, May 13th. Finally, Scotia upped their price target on CT Real Estate Investment Trust from C$17.00 to C$18.50 and gave the stock a “sector perform” rating in a report on Wednesday, May 13th. Eight analysts have rated the stock with a Hold rating, According to MarketBeat, CT Real Estate Investment Trust currently has a consensus rating of “Hold” and a consensus target price of C$17.90.

CT Real Estate Investment Trust Stock Performance

The stock has a market cap of C$4.33 billion, a PE ratio of 9.93, a PEG ratio of 0.76 and a beta of 1.07. The stock has a fifty day simple moving average of C$17.60 and a two-hundred day simple moving average of C$16.93. The company has a debt-to-equity ratio of 75.45, a quick ratio of 0.10 and a current ratio of 0.11.

CT Real Estate Investment Trust (TSE:CRT.UN) last released its quarterly earnings results on Monday, May 11th. The real estate investment trust reported C$0.41 earnings per share for the quarter. The firm had revenue of C$157.56 million during the quarter. CT Real Estate Investment Trust had a return on equity of 6.46% and a net margin of 20.63%. Equities analysts anticipate that CT Real Estate Investment Trust will post 1.1696833 EPS for the current fiscal year.

CT Real Estate Investment Trust Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 15th were given a $0.079 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend was Thursday, April 30th. CT Real Estate Investment Trust’s dividend payout ratio is presently 51.56%.

About CT Real Estate Investment Trust

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.