CT Real Estate Investment Trust (TSE:CRT.UN) Shares Cross Below 200 Day Moving Average – Here’s What Happened

CT Real Estate Investment Trust (TSE:CRT.UN)’s share price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$17.66 and traded as low as C$17.08. CT Real Estate Investment Trust shares last traded at C$17.21, with a volume of 232,563 shares.

Analysts Set New Price Targets

Several research firms have recently issued reports on CRT.UN. Desjardins upped their target price on CT Real Estate Investment Trust from C$18.00 to C$19.00 and gave the company a “hold” rating in a report on Wednesday, May 13th. Royal Bank Of Canada upped their price objective 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. Scotia boosted their price target on shares of 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. TD increased their price target 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 research report on Wednesday, May 13th. Finally, Raymond James Financial reduced their price target on shares of CT Real Estate Investment Trust from C$19.75 to C$19.25 and set a “market perform” rating for the company in a research report on Wednesday, August 12th. Eight investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of C$18.06.

CT Real Estate Investment Trust Stock Performance

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 company has a 50 day simple moving average of C$18.16 and a 200-day simple moving average of C$17.66. The stock has a market capitalization of C$4.10 billion, a P/E ratio of 8.95, a price-to-earnings-growth ratio of 0.76 and a beta of 0.98.

CT Real Estate Investment Trust (TSE:CRT.UN) last posted its quarterly earnings results on Monday, August 10th. The real estate investment trust reported C$0.45 earnings per share for the quarter. CT Real Estate Investment Trust had a return on equity of 6.46% and a net margin of 20.63%.The company had revenue of C$156.71 million during the quarter. On average, equities 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 firm also recently announced a monthly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 17th were paid a $0.0818 dividend. The ex-dividend date was Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 5.7%. CT Real Estate Investment Trust’s dividend payout ratio (DPR) is presently 49.59%.

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.