Raymond James Financial Upgrades CT Real Estate Investment Trust (TSE:CRT.UN) to “Outperform”

CT Real Estate Investment Trust (TSE:CRT.UN) was upgraded by research analysts at Raymond James Financial from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Friday, BayStreet reports. The firm presently has a C$19.25 price objective on the real estate investment trust’s stock. Raymond James Financial’s price target points to a potential upside of 12.38% from the company’s previous close.

Separately, Royal Bank Of Canada lifted 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. One equities research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of C$18.06.

CT Real Estate Investment Trust Price Performance

Shares of CRT.UN stock traded up C$0.26 during trading hours on Friday, reaching C$17.13. 106,519 shares of the company were exchanged, compared to its average volume of 212,454. CT Real Estate Investment Trust has a fifty-two week low of C$15.66 and a fifty-two week high of C$18.95. The stock’s fifty day moving average is C$17.54 and its two-hundred day moving average is C$17.65. The company has a market cap of C$4.08 billion, a price-to-earnings ratio of 8.93, a P/E/G ratio of 0.76 and a beta of 0.98. The company has a debt-to-equity ratio of 75.45, a current ratio of 0.11 and a quick ratio of 0.10.

CT Real Estate Investment Trust (TSE:CRT.UN) last issued 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 net margin of 20.63% and a return on equity of 6.46%. The business had revenue of C$156.71 million during the quarter. Sell-side analysts forecast that CT Real Estate Investment Trust will post 1.1696833 earnings per share for the current fiscal year.

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.