CT Real Estate Investment Trust (TSE:CRT.UN) Given New C$17.00 Price Target at CIBC

CT Real Estate Investment Trust (TSE:CRT.UN) had its price objective boosted by CIBC from C$15.50 to C$17.00 in a research note published on Thursday morning, BayStreet.CA reports.

Several other research analysts have also recently weighed in on CRT.UN. National Bank Financial boosted their price objective on CT Real Estate Investment Trust from C$17.00 to C$18.00 and gave the stock an outperform rating in a research report on Monday, January 27th. Scotiabank boosted their price objective on CT Real Estate Investment Trust from C$15.75 to C$16.50 in a research report on Monday, January 20th. Royal Bank of Canada boosted their price objective on CT Real Estate Investment Trust from C$15.50 to C$16.50 and gave the stock a sector perform rating in a research report on Wednesday. TD Securities boosted their price objective on CT Real Estate Investment Trust from C$17.00 to C$18.00 and gave the stock a buy rating in a research report on Wednesday. Finally, Raymond James reissued a market perform rating and issued a C$16.75 price objective on shares of CT Real Estate Investment Trust in a research report on Wednesday.

CRT.UN stock traded up C$0.16 during midday trading on Thursday, hitting C$16.83. The company’s stock had a trading volume of 274,535 shares, compared to its average volume of 40,694. The stock’s 50-day moving average price is C$16.21 and its 200 day moving average price is C$15.21. The company has a quick ratio of 0.04, a current ratio of 0.05 and a debt-to-equity ratio of 79.02. CT Real Estate Investment Trust has a 1 year low of C$13.29 and a 1 year high of C$16.70. The stock has a market cap of $1.75 billion and a price-to-earnings ratio of 27.41.

The company also recently announced a monthly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 16th will be paid a $0.0656 dividend. The ex-dividend date is Thursday, February 27th. This is a positive change from CT Real Estate Investment Trust’s previous monthly dividend of $0.06. This represents a $0.79 annualized dividend and a dividend yield of 4.68%. CT Real Estate Investment Trust’s payout ratio is presently 128.66%.

About CT Real Estate Investment Trust

CT Real Estate Investment Trust (TSX:CRT.UN) is an unincorporated, closed-end real estate investment trust formed to own income-producing commercial properties primarily located in Canada. Its portfolio is comprised of over 325 properties totaling approximately 26 million square feet of GLA, consisting primarily of retail properties located across Canada.

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