Crombie Real Estate Investment Trust (TSE:CRR.UN) Sets New 52-Week High After Analyst Upgrade

Crombie Real Estate Investment Trust (TSE:CRR.UN)’s stock price hit a new 52-week high during trading on Monday after Raymond James raised their price target on the stock from C$16.25 to C$16.75. The company traded as high as C$15.30 and last traded at C$15.25, with a volume of 8550 shares trading hands. The stock had previously closed at C$15.15.

Other analysts have also issued reports about the stock. CIBC lowered their price target on shares of Crombie Real Estate Investment Trust from C$17.00 to C$16.00 in a research report on Friday, May 10th. TD Securities increased their price target on shares of Crombie Real Estate Investment Trust from C$15.00 to C$16.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Finally, Scotiabank cut their target price on shares of Crombie Real Estate Investment Trust from C$16.00 to C$15.75 and set an “outperform” rating on the stock in a research note on Monday, May 13th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Crombie Real Estate Investment Trust currently has an average rating of “Moderate Buy” and an average price target of C$15.47.

Crombie Real Estate Investment Trust Stock Performance

The firm’s 50-day moving average price is C$13.89 and its 200 day moving average price is C$13.42. The company has a debt-to-equity ratio of 120.87, a quick ratio of 0.11 and a current ratio of 0.14. The company has a market cap of C$1.65 billion, a price-to-earnings ratio of -54.61 and a beta of 0.94.

Crombie Real Estate Investment Trust Announces Dividend

The business also recently declared a monthly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 15th were paid a $0.0742 dividend. This represents a $0.89 dividend on an annualized basis and a yield of 5.82%. The ex-dividend date was Wednesday, July 31st. Crombie Real Estate Investment Trust’s payout ratio is currently -317.86%.

About Crombie Real Estate Investment Trust

Crombie Real Estate Investment Trust ("Crombie") is an unincorporated, open-ended real estate investment trust established under, and governed by, the laws of the Province of Ontario. Crombie is one of the country's leading national retail property landlords with a strategy to own, operate and develop a portfolio of high quality grocery and drug store anchored shopping centres, freestanding stores and mixed use developments primarily in Canada's top urban and suburban markets.