Crombie Real Estate Investment Trust (TSE:CRR.UN) Raised to Strong-Buy at Raymond James

Raymond James upgraded shares of Crombie Real Estate Investment Trust (TSE:CRR.UN) from an outperform rating to a strong-buy rating in a research note released on Monday morning,BayStreet.CA reports. Raymond James currently has C$16.75 price objective on the stock, down from their prior price objective of C$17.25.

Other analysts have also recently issued reports about the stock. National Bankshares raised their price target on shares of Crombie Real Estate Investment Trust from C$15.25 to C$17.00 in a report on Wednesday, October 9th. BMO Capital Markets lifted their price target on shares of Crombie Real Estate Investment Trust from C$15.00 to C$16.00 in a report on Monday, October 28th. Finally, Canaccord Genuity Group upped their target price on Crombie Real Estate Investment Trust from C$14.00 to C$15.00 and gave the company a “hold” rating in a research report on Monday, September 16th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Crombie Real Estate Investment Trust has an average rating of “Buy” and an average target price of C$16.06.

Crombie Real Estate Investment Trust Price Performance

Shares of CRR.UN stock opened at C$13.16 on Monday. The stock’s 50-day moving average is C$13.98 and its 200 day moving average is C$14.20. Crombie Real Estate Investment Trust has a 1-year low of C$12.25 and a 1-year high of C$16.22. The company has a debt-to-equity ratio of 120.87, a current ratio of 0.14 and a quick ratio of 0.11. The company has a market cap of C$1.42 billion, a P/E ratio of -47.00 and a beta of 0.95.

Crombie Real Estate Investment Trust Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 15th were issued a dividend of $0.0742 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $0.89 annualized dividend and a dividend yield of 6.77%. Crombie Real Estate Investment Trust’s dividend payout ratio (DPR) is presently -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.