CT Real Estate Investment Trust (TSE:CRT.UN) Stock Price Expected to Rise, Desjardins Analyst Says

Key Points

• Desjardins raised its price target on CT REIT from C$19.00 to C$19.50 but maintained a Hold rating, implying 6.32% upside from the current price.
• Analyst sentiment remains mostly neutral: the consensus is Hold, with an average target of C$19.04; Raymond James and National Bank Financial are among the firms rating the trust Outperform.
• Shares traded at C$18.34 on Wednesday. CT REIT reported quarterly EPS of C$0.39 and revenue of C$161.32 million.

CT Real Estate Investment Trust (TSE:CRT.UN - Get Free Report) had its price target lifted by Desjardins from C$19.00 to C$19.50 in a research report issued to clients and investors on Wednesday, BayStreet reports. The brokerage currently has a "hold" rating on the real estate investment trust's stock. Desjardins's target price points to a potential upside of 6.32% from the stock's current price.

Several other brokerages have also commented on CRT.UN. Raymond James Financial raised their price target on shares of CT Real Estate Investment Trust from C$19.25 to C$20.00 and gave the company an "outperform" rating in a research note on Wednesday. BMO Capital Markets boosted their price objective on CT Real Estate Investment Trust from C$18.00 to C$18.50 and gave the stock a "market perform" rating in a research report on Wednesday. Royal Bank Of Canada increased their price objective on CT Real Estate Investment Trust from C$18.50 to C$19.00 and gave the stock a "sector perform" rating in a report on Wednesday, August 19th. Finally, National Bank Financial increased their price objective on CT Real Estate Investment Trust from C$18.75 to C$19.25 and gave the stock an "outperform" rating in a report on Wednesday. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of C$19.04.

CT Real Estate Investment Trust Stock Performance

Shares of CT Real Estate Investment Trust stock traded down C$0.11 during trading on Wednesday, hitting C$18.34. 75,439 shares of the stock were exchanged, compared to its average volume of 210,838. The company has a debt-to-equity ratio of 75.45, a quick ratio of 0.10 and a current ratio of 0.11. CT Real Estate Investment Trust has a 12 month low of C$15.70 and a 12 month high of C$18.95. The stock's fifty day moving average is C$17.24 and its 200 day moving average is C$17.48. The stock has a market cap of C$4.38 billion, a PE ratio of 9.56, a P/E/G ratio of 0.76 and a beta of 0.89.

CT Real Estate Investment Trust (TSE:CRT.UN - Get Free Report) last issued its quarterly earnings data on Monday, November 9th. The real estate investment trust reported C$0.39 earnings per share for the quarter. The firm had revenue of C$161.32 million for the quarter. CT Real Estate Investment Trust had a net margin of 20.63% and a return on equity of 6.46%. As a group, sell-side analysts anticipate that CT Real Estate Investment Trust will post 1.17 EPS for the current year.

About CT Real Estate Investment Trust

CT REIT is an unincorporated, closed-end real estate investment trust formed to own income-producing commercial properties located primarily in Canada. Its portfolio is comprised of 380 properties totalling 32 million square feet of GLA, consisting primarily of net lease single-tenant retail properties located across Canada. Canadian Tire Corporation, Limited is CT REIT's most significant tenant.

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