CT Real Estate Investment Trust (TSE:CRT.UN) Upgraded to Outperform at Raymond James Financial

Key Points

• Raymond James upgraded CT Real Estate Investment Trust to “outperform” from “market perform” and set a C$19.25 price target, implying 12.38% upside from the prior close.
• Analyst sentiment remains cautious overall: RBC raised its target to C$19.00, while the consensus rating is “Hold” with an average price target of C$18.06.
• The trust’s shares rose 1.5% to C$17.13 in Friday trading. In its latest quarter, CT REIT reported C$0.45 in earnings per share and C$156.71 million in revenue.

CT Real Estate Investment Trust (TSE:CRT.UN - Get Free Report) was upgraded by research analysts at Raymond James Financial from a "market perform" rating to an "outperform" rating in a research note issued to investors on Friday, BayStreet reports. The firm currently has a C$19.25 target price on the real estate investment trust's stock. Raymond James Financial's target price points to a potential upside of 12.38% from the stock's previous close.

Separately, Royal Bank Of Canada increased their price target on CT Real Estate Investment Trust from C$18.50 to C$19.00 and gave the company a "sector perform" rating in a report on Wednesday, August 19th. One research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of C$18.06.

CT Real Estate Investment Trust Stock Up 1.5%

TSE:CRT.UN traded up C$0.26 during trading hours on Friday, hitting C$17.13. 106,519 shares of the stock traded hands, compared to its average volume of 212,454. The firm has a 50 day moving average price of C$17.54 and a 200 day moving average price of C$17.65. The firm has a market cap of C$4.08 billion, a price-to-earnings ratio of 8.93, a PEG ratio of 0.76 and a beta of 0.98. 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 company has a current ratio of 0.11, a quick ratio of 0.10 and a debt-to-equity ratio of 75.45.

CT Real Estate Investment Trust (TSE:CRT.UN - Get Free Report) last released its quarterly earnings data on Monday, August 10th. The real estate investment trust reported C$0.45 earnings per share for the quarter. The firm had revenue of C$156.71 million for the quarter. CT Real Estate Investment Trust had a net margin of 20.63% and a return on equity of 6.46%. Equities research analysts anticipate that CT Real Estate Investment Trust will post 1.1696833 earnings per share for the current year.

About CT Real Estate Investment Trust

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.

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