Crombie Real Estate Investment Trust (TSE:CRR.UN) Announces $0.07 Monthly Dividend

Key Points

• Crombie Real Estate Investment Trust declared a monthly dividend of $0.07 per share, with stockholders of record on August 15 set to receive this payment.
• The company's stock opened at C$14.34 and has an annualized dividend yield of 6.21%, despite a recent decline of 2.2% in stock price.
• Raymond James Financial upgraded the stock from "outperform" to "strong-buy" with a price target of C$17.25.

Crombie Real Estate Investment Trust (TSE:CRR.UN - Get Free Report) declared a monthly dividend on Thursday, July 31st, TickerTech Dividends reports. Stockholders of record on Friday, August 15th will be paid a dividend of 0.0742 per share on Friday, August 15th. This represents a c) annualized dividend and a dividend yield of 6.2%. The ex-dividend date of this dividend is Thursday, July 31st.

Crombie Real Estate Investment Trust Stock Down 0.2%

Shares of CRR.UN traded down C$0.03 during mid-day trading on Friday, hitting C$14.35. 125,773 shares of the company's stock were exchanged, compared to its average volume of 189,866. The company has a market cap of C$1.55 billion, a PE ratio of -51.25 and a beta of 0.95. Crombie Real Estate Investment Trust has a 52 week low of C$13.01 and a 52 week high of C$16.22. The company has a 50-day simple moving average of C$14.76 and a 200 day simple moving average of C$14.34. The company has a debt-to-equity ratio of 120.87, a current ratio of 0.14 and a quick ratio of 0.11.

Analysts Set New Price Targets

Separately, Raymond James Financial raised shares of Crombie Real Estate Investment Trust from an "outperform" rating to a "strong-buy" rating and set a C$17.25 target price for the company in a research note on Thursday, July 17th.

About Crombie Real Estate Investment Trust

Crombie Real Estate Investment Trust is a Canada-based open-end REIT that focuses on the retail industry. The company invests, operates, and develops a portfolio of grocery-store- and drugstore-anchored shopping centres, freestanding stores, offices, and mixed-use developments. The properties are located primarily in Canada's urban and suburban markets.