Crombie Real Estate Investment Trust (TSE:CRR.UN) Price Target Raised to C$17.50

Key Points

• Raymond James Financial has raised the price target for Crombie Real Estate Investment Trust (TSE:CRR.UN) from C$17.00 to C$17.50, indicating a potential upside of 16.36% from the previous close.
• The company currently holds a "strong-buy" rating, reflecting positive sentiment in the market.
• Crombie focuses on retail, investing primarily in grocery-store and drugstore-anchored shopping centers across urban and suburban Canada.

Crombie Real Estate Investment Trust (TSE:CRR.UN - Get Free Report) had its target price increased by equities researchers at Raymond James Financial from C$17.00 to C$17.50 in a report issued on Tuesday,BayStreet.CA reports. The firm currently has a "strong-buy" rating on the stock. Raymond James Financial's target price would indicate a potential upside of 16.36% from the company's previous close.

Crombie Real Estate Investment Trust Price Performance

CRR.UN stock traded up C$0.07 during mid-day trading on Tuesday, reaching C$15.04. The company's stock had a trading volume of 59,920 shares, compared to its average volume of 194,579. The company's 50 day moving average is C$14.88 and its two-hundred day moving average is C$14.64. The stock has a market cap of C$2.78 billion, a PE ratio of -789.58 and a beta of 0.89. The company has a current ratio of 0.14, a quick ratio of 0.11 and a debt-to-equity ratio of 120.87. Crombie Real Estate Investment Trust has a fifty-two week low of C$13.01 and a fifty-two week high of C$16.22.

Crombie Real Estate Investment Trust Company Profile

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.

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