Crombie Real Estate Investment Trust (TSE:CRR.UN) Reaches New 52-Week High - Should You Buy?

Key Points

• Crombie Real Estate Investment Trust (TSE:CRR.UN) recently achieved a new 52-week high, trading at C$15.49, indicating strong market performance with significant trading volume.
• Wall Street analysts are optimistic, with projections raising the target price from C$16.50 to C$17.50 and an average rating of “Strong Buy”.
• The company has declared a monthly dividend of $0.0742 per share, which represents an annual yield of 5.8%, highlighting their return to investors amidst a challenging financial backdrop.

Crombie Real Estate Investment Trust (TSE:CRR.UN - Get Free Report)'s stock price reached a new 52-week high on Wednesday . The stock traded as high as C$15.49 and last traded at C$15.46, with a volume of 64532 shares traded. The stock had previously closed at C$15.32.

Wall Street Analysts Forecast Growth

CRR.UN has been the subject of a number of analyst reports. National Bankshares upped their price objective on shares of Crombie Real Estate Investment Trust from C$16.50 to C$17.00 and gave the company an "outperform" rating in a report on Wednesday, October 8th. Raymond James Financial upped their price objective on shares of Crombie Real Estate Investment Trust from C$17.00 to C$17.50 and gave the company a "strong-buy" rating in a report on Tuesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Strong Buy" and an average target price of C$16.83.

Crombie Real Estate Investment Trust Stock Performance

The stock has a 50-day simple moving average of C$15.08 and a 200-day simple moving average of C$14.77. The company has a market capitalization of C$2.85 billion, a price-to-earnings ratio of -809.53 and a beta of 0.82. 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 Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 15th were paid a dividend of $0.0742 per share. This represents a c) dividend on an annualized basis and a yield of 5.8%. The ex-dividend date was Thursday, July 31st. Crombie Real Estate Investment Trust's dividend payout ratio is presently -4,672.62%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.