CT Real Estate Investment Trust (TSE:CRT.UN) Hits New 1-Year High - Here's Why

Key Points

• CT Real Estate Investment Trust shares hit a new 52-week high, trading as high as C$18.88 after a modest 0.8% gain. The move came on relatively light volume of 15,407 shares.
• Several brokerages recently raised their price targets on the stock, including Desjardins, Raymond James, TD, and Scotia. Even so, the overall analyst consensus remains Hold with a price target of C$17.90.
• The trust recently reported quarterly EPS of C$0.41 on revenue of C$157.56 million and declared a monthly dividend of C$0.0818 per share, implying a 5.2% annualized yield.

Shares of CT Real Estate Investment Trust (TSE:CRT.UN - Get Free Report) hit a new 52-week high during mid-day trading on Friday . The company traded as high as C$18.88 and last traded at C$18.84, with a volume of 15407 shares. The stock had previously closed at C$18.69.

Analyst Ratings Changes

Several brokerages have recently commented on CRT.UN. Desjardins boosted their price objective on CT Real Estate Investment Trust from C$18.00 to C$19.00 and gave the company a "hold" rating in a research report on Wednesday, May 13th. Raymond James Financial increased their target price on CT Real Estate Investment Trust from C$18.75 to C$19.00 and gave the stock a "market perform" rating in a research report on Wednesday, May 13th. TD lifted their target price on CT Real Estate Investment Trust from C$17.50 to C$18.00 and gave the company a "hold" rating in a research note on Wednesday, May 13th. Finally, Scotia lifted their target price on CT Real Estate Investment Trust from C$17.00 to C$18.50 and gave the company a "sector perform" rating in a research note on Wednesday, May 13th. Eight equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of C$17.90.

CT Real Estate Investment Trust Stock Up 0.8%

The company has a quick ratio of 0.10, a current ratio of 0.11 and a debt-to-equity ratio of 75.45. The company has a market capitalization of C$4.49 billion, a PE ratio of 10.28, a PEG ratio of 0.76 and a beta of 1.06. The company's 50 day moving average is C$18.04 and its two-hundred day moving average is C$17.31.

CT Real Estate Investment Trust (TSE:CRT.UN - Get Free Report) last released its quarterly earnings data on Monday, May 11th. The real estate investment trust reported C$0.41 EPS for the quarter. The business had revenue of C$157.56 million during the quarter. CT Real Estate Investment Trust had a net margin of 20.63% and a return on equity of 6.46%. On average, analysts anticipate that CT Real Estate Investment Trust will post 1.1696833 earnings per share for the current year.

CT Real Estate Investment Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 17th will be paid a dividend of $0.0818 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 5.2%. CT Real Estate Investment Trust's dividend payout ratio is presently 51.56%.

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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