CT Real Estate Investment Trust (TSE:CRT.UN) Hits New 12-Month High - Here's What Happened

Key Points

• CT Real Estate Investment Trust's stock reached a new 52-week high of C$16.64 on Tuesday, trading slightly lower at C$16.60 afterward.
• Multiple equities analysts have raised their target prices for the stock, with the consensus target now at C$16.70, reflecting a generally positive outlook despite an overall "Hold" rating.
• The company announced a monthly dividend of $0.079 per share, yielding approximately 5.7%, which will be paid on November 17th.

CT Real Estate Investment Trust (TSE:CRT.UN - Get Free Report)'s share price reached a new 52-week high on Tuesday . The stock traded as high as C$16.64 and last traded at C$16.60, with a volume of 9426 shares changing hands. The stock had previously closed at C$16.48.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. National Bankshares raised their target price on shares of CT Real Estate Investment Trust from C$15.95 to C$17.20 and gave the stock a "sector perform" rating in a research report on Wednesday, October 8th. Royal Bank Of Canada raised their target price on shares of CT Real Estate Investment Trust from C$16.00 to C$17.00 and gave the stock a "sector perform" rating in a report on Monday, August 11th. Raymond James Financial lifted their price target on shares of CT Real Estate Investment Trust from C$16.75 to C$17.00 and gave the stock a "market perform" rating in a research note on Thursday, August 7th. Finally, Desjardins lifted their target price on shares of CT Real Estate Investment Trust from C$15.50 to C$16.50 and gave the company a "hold" rating in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of C$16.70.

CT Real Estate Investment Trust Stock Performance

The stock's fifty day simple moving average is C$16.25 and its 200-day simple moving average is C$15.72. The firm has a market cap of C$3.94 billion, a PE ratio of 10.78, a PEG ratio of 0.76 and a beta of 0.92. The company has a debt-to-equity ratio of 75.45, a current ratio of 0.11 and a quick ratio of 0.10.

CT Real Estate Investment Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, November 17th will be issued a $0.079 dividend. This represents a c) annualized dividend and a dividend yield of 5.7%. The ex-dividend date is Friday, October 31st. CT Real Estate Investment Trust's dividend payout ratio is currently 60.20%.

CT Real Estate Investment Trust Company Profile

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.

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