CT Real Estate Investment Trust (TSE:CRT.UN) Price Target Cut to C$19.25 by Analysts at Raymond James Financial

Key Points

• Raymond James lowered CT Real Estate Investment Trust’s price target to C$19.25 from C$19.75 while maintaining a “market perform” rating, implying about 8% upside from the previous close.
• Analyst sentiment remains cautious: eight analysts rate the trust “Hold,” giving it a consensus “Hold” rating and an average price target of C$17.93.
• Shares recently traded at C$17.82, while the trust reported quarterly EPS of C$0.45 on revenue of C$156.71 million. Its portfolio primarily consists of Canadian retail properties leased to Canadian Tire Corporation.

CT Real Estate Investment Trust (TSE:CRT.UN - Get Free Report) had its price objective reduced by equities researchers at Raymond James Financial from C$19.75 to C$19.25 in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm currently has a "market perform" rating on the real estate investment trust's stock. Raymond James Financial's target price suggests a potential upside of 8.02% from the stock's previous close.

CRT.UN has been the subject of a number of other research reports. Desjardins increased their price target on shares of CT Real Estate Investment Trust from C$18.00 to C$19.00 and gave the company a "hold" rating in a report on Wednesday, May 13th. TD boosted their price objective on shares of CT Real Estate Investment Trust from C$17.50 to C$18.00 and gave the stock a "hold" rating in a report on Wednesday, May 13th. Finally, Scotia upped their target price on shares of CT Real Estate Investment Trust from C$17.00 to C$18.50 and gave the stock a "sector perform" rating in a research report on Wednesday, May 13th. Eight research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, CT Real Estate Investment Trust currently has a consensus rating of "Hold" and an average target price of C$17.93.

CT Real Estate Investment Trust Price Performance

Shares of CT Real Estate Investment Trust stock traded up C$0.14 during trading on Wednesday, reaching C$17.82. The company's stock had a trading volume of 361,705 shares, compared to its average volume of 199,370. The business has a 50 day moving average price of C$18.30 and a 200-day moving average price of C$17.54. CT Real Estate Investment Trust has a 12-month low of C$15.66 and a 12-month high of C$18.95. The company has a market capitalization of C$4.25 billion, a P/E ratio of 9.73, a price-to-earnings-growth ratio of 0.76 and a beta of 1.06. The company has a quick ratio of 0.10, a current ratio of 0.11 and a debt-to-equity ratio of 75.45.

CT Real Estate Investment Trust (TSE:CRT.UN - Get Free Report) last released its quarterly earnings data on Monday, August 10th. The real estate investment trust reported C$0.45 earnings per share (EPS) for the quarter. The firm had revenue of C$156.71 million during the quarter. CT Real Estate Investment Trust had a return on equity of 6.46% and a net margin of 20.63%. As a group, sell-side analysts anticipate that CT Real Estate Investment Trust will post 1.1696833 EPS for the current year.

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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