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CT Real Estate Investment Trust (TSE:CRT.UN) Given New C$17.00 Price Target at Royal Bank Of Canada

CT Real Estate Investment Trust logo with Real Estate background

Key Points

  • Royal Bank of Canada has raised its price target for CT Real Estate Investment Trust from C$16.00 to C$17.00, indicating a potential upside of 7.73% from the current stock price.
  • Other analysts, including Raymond James and Scotiabank, have also upgraded their target prices for the trust, reflecting a general positive outlook on the stock.
  • CT Real Estate Investment Trust primarily leases properties to the Canadian Tire Corporation, with most properties located in Ontario.
  • Want stock alerts on CT Real Estate Investment Trust? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

CT Real Estate Investment Trust (TSE:CRT.UN - Free Report) had its price target raised by Royal Bank Of Canada from C$16.00 to C$17.00 in a research note published on Monday,BayStreet.CA reports. Royal Bank Of Canada currently has a sector perform rating on the real estate investment trust's stock.

Other equities analysts have also issued reports about the stock. Scotiabank lifted their price objective on shares of CT Real Estate Investment Trust from C$16.00 to C$16.50 and gave the company an "outperform" rating in a report on Tuesday, May 6th. National Bankshares lifted their price objective on shares of CT Real Estate Investment Trust from C$15.75 to C$15.95 and gave the company a "sector perform" rating in a report on Thursday, August 7th. Raymond James Financial raised their target price on shares of CT Real Estate Investment Trust from C$16.75 to C$17.00 and gave the company a "market perform" rating in a research note on Thursday, August 7th. Finally, Desjardins raised 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. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of C$16.42.

View Our Latest Stock Report on CT Real Estate Investment Trust

CT Real Estate Investment Trust Stock Up 0.7%

CRT.UN stock traded up C$0.11 during trading on Monday, hitting C$16.03. 27,347 shares of the company's stock traded hands, compared to its average volume of 153,719. The firm has a market capitalization of C$1.74 billion, a P/E ratio of 17.42, a PEG ratio of 0.76 and a beta of 1.00. The business has a fifty day simple moving average of C$15.82 and a two-hundred day simple moving average of C$15.15. 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 has a 1 year low of C$13.42 and a 1 year high of C$16.48.

CT Real Estate Investment Trust Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 15th will be paid a $0.079 dividend. This represents a c) annualized dividend and a yield of 5.9%. This is a positive change from CT Real Estate Investment Trust's previous monthly dividend of $0.08. The ex-dividend date is Thursday, July 31st. CT Real Estate Investment Trust's payout ratio is 101.09%.

About CT Real Estate Investment Trust

(Get Free Report)

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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