CT Real Estate Investment Trust (TSE:CRT.UN) Price Target Raised to C$17.00

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.

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

A number of other equities research analysts also recently issued reports on the company. National Bankshares increased their price target on CT Real Estate Investment Trust from C$15.75 to C$15.95 and gave the stock a "sector perform" rating in a research report on Thursday, August 7th. Scotiabank increased their price objective on shares of CT Real Estate Investment Trust from C$16.00 to C$16.50 and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Raymond James Financial increased 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 report on Thursday, August 7th. Finally, Desjardins upped their target price on CT Real Estate Investment Trust from C$15.50 to C$16.50 and gave the stock a "hold" rating in a research note on Thursday, August 7th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, CT Real Estate Investment Trust currently has a consensus rating of "Hold" and a consensus price target of C$16.42.

CT Real Estate Investment Trust Stock Performance

Shares of TSE:CRT.UN traded up C$0.08 on Monday, reaching C$16.16. 149,548 shares of the company's stock were exchanged, compared to its average volume of 154,732. CT Real Estate Investment Trust has a twelve month low of C$13.42 and a twelve month high of C$16.48. The company has a fifty day moving average of C$15.82 and a 200-day moving average of C$15.17. The company has a market capitalization of C$1.75 billion, a price-to-earnings ratio of 17.57, a PEG ratio of 0.76 and a beta of 1.00. The company has a current ratio of 0.11, a quick ratio of 0.10 and a debt-to-equity ratio of 75.45.

CT Real Estate Investment Trust Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.079 per share. This represents a c) annualized dividend and a dividend yield of 5.9%. This is an increase 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 dividend payout ratio (DPR) is presently 101.09%.

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.