CT Real Estate Investment Trust (TSE:CRT.UN) Hits New 12-Month High - Time to Buy?

Key Points

• CT Real Estate Investment Trust's shares reached a new 52-week high at C$16.60 during trading, with the last trade recorded at C$16.54.
• The company has recently increased its monthly dividend to $0.079, representing an annual yield of 5.8% and a payout ratio of 60.20%.
• Wall Street analysts have shown positive sentiment, with multiple price target raises for the stock, leading to an average rating of "Hold" and a consensus target price of C$16.49.

CT Real Estate Investment Trust (TSE:CRT.UN - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as C$16.60 and last traded at C$16.54, with a volume of 120531 shares changing hands. The stock had previously closed at C$16.28.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on CRT.UN shares. Raymond James Financial raised their price objective 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. Desjardins increased their price target on shares of CT Real Estate Investment Trust from C$15.50 to C$16.50 and gave the stock a "hold" rating in a report on Thursday, August 7th. 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. Finally, Royal Bank Of Canada increased 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 research note on Monday, August 11th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of C$16.49.

CT Real Estate Investment Trust Price Performance

The company has a debt-to-equity ratio of 75.45, a current ratio of 0.11 and a quick ratio of 0.10. The stock's fifty day moving average price is C$16.01 and its 200-day moving average price is C$15.48. The firm has a market cap of C$3.86 billion, a PE ratio of 10.56, a price-to-earnings-growth ratio of 0.76 and a beta of 0.97.

CT Real Estate Investment Trust Increases Dividend

The business also recently announced a monthly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 15th were paid a $0.079 dividend. This is a boost from CT Real Estate Investment Trust's previous monthly dividend of $0.08. The ex-dividend date of this dividend was Thursday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 5.8%. CT Real Estate Investment Trust's dividend payout ratio is 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.