CT Real Estate Investment Trust (TSE:CRT.UN) Sets New 1-Year High - Here's What Happened

Key Points

• CT Real Estate Investment Trust (TSE:CRT.UN) reached a new 52-week high of C$16.58, closing at C$16.56 with a trading volume of 61,413 shares on Friday.
• Equities analysts have adjusted their price targets for the stock, with a new average target of C$16.49, reflecting mostly "Hold" ratings from analysts.
• The company also increased its monthly dividend to $0.079, providing an annualized yield of 5.7%, up from the previous dividend of $0.08.

CT Real Estate Investment Trust (TSE:CRT.UN - Get Free Report) hit a new 52-week high on Friday . The stock traded as high as C$16.58 and last traded at C$16.56, with a volume of 61413 shares changing hands. The stock had previously closed at C$16.37.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. National Bankshares lifted 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 report on Thursday, August 7th. Desjardins lifted their price target on 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. Royal Bank Of Canada lifted their price target on 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. Finally, Raymond James Financial lifted their price target on CT Real Estate Investment Trust from C$16.75 to C$17.00 and gave the stock a "market perform" rating in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of C$16.49.

CT Real Estate Investment Trust Price Performance

The company has a current ratio of 0.11, a quick ratio of 0.10 and a debt-to-equity ratio of 75.45. The business's 50 day moving average price is C$15.93 and its two-hundred day moving average price is C$15.39. The stock has a market cap of C$3.93 billion, a P/E ratio of 10.75, a price-to-earnings-growth ratio of 0.76 and a beta of 0.97.

CT Real Estate Investment Trust Increases Dividend

The company also recently announced a monthly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 15th were issued a $0.079 dividend. This represents a c) annualized dividend and a yield of 5.7%. 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. CT Real Estate Investment Trust's dividend payout ratio is presently 60.20%.

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.

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