CT Real Estate Investment Trust (TSE:CRT.UN) Shares Pass Above 50-Day Moving Average - Here's What Happened

Key Points

• CT Real Estate Investment Trust's shares crossed above their 50-day moving average, reaching a high of C$16.29 before closing at C$16.27.
• Analysts have raised their price targets for the stock, with National Bankshares increasing theirs to C$17.20 and Royal Bank of Canada setting it at C$17.00, while the average target stands at C$16.70.
• The trust recently increased its monthly dividend to $0.079 per share, marking a yield of 5.8%, up from the previous $0.08 monthly payout.

Shares of CT Real Estate Investment Trust (TSE:CRT.UN - Get Free Report) crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$16.18 and traded as high as C$16.29. CT Real Estate Investment Trust shares last traded at C$16.27, with a volume of 104,495 shares trading hands.

Analysts Set New Price Targets

CRT.UN has been the topic of a number of analyst reports. National Bankshares lifted their price objective on CT Real Estate Investment Trust from C$15.95 to C$17.20 and gave the company a "sector perform" rating in a research report on Wednesday, October 8th. Raymond James Financial lifted their target price on 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. Desjardins lifted their price objective 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. Finally, Royal Bank Of Canada lifted their price objective on 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 issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of C$16.70.

CT Real Estate Investment Trust Trading Up 0.9%

The stock has a market cap of C$3.86 billion, a P/E ratio of 10.56, a P/E/G ratio of 0.76 and a beta of 0.92. 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 company has a 50-day moving average price of C$16.18 and a two-hundred day moving average price of C$15.66.

CT Real Estate Investment Trust Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 15th were issued a dividend of $0.079 per share. This represents a c) dividend on an annualized basis and a yield of 5.8%. The ex-dividend date was Thursday, July 31st. This is an increase from CT Real Estate Investment Trust's previous monthly dividend of $0.08. CT Real Estate Investment Trust's dividend payout ratio (DPR) is presently 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.

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