CT Real Estate Investment Trust (TSE:CRT.UN) Shares Pass Above 50-Day Moving Average - Should You Sell?

Key Points

• CT Real Estate Investment Trust shares moved above their 50-day moving average, trading as high as C$18.61 before last changing hands at C$18.46. The move came on volume of 159,336 shares.
• Analysts remain cautious overall, with eight analysts rating the stock a Hold and a consensus target price of C$17.90. Several firms recently nudged their price targets higher, including Raymond James, TD, Scotia, and Desjardins.
• The trust continues to pay a monthly dividend of C$0.0818 per share, payable Aug. 17, for an annualized yield of 5.3%. Its payout ratio is currently 51.56%.

Shares of CT Real Estate Investment Trust (TSE:CRT.UN - Get Free Report) passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$18.01 and traded as high as C$18.61. CT Real Estate Investment Trust shares last traded at C$18.46, with a volume of 159,336 shares traded.

Analysts Set New Price Targets

CRT.UN has been the topic of several research analyst reports. Raymond James Financial upped their target price on CT Real Estate Investment Trust from C$18.75 to C$19.00 and gave the company a "market perform" rating in a research report on Wednesday, May 13th. TD lifted their target price on CT Real Estate Investment Trust from C$17.50 to C$18.00 and gave the stock a "hold" rating in a report on Wednesday, May 13th. Scotia boosted their price target on CT Real Estate Investment Trust from C$17.00 to C$18.50 and gave the company a "sector perform" rating in a research note on Wednesday, May 13th. Finally, Desjardins boosted their price target on CT Real Estate Investment Trust from C$18.00 to C$19.00 and gave the company a "hold" rating in a research note on Wednesday, May 13th. Eight analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of C$17.90.

CT Real Estate Investment Trust Price Performance

The company has a debt-to-equity ratio of 75.45, a quick ratio of 0.10 and a current ratio of 0.11. The business has a 50 day simple moving average of C$18.01 and a 200-day simple moving average of C$17.29. The firm has a market cap of C$4.40 billion, a price-to-earnings ratio of 10.08, a P/E/G ratio of 0.76 and a beta of 1.06.

CT Real Estate Investment Trust (TSE:CRT.UN - Get Free Report) last posted its earnings results on Monday, May 11th. The real estate investment trust reported C$0.41 earnings per share for the quarter. The company had revenue of C$157.56 million for the quarter. CT Real Estate Investment Trust had a return on equity of 6.46% and a net margin of 20.63%. Equities research analysts expect that CT Real Estate Investment Trust will post 1.1696833 earnings per share for the current year.

CT Real Estate Investment Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, August 17th will be issued a dividend of $0.0818 per share. This represents a c) dividend on an annualized basis and a yield of 5.3%. The ex-dividend date of this dividend is Friday, July 31st. CT Real Estate Investment Trust's payout ratio is currently 51.56%.

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. The trust's portfolio primarily consists of properties anchored by a Canadian Tire retail store, in addition to retail properties not anchored by Canadian Tire, distribution centres, and mixed-use commercial property.

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