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

Key Points

• CT Real Estate Investment Trust's stock price surpassed its fifty-day moving average, with current trading at C$16.37.
• The company raised its monthly dividend to $0.079, reflecting a 5.8% annualized yield and a payout ratio of 60.20%.
• Analysts maintain an average rating of "Hold" for CRT.UN, with target prices adjusted to range between C$15.95 and C$17.00.

CT Real Estate Investment Trust (TSE:CRT.UN - Get Free Report)'s share price crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$15.96 and traded as high as C$16.57. CT Real Estate Investment Trust shares last traded at C$16.37, with a volume of 91,966 shares.

Wall Street Analysts Forecast Growth

CRT.UN has been the subject of a number of analyst reports. 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 report on Thursday, August 7th. Royal Bank Of Canada increased their price objective on CT Real Estate Investment Trust from C$16.00 to C$17.00 and gave the company a "sector perform" rating in a report on Monday, August 11th. Raymond James Financial increased their price objective on CT Real Estate Investment Trust from C$16.75 to C$17.00 and gave the company a "market perform" rating in a report on Thursday, August 7th. Finally, National Bankshares increased their price objective on 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. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of C$16.49.

CT Real Estate Investment Trust Price Performance

The firm has a 50-day simple moving average of C$16.00 and a two-hundred day simple moving average of C$15.47. The company has a market capitalization of C$3.91 billion, a price-to-earnings ratio of 10.69, a P/E/G ratio of 0.76 and a beta of 0.97. 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 firm also recently announced a monthly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 15th were given a dividend of $0.079 per share. This is a boost from CT Real Estate Investment Trust's previous monthly dividend of $0.08. The ex-dividend date 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 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.