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

CT Real Estate Investment Trust (TSE:CRT.UN - Get Free Report) shares passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$15.82 and traded as high as C$15.95. CT Real Estate Investment Trust shares last traded at C$15.92, with a volume of 86,458 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CRT.UN. Raymond James Financial increased 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. 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 stock a "sector perform" rating in a research note on Thursday, August 7th. Scotiabank lifted their price objective on shares of CT Real Estate Investment Trust from C$16.00 to C$16.50 and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Royal Bank Of Canada lifted their price objective 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. Finally, Desjardins lifted their price objective 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 research note on Thursday, August 7th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of C$16.42.

CT Real Estate Investment Trust Price Performance

The stock's fifty day moving average is C$15.82 and its 200-day moving average is C$15.19. The stock has a market capitalization of C$1.76 billion, a PE ratio of 17.63, a P/E/G ratio of 0.76 and a beta of 1.00. The company has a debt-to-equity ratio of 75.45, a current ratio of 0.11 and a quick ratio of 0.10.

CT Real Estate Investment Trust Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, August 15th. Shareholders 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. This represents a c) dividend on an annualized basis and a yield of 5.8%. The ex-dividend date was Thursday, July 31st. CT Real Estate Investment Trust's dividend payout ratio (DPR) is currently 101.09%.

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.