Desjardins Raises CT Real Estate Investment Trust (TSE:CRT.UN) Price Target to C$16.50

Key Points

• Desjardins has raised the price target for CT Real Estate Investment Trust (TSE:CRT.UN) from C$15.50 to C$16.50, indicating a potential upside of 4.23% from the stock's previous close.
• Several brokerages have issued updates on CRT.UN, with Scotiabank also increasing their target price to C$16.50 and Raymond James boosting theirs to C$17.00.
• The current consensus rating for the stock is "Hold," with an average price target of C$16.33 according to MarketBeat.com.

CT Real Estate Investment Trust (TSE:CRT.UN - Get Free Report) had its price target hoisted by Desjardins from C$15.50 to C$16.50 in a research report issued on Thursday,BayStreet.CA reports. The brokerage currently has a "hold" rating on the real estate investment trust's stock. Desjardins' price objective would indicate a potential upside of 4.23% from the company's previous close.

CRT.UN has been the subject of several other reports. Scotiabank upped their target price on shares of CT Real Estate Investment Trust from C$16.00 to C$16.50 and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Raymond James Financial boosted their price objective on 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. Finally, National Bankshares boosted their target price on CT Real Estate Investment Trust from C$15.50 to C$15.75 and gave the stock a "sector perform" rating in a report on Wednesday, May 7th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of C$16.33.

CT Real Estate Investment Trust Stock Up 1.8%

TSE CRT.UN traded up C$0.28 during midday trading on Thursday, hitting C$15.83. 148,760 shares of the company traded hands, compared to its average volume of 155,105. CT Real Estate Investment Trust has a 52 week low of C$13.42 and a 52 week high of C$16.48. The company has a market cap of C$1.71 billion, a PE ratio of 17.21, a price-to-earnings-growth 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. The company's 50-day simple moving average is C$15.83 and its 200-day simple moving average is C$15.09.

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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