Desjardins Forecasts Strong Price Appreciation for CT Real Estate Investment Trust (TSE:CRT.UN) Stock

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 - Free Report) had its price target upped by Desjardins from C$15.50 to C$16.50 in a research report report published on Thursday,BayStreet.CA reports. They currently have a hold rating on the real estate investment trust's stock.

CRT.UN has been the topic of a number of other research reports. National Bankshares upped their price objective 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. Raymond James Financial lifted their target price on CT Real Estate Investment Trust from C$16.75 to C$17.00 and gave the stock a "market perform" rating in a report on Thursday. Finally, Scotiabank lifted their price target on CT Real Estate Investment Trust from C$16.00 to C$16.50 and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, CT Real Estate Investment Trust has an average rating of "Hold" and an average price target of C$16.42.

CT Real Estate Investment Trust Stock Performance

TSE CRT.UN traded up C$0.07 during trading hours on Thursday, reaching C$15.78. The stock had a trading volume of 134,803 shares, compared to its average volume of 155,274. The stock has a fifty day moving average of C$15.83 and a 200 day moving average of C$15.14. 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 debt-to-equity ratio of 75.45, a quick ratio of 0.10 and a current ratio of 0.11. The stock has a market cap of C$1.71 billion, a P/E ratio of 17.15, a price-to-earnings-growth ratio of 0.76 and a beta of 1.00.

CT Real Estate Investment Trust Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 15th will be given a $0.079 dividend. The ex-dividend date is Thursday, July 31st. This represents a c) annualized dividend and a yield of 6.0%. This is a boost from CT Real Estate Investment Trust's previous monthly dividend of $0.08. CT Real Estate Investment Trust's payout ratio is 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.