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

Key Points

• Shares briefly moved above the 50-day moving average of C$17.29, reaching C$17.31 before last trading at C$17.09, down 0.5%.
• Analyst sentiment remains cautious: Raymond James upgraded the trust to “outperform” with a C$19.25 target, while the broader consensus is “Hold” with a C$18.18 target.
• CT REIT reported quarterly EPS of C$0.45 on C$156.71 million in revenue and offers a monthly dividend equivalent to C$0.98 annually, yielding approximately 5.7%.

CT Real Estate Investment Trust (TSE:CRT.UN - Get Free Report)'s share price passed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of C$17.29 and traded as high as C$17.31. CT Real Estate Investment Trust shares last traded at C$17.09, with a volume of 298,571 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CRT.UN shares. Raymond James Financial upgraded shares of CT Real Estate Investment Trust from a "market perform" rating to an "outperform" rating and set a C$19.25 target price on the stock in a report on Friday, October 2nd. Royal Bank Of Canada boosted their price target on CT Real Estate Investment Trust from C$18.50 to C$19.00 and gave the stock a "sector perform" rating in a research note on Wednesday, August 19th. One analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of C$18.18.

CT Real Estate Investment Trust Trading Down 0.5%

The stock has a market capitalization of C$4.09 billion, a price-to-earnings ratio of 8.91, a P/E/G ratio of 0.76 and a beta of 0.96. 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 company has a 50 day moving average of C$17.29 and a 200 day moving average of C$17.68.

CT Real Estate Investment Trust (TSE:CRT.UN - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The real estate investment trust reported C$0.45 EPS for the quarter. CT Real Estate Investment Trust had a return on equity of 6.46% and a net margin of 20.63%. The firm had revenue of C$156.71 million for the quarter. On average, research analysts predict that CT Real Estate Investment Trust will post 1.17 EPS for the current fiscal year.

CT Real Estate Investment Trust Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 17th were given a dividend of $0.0818 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.98 dividend on an annualized basis and a dividend yield of 5.7%. CT Real Estate Investment Trust's dividend payout ratio (DPR) is presently 49.59%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.