CT Real Estate Investment Trust (TSE:CRT.UN) Shares Cross Below Two Hundred Day Moving Average - Time to Sell?

Key Points

• CT Real Estate Investment Trust shares fell below their 200-day moving average, trading as low as C$17.08 versus the C$17.66 average, and last changing hands at C$17.21.
• Analysts maintain a consensus “Hold” rating, with an average price target of C$18.06; recent targets range from C$18.00 to C$19.25.
• The trust reported quarterly EPS of C$0.45 on C$156.71 million in revenue and pays a monthly dividend of C$0.0818 per share, representing an annualized yield of approximately 5.7%.

CT Real Estate Investment Trust (TSE:CRT.UN - Get Free Report) shares crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$17.66 and traded as low as C$17.08. CT Real Estate Investment Trust shares last traded at C$17.21, with a volume of 232,563 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CRT.UN. Royal Bank Of Canada lifted their price target on CT Real Estate Investment Trust from C$18.50 to C$19.00 and gave the company a "sector perform" rating in a report on Wednesday, August 19th. Desjardins increased their price objective on CT Real Estate Investment Trust from C$18.00 to C$19.00 and gave the stock a "hold" rating in a research note on Wednesday, May 13th. Scotia raised their price objective on CT Real Estate Investment Trust from C$17.00 to C$18.50 and gave the stock a "sector perform" rating in a research report on Wednesday, May 13th. TD raised their price objective on CT Real Estate Investment Trust from C$17.50 to C$18.00 and gave the stock a "hold" rating in a research report on Wednesday, May 13th. Finally, Raymond James Financial lowered their target price on CT Real Estate Investment Trust from C$19.75 to C$19.25 and set a "market perform" rating on the stock in a research note on Wednesday, August 12th. Eight analysts have rated the stock with a Hold rating, According to MarketBeat, CT Real Estate Investment Trust presently has a consensus rating of "Hold" and an average target price of C$18.06.

CT Real Estate Investment Trust Price Performance

The company's 50-day simple moving average is C$18.19 and its 200 day simple moving average is C$17.66. The company has a market capitalization of C$4.11 billion, a P/E ratio of 8.97, a P/E/G ratio of 0.76 and a beta of 0.98. The company has a quick ratio of 0.10, a current ratio of 0.11 and a debt-to-equity ratio of 75.45.

CT Real Estate Investment Trust (TSE:CRT.UN - Get Free Report) last released its quarterly earnings data on Monday, August 10th. The real estate investment trust reported C$0.45 earnings per share (EPS) for the quarter. The business had revenue of C$156.71 million during the quarter. CT Real Estate Investment Trust had a net margin of 20.63% and a return on equity of 6.46%. As a group, sell-side analysts expect that CT Real Estate Investment Trust will post 1.1696833 earnings per share for the current fiscal year.

CT Real Estate Investment Trust Announces Dividend

The business also recently announced a monthly dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 17th were issued a dividend of $0.0818 per share. This represents a c) annualized dividend and a yield of 5.7%. The ex-dividend date was Friday, July 31st. CT Real Estate Investment Trust's dividend payout ratio (DPR) is 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.

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