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

Key Points

• Raymond James Financial has increased the price target for CT Real Estate Investment Trust stock from C$16.75 to C$17.00, indicating a potential upside of 7.39%.
• CT Real Estate Investment Trust is primarily focused on retail properties in Canada, with most revenue coming from leasing to Canadian Tire Corporation.
• The stock has a current market cap of C$1.71 billion and a twelve-month trading range of C$13.42 to C$16.48.

CT Real Estate Investment Trust (TSE:CRT.UN - Get Free Report) had its price target hoisted by equities research analysts at Raymond James Financial from C$16.75 to C$17.00 in a research report issued on Thursday,BayStreet.CA reports. The firm currently has a "market perform" rating on the real estate investment trust's stock. Raymond James Financial's target price suggests a potential upside of 7.39% from the stock's previous close.

A number of other analysts have also recently commented on CRT.UN. National Bankshares upped their price target on shares of CT Real Estate Investment Trust from C$15.50 to C$15.75 and gave the company a "sector perform" rating in a research report on Wednesday, May 7th. Scotiabank increased 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 report on Tuesday, May 6th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of C$16.33.

CT Real Estate Investment Trust Stock Performance

Shares of TSE:CRT.UN traded up C$0.28 during trading on Thursday, reaching C$15.83. 148,760 shares of the stock were exchanged, compared to its average volume of 155,105. CT Real Estate Investment Trust has a 12 month low of C$13.42 and a 12 month high of C$16.48. The firm has a market cap of C$1.71 billion, a PE ratio of 17.21, a PEG ratio of 0.76 and a beta of 1.00. The stock has a 50-day moving average price of C$15.83 and a 200-day moving average price of C$15.09. The company has a current ratio of 0.11, a quick ratio of 0.10 and a debt-to-equity ratio of 75.45.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.