Raymond James Financial upgraded shares of Crombie Real Estate Investment Trust (TSE:CRR.UN - Free Report) from an outperform rating to a strong-buy rating in a research report released on Thursday,BayStreet.CA reports. Raymond James Financial currently has C$17.25 target price on the stock.
Crombie Real Estate Investment Trust Price Performance
Crombie Real Estate Investment Trust stock traded up C$0.07 during midday trading on Thursday, reaching C$14.99. The company's stock had a trading volume of 90,041 shares, compared to its average volume of 188,875. Crombie Real Estate Investment Trust has a fifty-two week low of C$13.01 and a fifty-two week high of C$16.22. The company has a debt-to-equity ratio of 120.87, a quick ratio of 0.11 and a current ratio of 0.14. The stock's 50 day simple moving average is C$14.72 and its 200 day simple moving average is C$14.26. The firm has a market capitalization of C$1.62 billion, a PE ratio of -53.54 and a beta of 0.95.
Crombie Real Estate Investment Trust Dividend Announcement
The company also recently declared a monthly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.0742 per share. This represents a $0.89 annualized dividend and a dividend yield of 5.94%. The ex-dividend date is Thursday, July 31st. Crombie Real Estate Investment Trust's dividend payout ratio (DPR) is presently -317.86%.
About Crombie Real Estate Investment Trust
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Crombie Real Estate Investment Trust is a Canada-based open-end REIT that focuses on the retail industry. The company invests, operates, and develops a portfolio of grocery-store- and drugstore-anchored shopping centres, freestanding stores, offices, and mixed-use developments. The properties are located primarily in Canada's urban and suburban markets.
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