Crombie Real Estate Investment Trust (TSE:CRR.UN) Sets New 12-Month High After Analyst Upgrade

Shares of Crombie Real Estate Investment Trust (TSE:CRR.UN) hit a new 52-week high during mid-day trading on Monday after Raymond James raised their price target on the stock from C$16.25 to C$16.75. The stock traded as high as C$15.30 and last traded at C$15.25, with a volume of 8550 shares trading hands. The stock had previously closed at C$15.15.

Several other equities research analysts have also recently weighed in on CRR.UN. TD Securities raised their price objective on shares of Crombie Real Estate Investment Trust from C$15.00 to C$16.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. CIBC lowered their price target on shares of Crombie Real Estate Investment Trust from C$17.00 to C$16.00 in a report on Friday, May 10th. Finally, Scotiabank reduced their price objective on Crombie Real Estate Investment Trust from C$16.00 to C$15.75 and set an “outperform” rating on the stock in a report on Monday, May 13th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Crombie Real Estate Investment Trust presently has a consensus rating of “Moderate Buy” and a consensus price target of C$15.47.

Crombie Real Estate Investment Trust Stock Performance

The stock’s 50 day moving average is C$13.79 and its two-hundred day moving average is C$13.40. The stock has a market capitalization of C$1.65 billion, a price-to-earnings ratio of -54.11 and a beta of 0.94. The company has a current ratio of 0.14, a quick ratio of 0.11 and a debt-to-equity ratio of 120.87.

Crombie Real Estate Investment Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 15th were issued a $0.0742 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $0.89 dividend on an annualized basis and a dividend yield of 5.82%. Crombie Real Estate Investment Trust’s dividend payout ratio (DPR) is presently -317.86%.

About Crombie Real Estate Investment Trust

Crombie Real Estate Investment Trust ("Crombie") is an unincorporated, open-ended real estate investment trust established under, and governed by, the laws of the Province of Ontario. Crombie is one of the country's leading national retail property landlords with a strategy to own, operate and develop a portfolio of high quality grocery and drug store anchored shopping centres, freestanding stores and mixed use developments primarily in Canada's top urban and suburban markets.