Raymond James Boosts Crombie Real Estate Investment Trust (TSE:CRR.UN) Price Target to C$16.75

Crombie Real Estate Investment Trust (TSE:CRR.UN) had its target price hoisted by Raymond James from C$16.25 to C$16.75 in a research report sent to investors on Friday morning, BayStreet.CA reports.

CRR.UN has been the subject of a number of other research reports. CIBC reduced their price target on Crombie Real Estate Investment Trust from C$17.00 to C$16.00 in a research report on Friday, May 10th. TD Securities boosted their price objective on shares of Crombie Real Estate Investment Trust from C$15.00 to C$16.00 and gave the stock a buy rating in a research report on Wednesday. Finally, Scotiabank decreased their target price on shares of Crombie Real Estate Investment Trust from C$16.00 to C$15.75 and set an outperform rating for the company in a research report on Monday, May 13th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of C$15.47.

Crombie Real Estate Investment Trust Stock Performance

Shares of Crombie Real Estate Investment Trust stock opened at C$15.15 on Friday. The company has a debt-to-equity ratio of 120.87, a current ratio of 0.14 and a quick ratio of 0.11. The firm has a market cap of C$1.64 billion, a price-to-earnings ratio of -54.11 and a beta of 0.94. The stock’s 50-day moving average is C$13.79 and its 200-day moving average is C$13.41. Crombie Real Estate Investment Trust has a one year low of C$11.68 and a one year high of C$15.24.

Crombie Real Estate Investment Trust Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 15th were given a dividend of $0.0742 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $0.89 annualized dividend and a yield of 5.88%. 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.