CT Real Estate Investment Trust (TSE:CRT.UN) Sets New 1-Year High – Here’s Why

Shares of CT Real Estate Investment Trust (TSE:CRT.UN) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$17.48 and last traded at C$17.48, with a volume of 8579 shares. The stock had previously closed at C$17.35.

Analyst Ratings Changes

Separately, Royal Bank Of Canada lifted their price objective on CT Real Estate Investment Trust from C$17.00 to C$18.00 and gave the stock a “sector perform” rating in a report on Monday, February 23rd. Six research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of C$17.03.

CT Real Estate Investment Trust Stock Performance

The firm has a fifty day moving average of C$16.90 and a 200-day moving average of C$16.53. The stock has a market capitalization of C$4.19 billion, a price-to-earnings ratio of 9.85, a PEG 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) last released its quarterly earnings results on Thursday, March 19th. The real estate investment trust reported C$0.63 earnings per share for the quarter. CT Real Estate Investment Trust had a return on equity of 6.46% and a net margin of 20.63%.The company had revenue of C$152.92 million during the quarter. As a group, sell-side analysts anticipate that CT Real Estate Investment Trust will post 1.1696833 EPS for the current year.

CT Real Estate Investment Trust Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 15th will be issued a $0.079 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend is Thursday, April 30th. CT Real Estate Investment Trust’s payout ratio is 52.56%.

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. 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.