Crombie Real Estate Investment Trust (TSE:CRR.UN) Receives C$15.53 Average Target Price from Analysts

Shares of Crombie Real Estate Investment Trust (TSE:CRR.UN) have earned a consensus rating of “Moderate Buy” from the nine ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is C$15.53.

Several brokerages have weighed in on CRR.UN. TD Securities increased their target price on 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, September 4th. Canaccord Genuity Group increased their price objective on shares of Crombie Real Estate Investment Trust from C$14.00 to C$15.00 and gave the stock a “hold” rating in a report on Monday, September 16th. Finally, Raymond James lifted their price objective on shares of Crombie Real Estate Investment Trust from C$16.25 to C$16.75 in a research report on Friday, September 6th.

Crombie Real Estate Investment Trust Stock Performance

The firm’s 50-day moving average price is C$14.77 and its 200 day moving average price is C$13.64. Crombie Real Estate Investment Trust has a 52-week low of C$11.81 and a 52-week high of C$16.22. The firm has a market cap of C$1.67 billion, a price-to-earnings ratio of -54.79 and a beta of 0.94. The company has a debt-to-equity ratio of 120.87, a quick ratio of 0.11 and a current ratio of 0.14.

Crombie Real Estate Investment Trust Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 15th will be issued a $0.0742 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.89 annualized dividend and a dividend yield of ∞. Crombie Real Estate Investment Trust’s dividend payout ratio is currently -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.