Analysts Set Crombie Real Estate Investment Trust (TSE:CRR.UN) Target Price at C$16.06

Shares of Crombie Real Estate Investment Trust (TSE:CRR.UN) have received an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is C$16.06.

A number of analysts recently weighed in on CRR.UN shares. BMO Capital Markets boosted their target price on Crombie Real Estate Investment Trust from C$15.00 to C$16.00 in a research report on Monday, October 28th. National Bankshares raised their price target on shares of Crombie Real Estate Investment Trust from C$15.25 to C$17.00 in a report on Wednesday, October 9th. TD Securities boosted their target price on Crombie Real Estate Investment Trust from C$15.00 to C$16.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Canaccord Genuity Group increased their price target 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 research note on Monday, September 16th. Finally, Raymond James increased their price objective on Crombie Real Estate Investment Trust from C$16.25 to C$16.75 in a report on Friday, September 6th.

Crombie Real Estate Investment Trust Price Performance

TSE:CRR.UN opened at C$13.18 on Tuesday. The firm has a market capitalization of C$1.42 billion, a price-to-earnings ratio of -47.07 and a beta of 0.95. 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 has a fifty day moving average of C$14.61 and a 200 day moving average of C$14.12. Crombie Real Estate Investment Trust has a 52-week low of C$12.25 and a 52-week high of C$16.22.

Crombie Real Estate Investment Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 15th were issued a $0.0742 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $0.89 dividend on an annualized basis and a yield of 6.76%. Crombie Real Estate Investment Trust’s 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.