Crombie Real Estate Investment Trust (TSE:CRR.UN) Rating Lowered to “Outperform” at Raymond James Financial

Crombie Real Estate Investment Trust (TSE:CRR.UN) was downgraded by equities researchers at Raymond James Financial from a “strong-buy” rating to an “outperform” rating in a research report issued on Wednesday,BayStreet.CA reports.

Separately, National Bankshares raised their price objective on shares of Crombie Real Estate Investment Trust from C$16.50 to C$17.00 and gave the company an “outperform” rating in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Crombie Real Estate Investment Trust currently has an average rating of “Buy” and an average price target of C$17.25.

Crombie Real Estate Investment Trust Stock Performance

TSE CRR.UN opened at C$15.87 on Wednesday. The company has a fifty day simple moving average of C$15.36 and a 200 day simple moving average of C$15.09. Crombie Real Estate Investment Trust has a 12-month low of C$13.01 and a 12-month high of C$16.14. The company has a current ratio of 0.14, a quick ratio of 0.11 and a debt-to-equity ratio of 120.87. The company has a market cap of C$2.96 billion, a P/E ratio of 959.78 and a beta of 0.80.

About Crombie Real Estate Investment Trust

Crombie Real Estate Investment Trust is a Canada-based open-end REIT that focuses on the retail industry. The company invests, operates, and develops a portfolio of grocery-store- and drugstore-anchored shopping centres, freestanding stores, offices, and mixed-use developments. The properties are located primarily in Canada’s urban and suburban markets. Crombie’s major tenants include retailers such as Sobeys, Shoppers Drug Mart, Cineplex, and Province of Nova Scotia. The company’s property portfolio includes Aberdeen Business Centre, Barrington Place, Brunswick Place, Kenmount Business Centre, Barrington Tower, CIBC Building, Amherst Centre, Avalon Mall, County Fair Mall, and others.