CT Real Estate Investment Trust (TSE:CRT.UN) Hits New 52-Week High – Here’s What Happened

CT Real Estate Investment Trust (TSE:CRT.UN) shares reached a new 52-week high on Friday . The stock traded as high as C$18.42 and last traded at C$18.42, with a volume of 14141 shares traded. The stock had previously closed at C$18.24.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. TD increased their target price on shares of CT Real Estate Investment Trust from C$17.50 to C$18.00 and gave the stock a “hold” rating in a research report on Wednesday, May 13th. Raymond James Financial boosted their price target on shares of CT Real Estate Investment Trust from C$18.75 to C$19.00 and gave the company a “market perform” rating in a research report on Wednesday, May 13th. Scotia upped their price objective on shares of CT Real Estate Investment Trust from C$17.00 to C$18.50 and gave the stock a “sector perform” rating in a research note on Wednesday, May 13th. Finally, Desjardins raised their price objective on shares of CT Real Estate Investment Trust from C$18.00 to C$19.00 and gave the stock a “hold” rating in a report on Wednesday, May 13th. Eight analysts have rated the stock with a Hold rating, According to MarketBeat.com, CT Real Estate Investment Trust presently has a consensus rating of “Hold” and an average price target of C$17.90.

CT Real Estate Investment Trust Trading Up 0.8%

The business has a 50 day simple moving average of C$17.79 and a 200 day simple moving average of C$17.07. The company has a debt-to-equity ratio of 75.45, a current ratio of 0.11 and a quick ratio of 0.10. The company has a market cap of C$4.38 billion, a price-to-earnings ratio of 10.03, a price-to-earnings-growth ratio of 0.76 and a beta of 1.07.

CT Real Estate Investment Trust (TSE:CRT.UN) last announced its earnings results on Monday, May 11th. The real estate investment trust reported C$0.41 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$157.56 million during the quarter. As a group, equities analysts forecast 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 disclosed a monthly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 15th were issued a dividend of $0.079 per share. The ex-dividend date of this dividend was Thursday, April 30th. This represents a c) dividend on an annualized basis and a yield of 5.2%. CT Real Estate Investment Trust’s dividend payout ratio is currently 51.56%.

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.