Crombie Real Estate Investment Trust (TSE:CRR.UN) Hits New 12-Month High at $16.10

Crombie Real Estate Investment Trust (TSE:CRR.UN) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$16.10 and last traded at C$16.02, with a volume of 2960 shares traded. The stock had previously closed at C$15.90.

Analysts Set New Price Targets

Several research firms have commented on CRR.UN. Raymond James lifted their price target on shares of Crombie Real Estate Investment Trust from C$16.25 to C$16.75 in a research note on Friday, September 6th. TD Securities lifted their target price on shares of 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. Finally, Canaccord Genuity Group boosted 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. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$15.53.

Crombie Real Estate Investment Trust Stock Up 0.7 %

The firm has a market cap of C$1.73 billion, a PE ratio of -57.21 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. The company’s 50-day simple moving average is C$14.51 and its two-hundred day simple moving average is C$13.56.

Crombie Real Estate Investment Trust Announces Dividend

The company also recently announced a monthly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.0742 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $0.89 dividend on an annualized basis and a dividend yield of 5.56%. 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.