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

Shares of Crombie Real Estate Investment Trust (TSE:CRR.UN) have earned a consensus recommendation of “Buy” from the six ratings firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is C$16.06.

CRR.UN has been the subject of a number of analyst reports. Canaccord Genuity Group boosted their price target on Crombie Real Estate Investment Trust from C$14.00 to C$15.00 and gave the stock a “hold” rating in a research report on Monday, September 16th. BMO Capital Markets boosted their price target on Crombie Real Estate Investment Trust from C$15.00 to C$16.00 in a research report on Monday, October 28th. Raymond James upgraded Crombie Real Estate Investment Trust from an “outperform” rating to a “strong-buy” rating and reduced their price target for the stock from C$17.25 to C$16.75 in a research report on Monday. Finally, National Bankshares boosted their price target on Crombie Real Estate Investment Trust from C$15.25 to C$17.00 in a research report on Wednesday, October 9th.

Crombie Real Estate Investment Trust Price Performance

Shares of CRR.UN opened at C$13.16 on Friday. The company has a market cap of C$1.42 billion, a P/E ratio of -47.00 and a beta of 0.95. The stock has a fifty day moving average price of C$13.98 and a 200 day moving average price of C$14.20. The company has a debt-to-equity ratio of 120.87, a current ratio of 0.14 and a quick ratio of 0.11. Crombie Real Estate Investment Trust has a 12 month low of C$12.25 and a 12 month high of C$16.22.

Crombie Real Estate Investment Trust Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 15th were given a dividend of $0.0742 per share. This represents a $0.89 annualized dividend and a yield of 6.77%. The ex-dividend date of this dividend was Thursday, October 31st. Crombie Real Estate Investment Trust’s payout ratio is -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.