Crombie Real Estate Investment Trust (TSE:CRR.UN) Given New C$16.00 Price Target at BMO Capital Markets

Crombie Real Estate Investment Trust (TSE:CRR.UN) had its target price increased by BMO Capital Markets from C$15.00 to C$16.00 in a research report released on Monday morning, BayStreet.CA reports.

A number of other equities research analysts have also issued reports on the stock. 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 company a “buy” rating in a research note on Wednesday, September 4th. National Bankshares lifted their price objective on Crombie Real Estate Investment Trust from C$15.25 to C$17.00 in a research report on Wednesday, October 9th. Canaccord Genuity Group upped their target price 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. Finally, Raymond James raised their price target on Crombie Real Estate Investment Trust from C$16.25 to C$16.75 in a research note on Friday, September 6th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$15.94.

Crombie Real Estate Investment Trust Price Performance

Shares of CRR.UN opened at C$14.93 on Monday. The business’s 50-day moving average is C$15.26 and its 200-day moving average is C$13.81. The company has a debt-to-equity ratio of 120.87, a current ratio of 0.14 and a quick ratio of 0.11. The company has a market capitalization of C$1.61 billion, a price-to-earnings ratio of -53.32 and a beta of 0.95. Crombie Real Estate Investment Trust has a fifty-two week low of C$11.98 and a fifty-two week high of C$16.22.

Crombie Real Estate Investment Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 15th will be paid a $0.0742 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.89 dividend on an annualized basis and a yield of 5.96%. Crombie Real Estate Investment Trust’s payout ratio is presently -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.