Crombie Real Estate Investment Trust (TSE:CRR.UN) Share Price Crosses Above 200-Day Moving Average of $17.93

Crombie Real Estate Investment Trust (TSE:CRR.UN)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$17.93 and traded as high as C$18.54. Crombie Real Estate Investment Trust shares last traded at C$18.54, with a volume of 94,357 shares trading hands.

A number of research analysts have recently issued reports on CRR.UN shares. Scotiabank increased their target price on Crombie Real Estate Investment Trust from C$19.50 to C$20.00 in a research report on Wednesday, October 20th. BMO Capital Markets increased their price objective on Crombie Real Estate Investment Trust from C$18.50 to C$19.50 in a research note on Friday, November 12th. National Bankshares increased their price objective on Crombie Real Estate Investment Trust from C$19.50 to C$20.00 and gave the company an “outperform” rating in a research note on Friday, November 12th. Canaccord Genuity increased their price objective on Crombie Real Estate Investment Trust from C$17.00 to C$18.75 in a research note on Friday, August 6th. Finally, Royal Bank of Canada increased their price objective on Crombie Real Estate Investment Trust from C$19.00 to C$19.50 and gave the company a “sector perform” rating in a research note on Thursday, November 18th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of C$19.31.

The firm has a market capitalization of C$2.89 billion and a price-to-earnings ratio of 30.81. The business has a 50 day simple moving average of C$18.17 and a 200-day simple moving average of C$17.94. The company has a debt-to-equity ratio of 157.13, a quick ratio of 0.12 and a current ratio of 0.32.

The business also recently announced a monthly dividend, which will be paid on Wednesday, December 15th. Shareholders of record on Wednesday, December 15th will be paid a $0.0742 dividend. This represents a $0.89 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date of this dividend is Monday, November 29th. Crombie Real Estate Investment Trust’s dividend payout ratio (DPR) is presently 155.87%.

In related news, Director John Michael Arthur Knowlton sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, November 16th. The stock was sold at an average price of C$18.35, for a total transaction of C$458,757.50. Following the completion of the sale, the director now directly owns 13,500 shares of the company’s stock, valued at approximately C$247,729.05.

About Crombie Real Estate Investment Trust (TSE:CRR.UN)

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.

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