Crombie Real Estate Investment Trust (TSE:CRR.UN) Sets New 1-Year High at $16.03

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Shares of Crombie Real Estate Investment Trust (TSE:CRR.UN) hit a new 52-week high on Friday . The company traded as high as C$16.03 and last traded at C$15.90, with a volume of 147742 shares. The stock had previously closed at C$15.96.

A number of brokerages recently weighed in on CRR.UN. National Bank Financial upped their price objective on Crombie Real Estate Investment Trust from C$16.50 to C$17.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Royal Bank of Canada upped their price objective on Crombie Real Estate Investment Trust from C$15.50 to C$16.00 and gave the stock a “sector perform” rating in a report on Monday, August 12th. TD Securities upped their price objective on Crombie Real Estate Investment Trust from C$16.00 to C$17.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Canaccord Genuity upped their price objective on Crombie Real Estate Investment Trust from C$15.75 to C$16.50 in a report on Wednesday, September 4th. Finally, CIBC boosted their target price on Crombie Real Estate Investment Trust from C$16.00 to C$17.00 in a research report on Friday, August 9th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of C$16.31.

The company has a debt-to-equity ratio of 158.43, a current ratio of 0.44 and a quick ratio of 0.01. The company has a 50-day moving average price of C$15.63 and a 200-day moving average price of C$15.03. The firm has a market capitalization of $1.43 billion and a PE ratio of 20.20.

The firm also recently announced a monthly dividend, which was paid on Friday, September 13th. Investors of record on Friday, September 13th were paid a $0.0742 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $0.89 annualized dividend and a yield of 5.60%. Crombie Real Estate Investment Trust’s payout ratio is currently 113.09%.

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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