Crombie Real Estate Investment Trust Declares Monthly Dividend of $0.07 (TSE:CRR.UN)

Crombie Real Estate Investment Trust (TSE:CRR.UN) announced a monthly dividend on Friday, January 28th, TickerTech reports. Shareholders of record on Tuesday, February 15th will be paid a dividend of 0.0742 per share on Tuesday, February 15th. This represents a $0.89 dividend on an annualized basis and a yield of 5.16%. The ex-dividend date is Friday, January 28th.

Shares of CRR.UN stock opened at C$17.26 on Wednesday. Crombie Real Estate Investment Trust has a 52-week low of C$14.15 and a 52-week high of C$19.09. 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 firm has a market capitalization of C$2.84 billion and a PE ratio of 30.23. The stock has a fifty day simple moving average of C$17.96 and a two-hundred day simple moving average of C$18.10.

Several brokerages have recently issued reports on CRR.UN. CIBC upped their price objective on Crombie Real Estate Investment Trust from C$19.00 to C$19.50 and gave the stock an “outperform” rating in a report on Friday, November 12th. Scotiabank upped their price objective on Crombie Real Estate Investment Trust from C$19.50 to C$20.00 in a report on Wednesday, October 20th. BMO Capital Markets upgraded Crombie Real Estate Investment Trust from a “market perform” rating to an “outperform” rating and set a C$19.50 price target on the stock in a report on Friday, December 17th. Royal Bank of Canada increased their price target on Crombie Real Estate Investment Trust from C$19.00 to C$19.50 and gave the company a “sector perform” rating in a report on Thursday, November 18th. Finally, National Bankshares increased their price target on Crombie Real Estate Investment Trust from C$19.50 to C$20.00 and gave the company an “outperform” rating in a report on Friday, November 12th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Crombie Real Estate Investment Trust has a consensus rating of “Buy” and an average target price of C$19.31.

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In other news, Director John Michael Arthur Knowlton sold 25,000 shares of the stock in a transaction on 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 transaction, the director now owns 13,500 shares of the company’s stock, valued at approximately C$247,729.05.

Crombie Real Estate Investment Trust Company Profile

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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