Crombie Real Estate Investment Trust (TSE:CRR.UN) Raised to “Buy” at Canaccord Genuity Group

Crombie Real Estate Investment Trust (TSE:CRR.UN – Get Rating) was upgraded by Canaccord Genuity Group from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, TipRanks reports.

Several other equities research analysts also recently issued reports on the stock. National Bankshares set a C$20.00 price objective on shares of Crombie Real Estate Investment Trust and gave the stock an “outperform” rating in a research report on Tuesday, February 1st. Royal Bank of Canada boosted their target price on shares in 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. CIBC upped their price objective on shares of Crombie Real Estate Investment Trust from C$19.00 to C$19.50 and gave the company an “outperform” rating in a report on Friday, November 12th. TD Securities set a C$19.50 target price on shares of Crombie Real Estate Investment Trust and gave the stock a “hold” rating in a research report on Monday, January 31st. Finally, BMO Capital Markets upgraded shares of Crombie Real Estate Investment Trust from a “market perform” rating to an “outperform” rating and set a C$19.50 target price on the stock in a research note on Friday, December 17th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of C$20.58.

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CRR.UN stock traded up C$0.44 during trading hours on Friday, reaching C$17.34. 183,905 shares of the stock were exchanged, compared to its average volume of 195,609. The firm’s 50-day moving average is C$17.71 and its 200-day moving average is C$17.96. Crombie Real Estate Investment Trust has a 12 month low of C$14.58 and a 12 month high of C$19.09. The company has a debt-to-equity ratio of 157.13, a current ratio of 0.32 and a quick ratio of 0.12. The company has a market cap of C$2.86 billion and a price-to-earnings ratio of 30.28.

Crombie Real Estate Investment Trust Company Profile (Get Rating)

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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