Crombie Real Estate Investment Trust (TSE:CRR.UN) Receives Consensus Rating of “Buy” from Brokerages

Crombie Real Estate Investment Trust (TSE:CRR.UN) has received an average rating of “buy” from the nine rating agencies that currently cover the company, reports MarketBeat.com. Three investment analysts have rated the stock with a hold recommendation and four with a buy recommendation for the company. The average 1-year target price among brokers who have issued a report on the stock in the last year is CAD$19.31.

Several research companies have recently commented on CRR.UN. The Royal Bank of Canada has raised its price target for shares in Crombie Real Estate Investment Trust to CAD19.50 from CAD19.00 and gave the company a sector perform rating in a report on Thursday, November 18th. BMO Capital Markets raised shares of Crombie Real Estate Investment Trust from a market perform rating to an outperform rating and issued a research note on Friday, December 17th with a price target of $19.50 for the share fixed. TD Securities raised its target price on shares of Crombie Real Estate Investment Trust from $19.00 to $19.50 and rated the stock as “hold” in a research note on Friday, November 12. National Bankshares raised its price target on shares of Crombie Real Estate Investment Trust to $20.00 from $19.50 and rated the stock as “Outperform” in a research note on Friday, November 12. Finally, Scotiabank raised its price target on Crombie Real Estate Investment Trust shares to $20.00 from $19.50 in a research report on Wednesday, October 20.

Shares of TSE CRR.UN opened at CAD$18.00 on Friday. Crombie Real Estate Investment Trust has a 1 year low of $14.15 and a 1 year high of $19.09. The company’s 50-day moving average price is $18.03 and its 200-day moving average price is $18.11. The company has a market cap of CA$2.96 billion and a P/E of 31.52. The company has a debt to equity ratio of 157.13, a quick ratio of 0.12 and a current ratio of 0.32.

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The company also recently announced a monthly dividend, which will be paid on Tuesday, February 15th. Stockholders of record on Tuesday, February 15 will receive a dividend of $0.0742 per share. The ex-dividend date of this dividend is Friday January 28th. That equates to a dividend of $0.89 on an annualized basis and a dividend yield of 4.95%. Crombie Real Estate Investment Trust’s dividend payout ratio is currently 155.87%.

In other news from Crombie Real Estate Investment Trust, Director John Michael Arthur Knowlton sold 25,000 shares of the company in a transaction that took place on Tuesday November 16th. The shares sold at an average price of $18.35 for a total value of $458,757.50. Following the transaction, the Director now owns 13,500 shares of the Company valued at approximately $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 incorporated and governed by the laws of the Province of Ontario. Crombie is one of the nation’s leading retail property lessors with a strategy to own, operate and develop a portfolio of quality grocery and drugstore anchored malls, freestanding shops and mixed-use developments primarily in Canada’s major urban and suburban markets.

See also: balance sheet

Analyst Recommendations for Crombie Real Estate Investment Trust (TSE:CRR.UN)

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