Scotiabank Trims Crombie Real Estate Investment Trust (TSE:CRR.UN) Target Price to C$19.75

Crombie Real Estate Investment Trust (TSE:CRR.UN – Get Rating) had its target price lowered by Scotiabank from C$20.25 to C$19.75 in a research note issued to investors on Friday, BayStreet.CA reports.

Other equities research analysts have also issued research reports about the company. Canaccord Genuity Group raised Crombie Real Estate Investment Trust from a hold rating to a buy rating in a research report on Friday, February 25th. National Bankshares set a C$20.00 price target on Crombie Real Estate Investment Trust and gave the company an outperform rating in a research report on Tuesday, February 1st. Finally, TD Securities raised Crombie Real Estate Investment Trust from a hold rating to a buy rating and increased their price target for the company from C$19.50 to C$20.00 in a research report on Monday, February 28th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Buy and a consensus price target of C$19.38.

CRR.UN opened at C$16.76 on Friday. The company has a current ratio of 0.15, a quick ratio of 0.06 and a debt-to-equity ratio of 141.11. The firm has a market cap of C$2.95 billion and a price-to-earnings ratio of 17.49. The stock’s 50-day moving average price is C$17.93 and its 200 day moving average price is C$17.88. Crombie Real Estate Investment Trust has a 12-month low of C$16.08 and a 12-month high of C$19.09.

The firm also recently disclosed a monthly dividend, which was paid on Friday, May 13th. Stockholders of record on Friday, May 13th were issued a $0.0742 dividend. The ex-dividend date of this dividend was Thursday, April 28th. This represents a $0.89 dividend on an annualized basis and a dividend yield of 5.31%. Crombie Real Estate Investment Trust’s payout ratio is currently 92.91%.

In related news, Director Donald Everett Clow sold 14,921 shares of the firm’s stock in a transaction that occurred on Wednesday, March 30th. The stock was sold at an average price of C$18.40, for a total transaction of C$274,576.24. Following the transaction, the director now owns 65,093 shares in the company, valued at approximately C$1,197,841.39.

About Crombie Real Estate Investment Trust (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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