Crombie Real Estate Investment Trust (TSE:CRR.UN) Given Consensus Rating of “Buy” by Analysts

Crombie Real Estate Investment Trust (TSE:CRR.UN) has been given a consensus recommendation of “Buy” by the six brokerages that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is C$16.06.

CRR.UN has been the topic of several research analyst reports. BMO Capital Markets upped their target price on shares of Crombie Real Estate Investment Trust from C$15.00 to C$16.00 in a research note on Monday, October 28th. Raymond James upgraded shares of Crombie Real Estate Investment Trust from an “outperform” rating to a “strong-buy” rating and dropped their target price for the stock from C$17.25 to C$16.75 in a report on Monday, January 13th.

Crombie Real Estate Investment Trust Stock Performance

Shares of CRR.UN stock opened at C$13.85 on Wednesday. The company has a market capitalization of C$1.49 billion, a price-to-earnings ratio of -49.46 and a beta of 0.95. The company has a debt-to-equity ratio of 120.87, a quick ratio of 0.11 and a current ratio of 0.14. Crombie Real Estate Investment Trust has a one year low of C$12.25 and a one year high of C$16.22. The company’s 50-day moving average is C$13.57 and its 200 day moving average is C$14.31.

Crombie Real Estate Investment Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.0742 per share. This represents a $0.89 annualized dividend and a yield of 6.43%. The ex-dividend date is Friday, January 31st. Crombie Real Estate Investment Trust’s dividend payout ratio is presently -317.86%.

About Crombie Real Estate Investment Trust

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.