Crombie Real Estate Investment Trust Reaches New 52-Week High of C$15.97

Crombie Real Estate Investment Trust (TSE:CRR.UN) has achieved a significant milestone by reaching a new 52-week high during mid-day trading on Friday, with shares climbing to C$15.97 before settling at C$15.90. The trading volume for the day was recorded at 34,895 shares, following a previous close of C$15.84.

Recent evaluations from various research analysts indicate a positive outlook for Crombie. Raymond James has raised its price target for the trust from C$16.25 to C$16.75 as of September 6th. Similarly, Canaccord Genuity Group has adjusted its price target from C$14.00 to C$15.00, maintaining a "hold" rating. Additionally, TD Securities has increased their price objective from C$15.00 to C$16.00, assigning a "buy" rating in their report dated September 4th. Currently, two analysts have rated the stock as a hold, while seven have issued buy ratings, leading to a consensus rating of "Moderate Buy" and an average target price of C$15.53, according to MarketBeat.

Crombie's financial metrics reveal a fifty-day simple moving average of C$14.36 and a 200-day simple moving average of C$13.53. The firm boasts a market capitalization of C$1.72 billion, a PE ratio of -56.79, and a beta of 0.94. Its debt-to-equity ratio stands at 120.87, with a current ratio of 0.14 and a quick ratio of 0.11.

In addition to its stock performance, Crombie recently declared a monthly dividend, which was paid on August 15th. Shareholders of record on that date received a dividend of $0.0742, translating to an annualized dividend of $0.89 and a dividend yield of 5.60%. The ex-dividend date was July 31st, and the current dividend payout ratio is notably high at -317.86%.

Crombie Real Estate Investment Trust, established under the laws of Ontario, is a prominent player in the retail property sector, focusing on owning, operating, and developing high-quality grocery and drug store-anchored shopping centers, freestanding stores, and mixed-use developments in key urban and suburban markets across Canada.

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