22 December 2024

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

Crombie Real Estate Investment Trust (TSE:CRR.UN) has reached a new 52-week high of C$15.97, reflecting positive analyst ratings and financial metrics.

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.

Before making any investment decisions regarding Crombie Real Estate Investment Trust, it's essential to consider insights from top analysts. MarketBeat tracks leading research analysts and their stock recommendations, identifying five stocks that are currently favored by experts over Crombie. For those interested in exploring these alternatives, further information is available.

Source: MarketBeat