CT Real Estate Investment Trust (TSE:CRT.UN) Announces Earnings Results

CT Real Estate Investment Trust (TSE:CRT.UN) announced its earnings results on Monday. The real estate investment trust reported C$0.39 earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of C$161.32 million for the quarter. CT Real Estate Investment Trust had a return on equity of 6.46% and a net margin of 20.63%.

CT Real Estate Investment Trust Stock Performance

Shares of CRT.UN opened at C$18.45 on Wednesday. The company has a quick ratio of 0.10, a current ratio of 0.11 and a debt-to-equity ratio of 75.45. The business has a 50-day simple moving average of C$17.24 and a two-hundred day simple moving average of C$17.48. The stock has a market cap of C$4.41 billion, a price-to-earnings ratio of 9.62, a PEG ratio of 0.76 and a beta of 0.89. CT Real Estate Investment Trust has a 52 week low of C$15.70 and a 52 week high of C$18.95.

CT Real Estate Investment Trust Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, November 16th will be issued a dividend of $0.0818 per share. This represents a $0.98 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend is Friday, October 30th. CT Real Estate Investment Trust’s payout ratio is currently 49.59%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CRT.UN shares. Raymond James Financial raised shares of CT Real Estate Investment Trust from a “market perform” rating to an “outperform” rating and set a C$19.25 price target for the company in a research report on Friday, October 2nd. National Bank Financial raised shares of CT Real Estate Investment Trust from a “sector perform” rating to an “outperform” rating and set a C$18.75 price objective on the stock in a report on Wednesday, October 21st. Finally, Royal Bank Of Canada raised their price objective on shares of CT Real Estate Investment Trust from C$18.50 to C$19.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 19th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, CT Real Estate Investment Trust currently has an average rating of “Hold” and a consensus price target of C$18.75.

About CT Real Estate Investment Trust

CT REIT is an unincorporated, closed-end real estate investment trust formed to own income-producing commercial properties located primarily in Canada. Its portfolio is comprised of 380 properties totalling 32 million square feet of GLA, consisting primarily of net lease single-tenant retail properties located across Canada. Canadian Tire Corporation, Limited is CT REIT’s most significant tenant.