Crombie Real Estate Investment Trust to Issue Monthly Dividend of $0.07 (TSE:CRR.UN)

Crombie Real Estate Investment Trust (TSE:CRR.UN) declared a monthly dividend on Monday, April 29th, TickerTech reports. Stockholders of record on Wednesday, May 15th will be paid a dividend of 0.0742 per share on Wednesday, May 15th. This represents a $0.89 dividend on an annualized basis and a dividend yield of 6.89%. The ex-dividend date of this dividend is Monday, April 29th.

Crombie Real Estate Investment Trust Stock Up 0.7 %

CRR.UN stock traded up C$0.09 during trading on Friday, reaching C$12.92. 97,269 shares of the stock were exchanged, compared to its average volume of 166,332. The firm’s 50 day moving average is C$13.63 and its 200 day moving average is C$13.44. Crombie Real Estate Investment Trust has a twelve month low of C$11.68 and a twelve month high of C$15.69. The company has a current ratio of 0.15, a quick ratio of 0.11 and a debt-to-equity ratio of 119.86. The firm has a market cap of C$1.38 billion, a P/E ratio of -39.15 and a beta of 0.91.

Analysts Set New Price Targets

A number of research firms recently weighed in on CRR.UN. Raymond James set a C$16.00 price target on Crombie Real Estate Investment Trust and gave the stock an “outperform” rating in a research note on Thursday, March 28th. BMO Capital Markets upped their price target on Crombie Real Estate Investment Trust from C$14.50 to C$15.00 in a research note on Monday, February 26th. TD Securities decreased their price objective on Crombie Real Estate Investment Trust from C$16.00 to C$15.00 in a report on Wednesday. Scotiabank decreased their price objective on Crombie Real Estate Investment Trust from C$16.75 to C$16.00 and set an “outperform” rating for the company in a report on Friday, February 23rd. Finally, Desjardins boosted their price objective on Crombie Real Estate Investment Trust from C$15.00 to C$16.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$15.42.

Insider Activity

In other Crombie Real Estate Investment Trust news, Director Michael Harold Vels bought 6,500 shares of Crombie Real Estate Investment Trust stock in a transaction dated Friday, March 1st. The stock was bought at an average cost of C$13.85 per share, with a total value of C$90,025.00. 0.14% of the stock is currently owned by corporate insiders.

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.