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

Crombie Real Estate Investment Trust (TSE:CRR.UN) declared a monthly dividend on Monday, April 29th, TickerTech reports. Shareholders 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 yield of 6.89%. The ex-dividend date of this dividend is Monday, April 29th.

Crombie Real Estate Investment Trust Stock Performance

Shares of TSE CRR.UN opened at C$12.92 on Friday. The company has a quick ratio of 0.11, a current ratio of 0.15 and a debt-to-equity ratio of 119.86. The firm’s 50-day moving average price is C$13.63 and its two-hundred day moving average price is C$13.44. Crombie Real Estate Investment Trust has a 52-week low of C$11.68 and a 52-week high of C$15.69. The stock has a market capitalization of C$1.38 billion, a P/E ratio of -39.15 and a beta of 0.91.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CRR.UN. TD Securities cut their target price on shares of Crombie Real Estate Investment Trust from C$16.00 to C$15.00 in a report on Wednesday. Desjardins lifted their price target on Crombie Real Estate Investment Trust from C$15.00 to C$16.00 and gave the company a “buy” rating in a report on Friday, February 23rd. National Bankshares cut their price target on Crombie Real Estate Investment Trust from C$15.00 to C$14.25 and set an “outperform” rating on the stock in a report on Wednesday. Raymond James set a C$16.00 price target on Crombie Real Estate Investment Trust and gave the company an “outperform” rating in a report on Thursday, March 28th. Finally, Scotiabank cut their price target on Crombie Real Estate Investment Trust from C$16.75 to C$16.00 and set an “outperform” rating on the stock in a report on Friday, February 23rd. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$15.42.

Insider Activity at Crombie Real Estate Investment Trust

In related news, Director Michael Harold Vels acquired 6,500 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were acquired at an average price of C$13.85 per share, for a total transaction of C$90,025.00. Company insiders own 0.14% of the company’s stock.

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.