National Bankshares Raises Crombie Real Estate Investment Trust (TSE:CRR.UN) Price Target to C$17.00

Crombie Real Estate Investment Trust (TSE:CRR.UN) had its price target raised by National Bankshares from C$15.25 to C$17.00 in a research note released on Wednesday, BayStreet.CA reports.

Several other brokerages have also recently weighed in on CRR.UN. TD Securities upped 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 research report on Wednesday, September 4th. Raymond James upped their price target on Crombie Real Estate Investment Trust from C$16.25 to C$16.75 in a research report on Friday, September 6th. Finally, Canaccord Genuity Group upped their price objective on shares of Crombie Real Estate Investment Trust from C$14.00 to C$15.00 and gave the stock a hold rating in a research report on Monday, September 16th. Two research 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 an average rating of Moderate Buy and a consensus price target of C$15.83.

Crombie Real Estate Investment Trust Price Performance

TSE CRR.UN opened at C$15.13 on Wednesday. The company has a market cap of C$1.63 billion, a PE ratio of -54.04 and a beta of 0.95. Crombie Real Estate Investment Trust has a 52 week low of C$11.81 and a 52 week high of C$16.22. The company has a quick ratio of 0.11, a current ratio of 0.14 and a debt-to-equity ratio of 120.87. The firm’s 50-day simple moving average is C$14.87 and its two-hundred day simple moving average is C$13.67.

Crombie Real Estate Investment Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 15th will be paid a $0.0742 dividend. This represents a $0.89 annualized dividend and a yield of 5.88%. The ex-dividend date is Friday, September 27th. Crombie Real Estate Investment Trust’s dividend payout ratio is currently -317.86%.

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.