Crombie Real Estate Investment Trust (TSE:CRR.UN) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Crombie Real Estate Investment Trust (TSE:CRR.UN) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$13.84 and traded as high as C$15.07. Crombie Real Estate Investment Trust shares last traded at C$15.00, with a volume of 272,188 shares traded.

Analysts Set New Price Targets

Several research firms have issued reports on CRR.UN. BMO Capital Markets lifted their price target on shares of Crombie Real Estate Investment Trust from C$15.00 to C$16.00 in a report on Monday, October 28th. National Bankshares boosted their target price on Crombie Real Estate Investment Trust from C$15.25 to C$17.00 in a research note on Wednesday, October 9th. TD Securities raised their price target 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 Wednesday, September 4th. Raymond James upped their price objective on shares of Crombie Real Estate Investment Trust from C$16.25 to C$16.75 in a report on Friday, September 6th. Finally, Canaccord Genuity Group increased their price objective on shares of Crombie Real Estate Investment Trust from C$14.00 to C$15.00 and gave the company a “hold” rating in a research report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$15.94.

Crombie Real Estate Investment Trust Stock Performance

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 stock has a market capitalization of C$1.62 billion, a PE ratio of -53.57 and a beta of 0.95. The firm has a 50 day moving average price of C$15.30 and a 200-day moving average price of C$13.84.

Crombie Real Estate Investment Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.0742 per share. This represents a $0.89 annualized dividend and a yield of 5.94%. The ex-dividend date is Thursday, October 31st. Crombie Real Estate Investment Trust’s payout ratio is -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.