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

Crombie Real Estate Investment Trust (TSE:CRR.UN) announced a monthly dividend on Friday, September 27th, TickerTech reports. Stockholders of record on Tuesday, October 15th will be paid a dividend of 0.0742 per share on Tuesday, October 15th. This represents a $0.89 annualized dividend and a dividend yield of 5.57%. The ex-dividend date is Friday, September 27th.

Crombie Real Estate Investment Trust Stock Up 0.6 %

Shares of CRR.UN traded up C$0.10 during mid-day trading on Thursday, hitting C$16.00. The company’s stock had a trading volume of 282,108 shares, compared to its average volume of 171,882. The company’s 50-day moving average is C$14.51 and its 200-day moving average is C$13.56. Crombie Real Estate Investment Trust has a 52-week low of C$11.68 and a 52-week high of C$16.10. The firm has a market capitalization of C$1.73 billion, a price-to-earnings ratio of -57.14 and a beta of 0.94. The company has a current ratio of 0.14, a quick ratio of 0.11 and a debt-to-equity ratio of 120.87.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CRR.UN shares. Raymond James upped their price target on shares of Crombie Real Estate Investment Trust from C$16.25 to C$16.75 in a research report on Friday, September 6th. TD Securities increased their target price on shares of 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. Finally, Canaccord Genuity Group increased their target price 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 equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Crombie Real Estate Investment Trust currently has an average rating of “Moderate Buy” and a consensus price target of C$15.53.

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.