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

Crombie Real Estate Investment Trust (TSE:CRR.UN) announced a monthly dividend on Friday, January 28, TickerTech reports. Shareholders of record on Tuesday February 15 will receive a dividend of 0.0742 per share on Tuesday February 15. This represents a dividend of $0.89 on an annualized basis and a yield of 5.16%. The ex-dividend date is Friday, January 28.

Shares of CRR.UN opened at C$17.26 on Wednesday. Crombie Real Estate Investment Trust has a 52 week low of C$14.15 and a 52 week high of C$19.09. The company has a debt ratio of 157.13, a quick ratio of 0.12 and a current ratio of 0.32. The company has a market capitalization of C$2.84 billion and a PE ratio of 30.23. The stock has a fifty-day simple moving average of C$17.96 and a two-hundred-day simple moving average of C$18.10.

Several brokerages have recently published reports on CRR.UN. CIBC raised its price target on Crombie Real Estate Investment Trust from C$19.00 to C$19.50 and gave the stock an “outperform” rating in a report released on Friday, November 12. Scotiabank raised its price target on Crombie Real Estate Investment Trust from C$19.50 to C$20.00 in a Wednesday, October 20 report. BMO Capital Markets upgraded Crombie Real Estate Investment Trust from a “market performance” rating to an “outperform” rating and set a price target of C$19.50 for the stock in a report from the Friday, December 17. Royal Bank of Canada raised its price target on Crombie Real Estate Investment Trust from C$19.00 to C$19.50 and gave the company an ‘sector performance’ rating in a report on Thursday. November 18. Finally, National Bankshares raised its price target on Crombie Real Estate Investment Trust from C$19.50 to C$20.00 and gave the company an “outperform” rating in a report released on Friday, November 12. Three analysts have rated the stock with a hold rating and four have issued a buy rating for the company’s stock. According to MarketBeat data, Crombie Real Estate Investment Trust has a consensus buy rating and an average target price of C$19.31.

Separately, director John Michael Arthur Knowlton sold 25,000 shares in a trade on Tuesday, November 16. The stock was sold at an average price of CA$18.35, for a total transaction of CA$458,757.50. As a result of the transaction, the administrator now owns 13,500 shares of the company, valued at approximately C$247,729.05.

Crombie Real Estate Investment Trust Company Profile

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 nation’s leading commercial property owners and has a strategy to own, operate and grow a portfolio of shopping centers anchored by high-quality grocery and pharmacy, stand-alone stores and developments in mixed use primarily in major urban and suburban markets across Canada.

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