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

Crombie Real Estate Investment Trust (TSE:CRR.UN) declared a monthly dividend on Thursday, October 31st, TickerTech reports. Investors of record on Friday, November 15th will be given a dividend of 0.0742 per share on Friday, November 15th. This represents a $0.89 dividend on an annualized basis and a yield of 5.85%. The ex-dividend date of this dividend is Thursday, October 31st.

Crombie Real Estate Investment Trust Trading Down 0.5 %

CRR.UN stock traded down C$0.07 during midday trading on Tuesday, hitting C$15.23. 9,398 shares of the company’s stock were exchanged, compared to its average volume of 172,392. Crombie Real Estate Investment Trust has a 1-year low of C$11.91 and a 1-year high of C$16.22. The business has a 50-day simple moving average of C$15.19 and a two-hundred day simple moving average of C$13.78. The stock has a market capitalization of C$1.64 billion, a PE ratio of -54.64 and a beta of 0.95. 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

A number of brokerages recently issued reports on CRR.UN. Raymond James raised their price objective on Crombie Real Estate Investment Trust from C$16.25 to C$16.75 in a research report on Friday, September 6th. National Bankshares upped their price objective on shares of Crombie Real Estate Investment Trust from C$15.25 to C$17.00 in a report on Wednesday, October 9th. BMO Capital Markets upped their price objective on shares of Crombie Real Estate Investment Trust from C$15.00 to C$16.00 in a report on Monday. TD Securities boosted their target price 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. Finally, Canaccord Genuity Group raised their price target on 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$15.94.

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.