Crombie Real Estate Investment Trust (TSE:CRR.UN) Given Average Recommendation of “Moderate Buy” by Brokerages

Crombie Real Estate Investment Trust (TSE:CRR.UN) has earned an average recommendation of “Moderate Buy” from the nine brokerages that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is C$15.28.

A number of analysts have weighed in on CRR.UN shares. Scotiabank cut their price target on Crombie Real Estate Investment Trust from C$16.00 to C$15.75 and set an “outperform” rating on the stock in a research note on Monday, May 13th. TD Securities dropped their price objective on Crombie Real Estate Investment Trust from C$16.00 to C$15.00 in a report on Wednesday, April 24th. CIBC dropped their price objective on Crombie Real Estate Investment Trust from C$17.00 to C$16.00 in a report on Friday, May 10th. Finally, National Bankshares dropped their price objective on Crombie Real Estate Investment Trust from C$15.00 to C$14.25 and set an “outperform” rating on the stock in a report on Wednesday, April 24th.

Insiders Place Their Bets

In related news, Director Mark Holly acquired 5,000 shares of the stock in a transaction dated Thursday, May 16th. The stock was bought at an average cost of C$13.03 per share, with a total value of C$65,150.00. 1.16% of the stock is owned by corporate insiders.

Crombie Real Estate Investment Trust Stock Up 0.4 %

TSE:CRR.UN opened at C$13.86 on Friday. The company has a quick ratio of 0.11, a current ratio of 0.15 and a debt-to-equity ratio of 120.18. The stock’s fifty day moving average is C$12.87 and its two-hundred day moving average is C$13.31. Crombie Real Estate Investment Trust has a 52 week low of C$11.68 and a 52 week high of C$14.50. The stock has a market capitalization of C$1.49 billion, a price-to-earnings ratio of -42.00 and a beta of 0.92.

Crombie Real Estate Investment Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 15th will be paid a $0.0742 dividend. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $0.89 annualized dividend and a yield of 6.42%. Crombie Real Estate Investment Trust’s payout ratio is currently -269.70%.

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.