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

Crombie Real Estate Investment Trust (TSE:CRR.UN) announced a monthly dividend on Thursday, October 31st, TickerTech reports. Stockholders 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 dividend yield of 5.82%. The ex-dividend date of this dividend is Thursday, October 31st.

Crombie Real Estate Investment Trust Price Performance

TSE:CRR.UN opened at C$15.30 on Tuesday. Crombie Real Estate Investment Trust has a 52 week low of C$11.91 and a 52 week high of C$16.22. The company has a debt-to-equity ratio of 120.87, a quick ratio of 0.11 and a current ratio of 0.14. The firm’s 50-day simple moving average is C$15.19 and its 200 day simple moving average is C$13.78. The firm has a market cap of C$1.65 billion, a price-to-earnings ratio of -54.64 and a beta of 0.95.

Analyst Upgrades and Downgrades

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