Crombie Real Estate Investment Trust (TSE:CRR.UN) Stock Passes Above 200 Day Moving Average – Here’s Why

Crombie Real Estate Investment Trust (TSE:CRR.UN) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$14.36 and traded as high as C$14.52. Crombie Real Estate Investment Trust shares last traded at C$14.49, with a volume of 131,600 shares changing hands.

Wall Street Analyst Weigh In

Separately, Raymond James upgraded Crombie Real Estate Investment Trust from an “outperform” rating to a “strong-buy” rating and reduced their target price for the stock from C$17.25 to C$16.75 in a report on Monday, January 13th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Crombie Real Estate Investment Trust currently has an average rating of “Buy” and an average price target of C$16.07.

Crombie Real Estate Investment Trust Trading Up 0.8 %

The company has a market capitalization of C$1.56 billion, a price-to-earnings ratio of -51.75 and a beta of 0.95. The business has a fifty day moving average price of C$13.63 and a 200 day moving average price of C$14.36. The company has a debt-to-equity ratio of 120.87, a current ratio of 0.14 and a quick ratio of 0.11.

Crombie Real Estate Investment Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, March 14th will be paid a $0.0742 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.89 dividend on an annualized basis and a dividend yield of 6.14%. Crombie Real Estate Investment Trust’s payout ratio is -317.86%.

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.