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

Crombie Real Estate Investment Trust (TSE:CRR.UN) declared a monthly dividend on Wednesday, July 31st, TickerTech reports. Shareholders of record on Thursday, August 15th will be given a dividend of 0.0742 per share on Thursday, August 15th. This represents a $0.89 dividend on an annualized basis and a dividend yield of 6.45%. The ex-dividend date is Wednesday, July 31st.

Crombie Real Estate Investment Trust Price Performance

Crombie Real Estate Investment Trust stock opened at C$13.81 on Tuesday. The stock has a market capitalization of C$1.48 billion, a price-to-earnings ratio of -41.85 and a beta of 0.92. 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’s 50 day moving average price is C$12.89 and its two-hundred day moving average price is C$13.30. The company has a debt-to-equity ratio of 120.18, a quick ratio of 0.11 and a current ratio of 0.15.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CRR.UN shares. National Bankshares lowered their price target on Crombie Real Estate Investment Trust from C$15.00 to C$14.25 and set an “outperform” rating for the company in a research report on Wednesday, April 24th. Scotiabank lowered their price target on Crombie Real Estate Investment Trust from C$16.00 to C$15.75 and set an “outperform” rating for the company in a research report on Monday, May 13th. CIBC lowered their price target on Crombie Real Estate Investment Trust from C$17.00 to C$16.00 in a research report on Friday, May 10th. Finally, TD Securities decreased their target price on Crombie Real Estate Investment Trust from C$16.00 to C$15.00 in a research report on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Crombie Real Estate Investment Trust has an average rating of “Moderate Buy” and an average price target of C$15.28.

Insiders Place Their Bets

In other news, Director Mark Holly purchased 5,000 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were bought at an average cost of C$13.03 per share, for a total transaction of C$65,150.00. 1.16% of the stock is owned by company insiders.

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.