Crombie Real Estate Investment Trust (TSE:CRR.UN) Upgraded by Raymond James to “Strong-Buy” Rating

Crombie Real Estate Investment Trust (TSE:CRR.UN) was upgraded by equities research analysts at Raymond James from an “outperform” rating to a “strong-buy” rating in a research note issued to investors on Monday,BayStreet.CA reports. The firm presently has a C$16.75 price objective on the stock, down from their prior price objective of C$17.25. Raymond James’ target price points to a potential upside of 27.67% from the company’s previous close.

A number of other equities analysts have also recently weighed in on the stock. Canaccord Genuity Group upped their price target on shares of Crombie Real Estate Investment Trust from C$14.00 to C$15.00 and gave the stock a “hold” rating in a research note on Monday, September 16th. National Bankshares increased their price objective on shares of Crombie Real Estate Investment Trust from C$15.25 to C$17.00 in a research note on Wednesday, October 9th. 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, October 28th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of C$16.06.

Crombie Real Estate Investment Trust Price Performance

Shares of TSE:CRR.UN traded down C$0.05 on Monday, reaching C$13.12. 69,294 shares of the company were exchanged, compared to its average volume of 158,796. The company has a current ratio of 0.14, a quick ratio of 0.11 and a debt-to-equity ratio of 120.87. Crombie Real Estate Investment Trust has a 1-year low of C$12.25 and a 1-year high of C$16.22. The firm has a market cap of C$1.42 billion, a price-to-earnings ratio of -46.86 and a beta of 0.95. The company has a 50-day moving average of C$14.01 and a 200-day moving average of C$14.21.

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.