Crombie Real Estate Investment Trust (TSE:CRR.UN) Stock Price Crosses Below 200-Day Moving Average – Here’s What Happened

Shares of Crombie Real Estate Investment Trust (TSE:CRR.UN) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$14.35 and traded as low as C$14.03. Crombie Real Estate Investment Trust shares last traded at C$14.25, with a volume of 306,530 shares.

Analyst Ratings Changes

Separately, Raymond James raised shares of Crombie Real Estate Investment Trust from an “outperform” rating to a “strong-buy” rating and lowered 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 issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of C$16.07.

Crombie Real Estate Investment Trust Stock Performance

The stock has a market capitalization of C$1.54 billion, a P/E ratio of -50.89 and a beta of 0.95. The stock has a 50 day simple moving average of C$13.94 and a two-hundred day simple moving average of C$14.35. The company has a quick ratio of 0.11, a current ratio of 0.14 and a debt-to-equity ratio of 120.87.

Crombie Real Estate Investment Trust Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, March 14th were issued a dividend of $0.0742 per share. This represents a $0.89 dividend on an annualized basis and a dividend yield of 6.25%. The ex-dividend date of this dividend was Friday, February 28th. Crombie Real Estate Investment Trust’s dividend payout ratio is currently -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.