Today, an analyst has provided a rating update for the Financial sector company, Crombie Real Estate (CRR.UN). Analyst Michael Smith from RBC Capital rated Crombie Real Estate (CRR.UN) a Hold, setting a C$14.50 price target.
According to TipRanks.com, Smith is a 4-star analyst with an average return of 8.3% and a 62.5% success rate. Smith covers the Financial sector, focusing on stocks such as Choice Properties Real Estate Investment Trust, RioCan Real Estate Investment Trust, and FirstService Corporation.
Currently, the analyst consensus on Crombie Real Estate is a Moderate Buy with an average price target of C$14.45.
Based on Crombie Real Estate’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of C$13.42 million. In comparison, last year the company had a GAAP net loss of C$6.45 million.
Crombie Real Estate Investment Trust operates as a real estate investment trust/REIT. It invests in income-producing retail, office, and commercial mixed use properties in Canada focuses primarily on the acquisition of grocery and drug store anchored retail properties. The company was founded on January 1, 2006 and is headquartered in New Glasgow, Canada.
The company’s shares closed on Monday at C$14.17.
