A Wall Street analyst has provided a rating update for the Financial sector company on March 5, while remaining neutral on the stock. Desjardins’ analyst Michael Markidis reiterates their Hold rating on the shares of Crombie Real Estate (CRR.UN), with a C$14.50 price target.
According to TipRanks.com, Markidis is a 5-star analyst with an average return of 11.9% and a 84.6% success rate. Markidis covers the Financial sector, focusing on stocks such as Dream Office Real Estate Investment Trust, Artis Real Estate Investment Trust, and Summit Industrial Income REIT.
Currently, the analyst consensus on Crombie Real Estate is a Moderate Buy with an average price target of C$14.65, which is a 3.3% upside from current levels. In a report issued on March 4, RBC Capital also maintained a Hold rating on the stock with a C$14.50 price target.
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Crombie Real Estate’s market cap is currently C$2.15B and has a P/E ratio of 0. The company has a Price to Book ratio of 1.49.
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 Wednesday at C$14.18, close to its 52-week high of C$14.30.
