Short Interest in Crombie Real Estate Investment Trust (OTCMKTS:CROMF) Expands By 37.2%

Crombie Real Estate Investment Trust (OTCMKTS:CROMF – Get Rating) was the target of a significant growth in short interest in June. As of June 15th, there was short interest totalling 250,800 shares, a growth of 37.2% from the May 31st total of 182,800 shares. Based on an average daily trading volume, of 700 shares, the days-to-cover ratio is currently 358.3 days.

A number of brokerages have issued reports on CROMF. Desjardins decreased their price target on Crombie Real Estate Investment Trust from C$20.00 to C$19.50 in a report on Tuesday, May 17th. Scotiabank dropped their target price on Crombie Real Estate Investment Trust from C$20.25 to C$19.75 in a research report on Friday, May 13th. Canaccord Genuity Group dropped their target price on Crombie Real Estate Investment Trust from C$19.25 to C$18.50 and set a “hold” rating on the stock in a research report on Monday, May 16th. Finally, TD Securities lowered their price target on Crombie Real Estate Investment Trust from C$20.00 to C$19.50 in a report on Friday, May 13th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $19.45.

OTCMKTS CROMF opened at $12.50 on Friday. Crombie Real Estate Investment Trust has a 12 month low of $11.83 and a 12 month high of $15.05. The company’s 50 day simple moving average is $13.04 and its 200 day simple moving average is $13.75.

Crombie Real Estate Investment Trust Company Profile (Get Rating)

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 pharmacy-anchored shopping centres, freestanding stores and mixed-use developments primarily in Canada’s top urban and suburban markets.

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