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Crombie REIT (TSX: CRR.UN, OTC: CROMF)

Crombie REIT is 41.5% owned by Empire Co. Ltd., the owner of Sobeys and Safeway supermarkets, and owns almost 290 grocery-anchored properties or distribution industrial space with 17.7 million sq. ft. across Canada. Major new developments include the reopening of Avalon Mall in St John’s, Newfoundland and Davie Street in Vancouver. Similar to Choice Properties, Crombie is moving into residential development with 2,027 units in Davie Street and two new developments in Montreal (Le Duke) and Oakville (Bronte village). It is developing its third customer fulfilment centre (CFC) for Empire’s Voilà ecommerce delivery rollout in Calgary following earlier rollouts in Toronto and Montreal.

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Up 39% in the last 12 months, despite its continued failure to raise its payout as noted by our last update, Crombie remains a good defensive play on consumption trends. Hold - Gavin Graham

Current Advice

Hold

Consult your broker/advisor


Capital Gain/Loss

36.7%

Recommended

July 25, 2013
Tom Slee

$13.35

tii1314


Updated

August 26, 2021

$18.24
$14.00

tii2116

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CRR.UN was first recommended here on July 25, 2013