Chartwell Retirement Residences (TSE:CSH.UN) Shares Cross Above Two Hundred Day Moving Average on Analyst Downgrade

Key Points

• Chartwell Retirement Residences shares crossed above their 200-day moving average following a price target increase from Scotiabank from C$20.00 to C$22.00, with shares last trading at C$18.38.
• Multiple analysts have given mixed reviews, with T.D. Securities lowering their target price to C$21.00, while Royal Bank of Canada and Desjardins raised theirs to C$21.00 and C$22.00 respectively.
• The company announced a monthly dividend of $0.051, representing a 3.3% dividend yield, despite a negative payout ratio of -358.82%.

Chartwell Retirement Residences (TSE:CSH.UN - Get Free Report) passed above its 200-day moving average during trading on Monday after Scotiabank raised their price target on the stock from C$20.00 to C$22.00. The stock has a 200-day moving average of C$17.31 and traded as high as C$18.55. Chartwell Retirement Residences shares last traded at C$18.38, with a volume of 337,643 shares trading hands.

Several other research firms have also weighed in on CSH.UN. TD Securities cut their target price on shares of Chartwell Retirement Residences from C$22.00 to C$21.00 and set a "buy" rating on the stock in a report on Monday. Royal Bank Of Canada increased their target price on shares of Chartwell Retirement Residences from C$20.00 to C$21.00 and gave the stock an "outperform" rating in a report on Monday. Desjardins increased their target price on shares of Chartwell Retirement Residences from C$21.00 to C$22.00 and gave the stock a "buy" rating in a report on Monday. Finally, BMO Capital Markets increased their target price on shares of Chartwell Retirement Residences from C$19.00 to C$21.00 in a report on Monday, May 12th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of C$20.44.

Chartwell Retirement Residences Trading Down 0.1%

The firm has a market capitalization of C$4.99 billion, a P/E ratio of -108.12 and a beta of 1.12. The company has a quick ratio of 0.07, a current ratio of 0.43 and a debt-to-equity ratio of 192.20. The firm's 50-day simple moving average is C$18.09 and its 200-day simple moving average is C$17.31.

Chartwell Retirement Residences Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 15th will be issued a $0.051 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Thursday, July 31st. Chartwell Retirement Residences's payout ratio is presently -358.82%.

Chartwell Retirement Residences Company Profile

Chartwell Retirement Residences is an unincorporated open-ended trust. The company is engaged in the ownership, operation, and management of retirement and long-term care communities in Canada. It operates its retirement and long-term care facilities separately. The Retirement Operations segment consists of communities that the company owns and operates in Canada.

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