Choice Properties Real Est Invstmnt Trst (TSE:CHP.UN) Given New C$17.00 Price Target at BMO Capital Markets

Key Points

• BMO Capital Markets raised its price target on Choice Properties Real Estate Investment Trust to C$17.00 from C$16.50, implying about 6.8% upside from the current share price.
• Other analysts have also turned more positive: RBC upgraded the stock to outperform and lifted its target to C$17.50, while National Bank Financial increased its target to C$16.50. The overall consensus rating is now Moderate Buy.
• The REIT recently reported C($0.24) EPS on C$362.63 million in revenue for the quarter. Shares closed at C$15.92, below the 52-week high of C$16.87 but above the 52-week low of C$14.09.

Choice Properties Real Est Invstmnt Trst (TSE:CHP.UN - Get Free Report) had its price target hoisted by research analysts at BMO Capital Markets from C$16.50 to C$17.00 in a report released on Friday,BayStreet.CA reports. BMO Capital Markets' price target would suggest a potential upside of 6.78% from the company's current price.

Other equities analysts have also recently issued research reports about the stock. Royal Bank Of Canada upgraded shares of Choice Properties Real Est Invstmnt Trst from a "sector perform" rating to an "outperform" rating and increased their price objective for the stock from C$17.00 to C$17.50 in a research note on Wednesday, May 27th. National Bank Financial boosted their target price on shares of Choice Properties Real Est Invstmnt Trst from C$16.00 to C$16.50 and gave the company a "sector perform" rating in a research report on Monday, April 20th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of C$16.80.

Choice Properties Real Est Invstmnt Trst Stock Performance

CHP.UN stock traded up C$0.14 during trading on Friday, reaching C$15.92. The stock had a trading volume of 327,173 shares, compared to its average volume of 545,851. Choice Properties Real Est Invstmnt Trst has a 52 week low of C$14.09 and a 52 week high of C$16.87. The stock's 50 day moving average is C$16.11 and its two-hundred day moving average is C$15.74. The company has a current ratio of 0.70, a quick ratio of 0.13 and a debt-to-equity ratio of 249.71. The firm has a market cap of C$11.52 billion, a PE ratio of -219.55 and a beta of 0.67.

Choice Properties Real Est Invstmnt Trst (TSE:CHP.UN - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The real estate investment trust reported C($0.24) earnings per share (EPS) for the quarter. The firm had revenue of C$362.63 million during the quarter. Choice Properties Real Est Invstmnt Trst had a return on equity of 13.73% and a net margin of 44.96%.

About Choice Properties Real Est Invstmnt Trst

Choice Properties Real Estate Investment Trust invests in, manages, and develops retail and commercial properties across Canada. The company's portfolio primarily consists of shopping centers anchored by supermarkets and stand-alone supermarkets. The properties are mostly located in Ontario and Quebec, followed by Alberta, Nova Scotia, British Columbia, and New Brunswick. Choice Properties generate the majority of revenue from leasing properties to its tenants. The company's principal tenant, the large-format retailer Loblaw Companies, contributes the vast majority of the total rent.

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