Choice Properties Real Est Invstmnt Trst (TSE:CHP.UN) Price Target Cut to C$17.00 by Analysts at Scotiabank

Key Points

• Scotiabank lowered Choice Properties REIT’s price target to C$17.00 from C$17.50, implying approximately 5.99% upside from the prior close.
• Analyst sentiment remains positive overall, with a consensus rating of “Moderate Buy” and an average target price of C$16.90; RBC upgraded the stock to “outperform,” while BMO and National Bank also raised their targets.
• Shares traded at C$16.04, near their 52-week high, while the REIT reported quarterly revenue of C$362.63 million and EPS of negative C$0.24. Its portfolio is primarily Canadian supermarket-anchored properties, with Loblaw contributing most of its rental income.

Choice Properties Real Est Invstmnt Trst (TSE:CHP.UN - Get Free Report) had its target price dropped by equities researchers at Scotiabank from C$17.50 to C$17.00 in a note issued to investors on Monday,BayStreet.CA reports. Scotiabank's target price indicates a potential upside of 5.99% from the stock's previous close.

Other research analysts have also recently issued reports about the stock. BMO Capital Markets raised their target price on shares of Choice Properties Real Est Invstmnt Trst from C$16.50 to C$17.00 in a report on Friday. National Bank Financial raised their price objective on Choice Properties Real Est Invstmnt Trst from C$16.00 to C$16.50 and gave the stock a "sector perform" rating in a research note on Monday, April 20th. Finally, Royal Bank Of Canada upgraded Choice Properties Real Est Invstmnt Trst from a "sector perform" rating to an "outperform" rating and upped their target price for the company from C$17.00 to C$17.50 in a research report on Wednesday, May 27th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of C$16.90.

Choice Properties Real Est Invstmnt Trst Stock Performance

Shares of CHP.UN traded up C$0.11 during midday trading on Monday, reaching C$16.04. 241,724 shares of the stock were exchanged, compared to its average volume of 545,672. The stock's 50 day simple moving average is C$16.12 and its 200 day simple moving average is C$15.74. The company has a market cap of C$11.61 billion, a P/E ratio of -221.20 and a beta of 0.67. Choice Properties Real Est Invstmnt Trst has a twelve month low of C$14.09 and a twelve month high of C$16.87. The company has a quick ratio of 0.13, a current ratio of 0.70 and a debt-to-equity ratio of 249.71.

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

Choice Properties Real Est Invstmnt Trst Company Profile

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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