Choice Properties Real Est Invstmnt Trst (TSE:CHP.UN) Reaches New 12-Month High - Still a Buy?

Key Points

• Choice Properties Real Estate Investment Trust (TSE:CHP.UN) reached a new 12-month high at C$15.38 amidst trading, showing a notable increase in investor interest.
• Despite the positive market performance, Desjardins downgraded the stock from a "buy" to a "hold" with a price target of C$16.00, while Royal Bank of Canada increased its price target to C$16.00.
• The company's current market capitalization stands at C$11.12 billion with an average analyst rating of "Moderate Buy" and a PE ratio of -91.52.

Choice Properties Real Est Invstmnt Trst (TSE:CHP.UN - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$15.38 and last traded at C$15.38, with a volume of 143472 shares trading hands. The stock had previously closed at C$15.20.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Desjardins downgraded shares of Choice Properties Real Est Invstmnt Trst from a "buy" rating to a "hold" rating and set a C$16.00 price target for the company. in a research report on Monday, July 21st. Royal Bank Of Canada lifted their price target on shares of Choice Properties Real Est Invstmnt Trst from C$15.00 to C$16.00 and gave the company a "sector perform" rating in a research report on Monday, July 21st. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of C$16.00.

Choice Properties Real Est Invstmnt Trst Stock Up 1.1%

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 stock has a market capitalization of C$11.12 billion, a PE ratio of -91.52 and a beta of 0.80. The stock's fifty day simple moving average is C$14.58 and its 200-day simple moving average is C$14.47.

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.

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