Choice Properties Real Est Invstmnt Trst (TSE:CHP.UN) Sets New 12-Month High - Time to Buy?

Key Points

• 52-week high: Choice Properties hit a new 52-week high of C$16.08 (last C$16.05) and recent analyst revisions lifted price targets to an average of C$16.40, with one Buy and four Hold ratings overall.
• Weak earnings and high leverage: The trust reported quarterly EPS of C($0.07) and a negative P/E of -189.76, while carrying substantial leverage (debt-to-equity 249.71) and a market cap of C$11.68 billion.
• Tenant concentration: The portfolio is focused on Canadian retail properties and is heavily dependent on Loblaw Companies, which provides the vast majority of rental income.

Choice Properties Real Est Invstmnt Trst (TSE:CHP.UN - Get Free Report) shares hit a new 52-week high on Tuesday . The company traded as high as C$16.08 and last traded at C$16.05, with a volume of 13441 shares changing hands. The stock had previously closed at C$16.02.

Analysts Set New Price Targets

A number of brokerages recently commented on CHP.UN. Scotiabank boosted their target price on shares of Choice Properties Real Est Invstmnt Trst from C$16.00 to C$16.50 and gave the stock an "outperform" rating in a research note on Friday, February 20th. Raymond James Financial raised their price target on Choice Properties Real Est Invstmnt Trst from C$16.25 to C$16.50 and gave the company a "market perform" rating in a research note on Friday, February 20th. Royal Bank Of Canada upped their price objective on Choice Properties Real Est Invstmnt Trst from C$16.00 to C$17.00 and gave the stock a "sector perform" rating in a research report on Tuesday, February 24th. Finally, National Bank Financial increased their price objective on Choice Properties Real Est Invstmnt Trst from C$15.50 to C$16.00 and gave the company a "sector perform" rating in a report on Friday, February 20th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Choice Properties Real Est Invstmnt Trst has an average rating of "Hold" and an average price target of C$16.40.

Choice Properties Real Est Invstmnt Trst Price Performance

The company's 50 day moving average is C$15.63 and its 200 day moving average is C$15.18. 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$11.68 billion, a price-to-earnings ratio of -189.76 and a beta of 0.70.

Choice Properties Real Est Invstmnt Trst (TSE:CHP.UN - Get Free Report) last released its quarterly earnings data on Wednesday, February 18th. The real estate investment trust reported C($0.07) earnings per share (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 company had revenue of C$355.66 million during the quarter.

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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