Choice Properties Real Est Invstmnt Trst (TSE:CHP.UN) Shares Pass Below Two Hundred Day Moving Average - Here's Why

Key Points

• Choice Properties shares fell below their 200-day moving average, reaching C$15.30 before last trading at C$15.61 on volume of 926,006 shares.
• Analyst views remain generally positive: the REIT has a “Moderate Buy” consensus rating and a consensus price target of C$16.90, with recent target changes ranging from C$16.50 to C$17.50.
• In its latest quarter, Choice Properties reported revenue of C$362.63 million and EPS of negative C$0.24. The REIT primarily owns Canadian retail and commercial properties, with Loblaw Companies contributing the vast majority of rental income.

Choice Properties Real Est Invstmnt Trst (TSE:CHP.UN - Get Free Report) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$15.78 and traded as low as C$15.30. Choice Properties Real Est Invstmnt Trst shares last traded at C$15.61, with a volume of 926,006 shares changing hands.

Analyst Ratings Changes

A number of analysts recently commented on the stock. National Bank Financial lifted their target price on shares of 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. Scotiabank cut their price target on shares of Choice Properties Real Est Invstmnt Trst from C$17.50 to C$17.00 in a research note on Monday, July 27th. BMO Capital Markets raised their price target on shares of Choice Properties Real Est Invstmnt Trst from C$16.50 to C$17.00 in a report on Friday, July 24th. Finally, Royal Bank Of Canada upgraded shares of Choice Properties Real Est Invstmnt Trst from a "sector perform" rating to an "outperform" rating and lifted their price objective for the stock from C$17.00 to C$17.50 in a research note on Wednesday, May 27th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of C$16.90.

Choice Properties Real Est Invstmnt Trst Trading Up 1.4%

The company has a 50 day simple moving average of C$16.17 and a two-hundred day simple moving average of C$15.78. The company has a debt-to-equity ratio of 249.71, a quick ratio of 0.13 and a current ratio of 0.70. The firm has a market cap of C$11.30 billion, a PE ratio of -151.43 and a beta of 0.66.

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