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

Key Points

• Choice Properties’ stock fell below its 200-day moving average, trading as low as C$15.74 versus the C$15.78 average, before last trading at C$15.92.
• Analyst sentiment remains moderately positive: the stock has a consensus “Moderate Buy” rating and a C$16.90 target price, with recent targets ranging from C$16.50 to C$17.50.
• The REIT reported quarterly revenue of C$362.63 million and earnings of negative C$0.24 per share; its portfolio is primarily supermarket-anchored properties, with Loblaw contributing most of its rental income.

Choice Properties Real Est Invstmnt Trst (TSE:CHP.UN - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$15.78 and traded as low as C$15.74. Choice Properties Real Est Invstmnt Trst shares last traded at C$15.92, with a volume of 919,513 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CHP.UN. 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, July 24th. Scotiabank dropped their price target on Choice Properties Real Est Invstmnt Trst from C$17.50 to C$17.00 in a research report on Monday, July 27th. National Bank Financial raised their price target 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 report 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 boosted their price objective for the company from C$17.00 to C$17.50 in a research report on Wednesday, May 27th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, Choice Properties Real Est Invstmnt Trst currently has a consensus rating of "Moderate Buy" and a consensus target price of C$16.90.

Choice Properties Real Est Invstmnt Trst Trading Down 0.3%

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 cap of C$11.52 billion, a P/E ratio of -154.44 and a beta of 0.66. The firm's 50-day simple moving average is C$16.19 and its 200 day simple moving average is C$15.78.

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) earnings per share for the quarter. The business had revenue of C$362.63 million for the quarter. Choice Properties Real Est Invstmnt Trst had a net margin of 44.96% and a return on equity of 13.73%.

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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