Choice Properties Real Est Invstmnt Trst (TSE:CHP.UN) Stock Price Crosses Above 50-Day Moving Average - Here's Why

Key Points

• Choice Properties crossed above its 50-day moving average, trading as high as C$15.89 and last at C$15.73 versus a 50-day MA of C$15.58.
• Several analysts lifted price targets (RBC to C$17.00, Raymond James to C$16.50, etc.), leaving a consensus rating of "Hold" and an average price target of C$16.40.
• Financials are mixed: the REIT reported C($0.07) EPS on C$355.66M revenue, but it has a very high debt-to-equity ratio of 249.71 and heavy tenant concentration with Loblaw.

Choice Properties Real Est Invstmnt Trst (TSE:CHP.UN - Get Free Report) crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$15.58 and traded as high as C$15.89. Choice Properties Real Est Invstmnt Trst shares last traded at C$15.73, with a volume of 138,282 shares.

Analyst Ratings Changes

Several research firms have weighed in on CHP.UN. National Bank Financial lifted their price objective on shares of Choice Properties Real Est Invstmnt Trst from C$15.50 to C$16.00 and gave the stock a "sector perform" rating in a research report on Friday, February 20th. Raymond James Financial lifted their price objective on shares of Choice Properties Real Est Invstmnt Trst from C$16.25 to C$16.50 and gave the stock a "market perform" rating in a research report on Friday, February 20th. Royal Bank Of Canada increased their target price on shares of 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, Scotiabank lifted their target price on shares of Choice Properties Real Est Invstmnt Trst from C$16.00 to C$16.50 and gave the company an "outperform" rating in a research note on Friday, February 20th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of C$16.40.

Choice Properties Real Est Invstmnt Trst Stock Down 0.5%

The business's 50 day simple moving average is C$15.58 and its 200-day simple moving average is C$15.14. The company has a market cap of C$11.39 billion, a price-to-earnings ratio of -185.06 and a beta of 0.70. The company has a debt-to-equity ratio of 249.71, a quick ratio of 0.13 and a current ratio of 0.70.

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

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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