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

Key Points

• Choice Properties’ shares fell below their 200-day moving average, trading as low as C$15.36 and last changing hands at C$15.44, compared with the 200-day average of C$15.78.
• Analyst sentiment remains generally positive: RBC upgraded the REIT to “outperform,” while BMO raised its target to C$17.00; Scotiabank lowered its target to C$17.00. The consensus rating is “Moderate Buy,” with an average price target of C$16.90.
• In its latest quarter, Choice Properties reported a loss of C$0.24 per share and revenue of C$362.63 million. The REIT primarily owns Canadian retail and commercial properties, with Loblaw contributing the majority of rental income.

Choice Properties Real Est Invstmnt Trst (TSE:CHP.UN - Get Free Report) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$15.78 and traded as low as C$15.36. Choice Properties Real Est Invstmnt Trst shares last traded at C$15.44, with a volume of 978,623 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CHP.UN shares. Royal Bank Of Canada raised shares of Choice Properties Real Est Invstmnt Trst from a "sector perform" rating to an "outperform" rating and upped their price objective for the company from C$17.00 to C$17.50 in a report on Wednesday, May 27th. BMO Capital Markets raised their target price on Choice Properties Real Est Invstmnt Trst from C$16.50 to C$17.00 in a research note on Friday, July 24th. Finally, Scotiabank dropped their price target on shares of Choice Properties Real Est Invstmnt Trst from C$17.50 to C$17.00 in a research report on Monday, July 27th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, Choice Properties Real Est Invstmnt Trst presently has an average rating of "Moderate Buy" and an average price target of C$16.90.

Choice Properties Real Est Invstmnt Trst Price Performance

The company has a market capitalization of C$11.18 billion, a PE ratio of -149.78 and a beta of 0.66. 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 fifty day simple moving average of C$16.02 and a 200-day simple moving average of C$15.78.

Choice Properties Real Est Invstmnt Trst (TSE:CHP.UN - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The real estate investment trust reported C($0.24) EPS for the quarter. The business had revenue of C$362.63 million during 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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