Choice Properties Real Est Invstmnt Trst (TSE:CHP.UN) Reaches New 12-Month High Following Analyst Upgrade

Shares of Choice Properties Real Est Invstmnt Trst (TSE:CHP.UN) reached a new 52-week high on Monday after Scotiabank raised their price target on the stock from C$16.00 to C$16.50. Scotiabank currently has an outperform rating on the stock. Choice Properties Real Est Invstmnt Trst traded as high as C$15.89 and last traded at C$15.87, with a volume of 100036 shares trading hands. The stock had previously closed at C$15.72.

A number of other brokerages have also commented on CHP.UN. Raymond James Financial lifted their price objective on 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. National Bank Financial lifted their price target 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. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of C$16.20.

Choice Properties Real Est Invstmnt Trst Price Performance

The business has a 50-day moving average price of C$15.28 and a two-hundred day moving average price of C$14.95. The company has a quick ratio of 0.13, a current ratio of 0.70 and a debt-to-equity ratio of 249.71. The company has a market capitalization of C$11.54 billion, a price-to-earnings ratio of 14.72 and a beta of 0.78.

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.