Choice Properties Real Est Invstmnt Trst (TSE:CHP.UN) Price Target Cut to C$17.00 by Analysts at Scotiabank

Choice Properties Real Est Invstmnt Trst (TSE:CHP.UN) had its price target lowered by Scotiabank from C$17.50 to C$17.00 in a research note issued to investors on Monday,BayStreet.CA reports.

CHP.UN has been the subject of several other research reports. Royal Bank Of Canada upgraded shares of Choice Properties Real Est Invstmnt Trst from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from C$17.00 to C$17.50 in a research note on Wednesday, May 27th. National Bank Financial raised their price target 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 report on Monday, April 20th. Finally, BMO Capital Markets lifted 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. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company 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

Shares of CHP.UN opened at C$16.09 on Monday. Choice Properties Real Est Invstmnt Trst has a 52 week low of C$14.09 and a 52 week high of C$16.87. 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 firm has a market cap of C$11.65 billion, a price-to-earnings ratio of -221.89 and a beta of 0.67. The stock has a 50 day moving average of C$16.14 and a 200-day moving average of C$15.75.

Choice Properties Real Est Invstmnt Trst (TSE:CHP.UN) last posted its quarterly earnings results 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 net margin of 44.96% and a return on equity of 13.73%. The firm had revenue of C$362.63 million for the quarter.

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.