Choice Properties Real Est Invstmnt Trst (TSE:CHP.UN) Raised to Outperform at Royal Bank Of Canada

Choice Properties Real Est Invstmnt Trst (TSE:CHP.UN) was upgraded by Royal Bank Of Canada from a “sector perform” rating to an “outperform” rating in a report issued on Wednesday,BayStreet.CA reports. The brokerage presently has a C$17.50 price objective on the real estate investment trust’s stock, up from their previous price objective of C$17.00. Royal Bank Of Canada’s price target would suggest a potential upside of 10.34% from the company’s previous close.

A number of other analysts have also issued reports on the stock. Raymond James Financial raised their target price 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. Scotiabank raised their target price on shares of Choice Properties Real Est Invstmnt Trst from C$16.00 to C$16.50 and gave the stock an “outperform” rating in a research report on Friday, February 20th. Finally, National Bank Financial raised their target price 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. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of C$16.60.

Choice Properties Real Est Invstmnt Trst Trading Up 1.3%

TSE CHP.UN traded up C$0.21 during mid-day trading on Wednesday, reaching C$15.86. 455,897 shares of the stock were exchanged, compared to its average volume of 481,059. Choice Properties Real Est Invstmnt Trst has a 1-year low of C$14.09 and a 1-year high of C$16.51. The business’s fifty day simple moving average is C$15.51 and its 200 day simple moving average is C$15.33. The stock has a market capitalization of C$11.48 billion, a PE ratio of -218.72 and a beta of 0.75. 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) last announced its earnings results on Wednesday, April 29th. The real estate investment trust reported C($0.27) earnings per share (EPS) for the quarter. Choice Properties Real Est Invstmnt Trst had a return on equity of 13.73% and a net margin of 44.96%.The firm had revenue of C$362.36 million for the quarter.

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.