Scotiabank Issues Pessimistic Forecast for Choice Properties Real Est Invstmnt Trst (TSE:CHP.UN) Stock Price

Choice Properties Real Est Invstmnt Trst (TSE:CHP.UN) had its target price reduced by analysts at Scotiabank from C$17.50 to C$17.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. Scotiabank’s price objective indicates a potential upside of 5.99% from the stock’s current price.

A number of other brokerages have also recently commented on CHP.UN. National Bank Financial increased their price target on Choice Properties Real Est Invstmnt Trst from C$16.00 to C$16.50 and gave the company a “sector perform” rating in a research note on Monday, April 20th. BMO Capital Markets upped their target price on Choice Properties Real Est Invstmnt Trst from C$16.50 to C$17.00 in a report on Friday. Finally, Royal Bank Of Canada upgraded Choice Properties Real Est Invstmnt Trst from a “sector perform” rating to an “outperform” rating and increased their target price for the company from C$17.00 to C$17.50 in a research report on Wednesday, May 27th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus 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 traded up C$0.11 during mid-day trading on Monday, reaching C$16.04. The company had a trading volume of 241,724 shares, compared to its average volume of 545,672. The company’s 50 day simple moving average is C$16.12 and its 200 day simple moving average is C$15.74. Choice Properties Real Est Invstmnt Trst has a 1-year low of C$14.09 and a 1-year high of C$16.87. The company has a debt-to-equity ratio of 249.71, a quick ratio of 0.13 and a current ratio of 0.70. The company has a market capitalization of C$11.61 billion, a price-to-earnings ratio of -221.20 and a beta of 0.67.

Choice Properties Real Est Invstmnt Trst (TSE:CHP.UN) last released its quarterly earnings data on Wednesday, July 22nd. The real estate investment trust reported C($0.24) earnings per share (EPS) for the quarter. The company had revenue of C$362.63 million for the quarter. Choice Properties Real Est Invstmnt Trst had a return on equity of 13.73% and a net margin of 44.96%.

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.