Choice Properties Real Est Invstmnt Trst (TSE:CHP.UN) Reaches New 1-Year High – Still a Buy?

Choice Properties Real Est Invstmnt Trst (TSE:CHP.UN) hit a new 52-week high on Tuesday . The company traded as high as C$16.87 and last traded at C$15.68, with a volume of 1239190 shares traded. The stock had previously closed at C$15.75.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. 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 note on Wednesday, May 27th. Raymond James Financial upped their price target on Choice Properties Real Est Invstmnt Trst from C$16.25 to C$16.50 and gave the company a “market perform” rating in a report on Friday, February 20th. Scotiabank increased their price objective on Choice Properties Real Est Invstmnt Trst from C$16.00 to C$16.50 and gave the company an “outperform” rating in a research report on Friday, February 20th. Finally, National Bank Financial boosted their target price on 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of C$16.60.

Choice Properties Real Est Invstmnt Trst Stock Down 0.4%

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 cap of C$11.35 billion, a P/E ratio of -216.24 and a beta of 0.75. The company has a fifty day moving average of C$15.52 and a 200 day moving average of C$15.35.

Choice Properties Real Est Invstmnt Trst (TSE:CHP.UN) last posted its earnings results on Wednesday, April 29th. The real estate investment trust reported C($0.27) earnings per share for the quarter. The firm had revenue of C$362.36 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.