Choice Properties Real Estate Investment Trust (OTCMKTS:PPRQF) Stock Jumps 2.7% – Still a Buy?

Choice Properties Real Estate Investment Trust (OTCMKTS:PPRQF) shares shot up 2.7% during mid-day trading on Thursday. The company traded as high as $10.63 and last traded at $10.63. Approximately 72,074 shares changed hands during trading, an increase of 32% from the average session volume of 54,428 shares. The stock had previously closed at $10.35.

Wall Street Analysts Forecast Growth

Separately, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Choice Properties Real Estate Investment Trust in a report on Friday, July 24th. Four analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, Choice Properties Real Estate Investment Trust presently has an average rating of “Buy”.

Choice Properties Real Estate Investment Trust Stock Up 2.7%

The business’s 50 day moving average price is $10.87 and its two-hundred day moving average price is $11.25.

Choice Properties Real Estate Investment Trust Company Profile

Choice Properties Real Estate Investment Trust is a Canadian real estate investment trust that owns, develops and manages a portfolio of commercial and residential properties. Its real estate activities are focused primarily on retail properties, including grocery-anchored shopping centres, as well as industrial, office and mixed-use assets.

The trust’s properties are located across Canada and are designed to serve everyday consumer, business and community needs. Choice Properties has a significant relationship with Loblaw Companies Limited, Canada’s largest food and drug retailer, whose stores serve as important anchors in many of the trust’s retail properties.

Choice Properties was established in 2013 when Loblaw contributed a substantial portfolio of real estate assets to the newly formed trust.