Choice Properties Real Est Invstmnt Trst (TSE:CHP.UN) Hits New 12-Month High on Analyst Upgrade

Choice Properties Real Est Invstmnt Trst (TSE:CHP.UN)’s stock price reached a new 52-week high during trading on Monday after Scotiabank raised their price target on the stock from C$16.00 to C$16.50. Scotiabank currently has an outperform rating on the stock. Choice Properties Real Est Invstmnt Trst traded as high as C$15.89 and last traded at C$15.87, with a volume of 100036 shares traded. The stock had previously closed at C$15.72.

CHP.UN has been the subject of several other reports. National Bank Financial lifted their target price on shares of Choice Properties Real Est Invstmnt Trst from C$15.50 to C$16.00 and gave the company a “sector perform” rating in a report on Friday. Raymond James Financial upped 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. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of C$16.20.

Choice Properties Real Est Invstmnt Trst Trading Up 1.0%

The stock has a market cap of C$11.49 billion, a P/E ratio of 14.66 and a beta of 0.78. The stock has a 50-day moving average price of C$15.26 and a 200-day moving average price of C$14.94. The company has a debt-to-equity ratio of 249.71, a quick ratio of 0.13 and a current ratio of 0.70.

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.