Choice Properties Real Est Invstmnt Trst (TSE:CHP.UN) Releases Quarterly Earnings Results

Choice Properties Real Est Invstmnt Trst (TSE:CHP.UN) issued its quarterly earnings results on Wednesday. The real estate investment trust reported C($0.27) earnings per share (EPS) for the quarter, FiscalAI reports. Choice Properties Real Est Invstmnt Trst had a net margin of 44.96% and a return on equity of 13.73%. The firm had revenue of C$362.36 million for the quarter.

Choice Properties Real Est Invstmnt Trst Stock Down 0.5%

Shares of Choice Properties Real Est Invstmnt Trst stock traded down C$0.07 during midday trading on Wednesday, hitting C$15.12. The company’s stock had a trading volume of 725,177 shares, compared to its average volume of 451,589. The firm has a market capitalization of C$10.94 billion, a P/E ratio of -177.88 and a beta of 0.70. The stock has a 50-day simple moving average of C$15.64 and a 200-day simple moving average of C$15.25. The company has a quick ratio of 0.13, a current ratio of 0.70 and a debt-to-equity ratio of 249.71. Choice Properties Real Est Invstmnt Trst has a 1-year low of C$14.09 and a 1-year high of C$16.51.

Wall Street Analysts Forecast Growth

CHP.UN has been the topic of a number of recent research reports. Raymond James Financial lifted their target price on Choice Properties Real Est Invstmnt Trst from C$16.25 to C$16.50 and gave the stock a “market perform” rating in a report on Friday, February 20th. Royal Bank Of Canada lifted their target price on Choice Properties Real Est Invstmnt Trst from C$16.00 to C$17.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 24th. National Bank Financial lifted 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 report on Monday, April 20th. Finally, Scotiabank lifted their target price on Choice Properties Real Est Invstmnt Trst from C$16.00 to C$16.50 and gave the stock an “outperform” rating in a report on Friday, February 20th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of C$16.50.

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.