Scotiabank Cuts Choice Properties Real Est Invstmnt Trst (TSE:CHP.UN) Price Target to C$17.00

Choice Properties Real Est Invstmnt Trst (TSE:CHP.UN) had its price target lowered by Scotiabank from C$17.50 to C$17.00 in a report issued on Monday,BayStreet.CA reports.

Other research analysts have also issued research reports about the company. BMO Capital Markets raised their price objective on Choice Properties Real Est Invstmnt Trst from C$16.50 to C$17.00 in a research report on Friday, July 24th. 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 report on Monday, April 20th. Finally, Royal Bank Of Canada raised Choice Properties Real Est Invstmnt Trst from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from C$17.00 to C$17.50 in a research note on Wednesday, May 27th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$16.90.

Choice Properties Real Est Invstmnt Trst Trading Down 1.1%

TSE:CHP.UN opened at C$15.94 on Monday. The firm has a market capitalization of C$11.54 billion, a P/E ratio of -219.83 and a beta of 0.67. The company has a debt-to-equity ratio of 249.71, a current ratio of 0.70 and a quick ratio of 0.13. Choice Properties Real Est Invstmnt Trst has a one year low of C$14.09 and a one year high of C$16.87. The company’s 50-day simple moving average is C$16.17 and its 200 day simple moving average is C$15.77.

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

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.