Choice Properties Real Est Invstmnt Trst (TSE:CHP.UN) Sets New 1-Year High on Analyst Upgrade

Choice Properties Real Est Invstmnt Trst (TSE:CHP.UN) shares hit a new 52-week high 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 changing hands. The stock had previously closed at C$15.72.

A number of other analysts also recently issued reports on the stock. Raymond James Financial lifted their price objective on shares of 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. National Bank Financial raised their price target on Choice Properties Real Est Invstmnt Trst from C$15.50 to C$16.00 and gave the company a “sector perform” rating in a research note on Friday. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Choice Properties Real Est Invstmnt Trst presently has a consensus rating of “Hold” and a consensus price target of C$16.20.

Choice Properties Real Est Invstmnt Trst Stock Performance

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 stock has a market capitalization of C$11.49 billion, a PE ratio of 14.66 and a beta of 0.78. The business’s fifty day moving average is C$15.26 and its two-hundred day moving average is C$14.94.

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.