Royal Bank Of Canada Forecasts Strong Price Appreciation for Choice Properties Real Est Invstmnt Trst (TSE:CHP.UN) Stock

Choice Properties Real Est Invstmnt Trst (TSE:CHP.UN) had its price target lifted by investment analysts at Royal Bank Of Canada from C$16.00 to C$17.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the real estate investment trust’s stock. Royal Bank Of Canada’s price objective indicates a potential upside of 7.19% from the company’s previous close.

A number of other research analysts have also commented on CHP.UN. Raymond James Financial upped their price target on Choice Properties Real Est Invstmnt Trst from C$16.25 to C$16.50 and gave the company a “market perform” rating in a research report on Friday. National Bank Financial upped their target price 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 report on Friday. Finally, Scotiabank increased their price objective 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. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Choice Properties Real Est Invstmnt Trst has an average rating of “Hold” and an average price target of C$16.40.

Choice Properties Real Est Invstmnt Trst Trading Down 0.6%

Shares of CHP.UN stock traded down C$0.09 during mid-day trading on Tuesday, reaching C$15.86. The stock had a trading volume of 123,482 shares, compared to its average volume of 359,100. The stock’s 50-day moving average price is C$15.28 and its two-hundred day moving average price is C$14.95. Choice Properties Real Est Invstmnt Trst has a 52-week low of C$13.39 and a 52-week high of C$16.00. The firm has a market capitalization of C$11.48 billion, a PE ratio of 14.64 and a beta of 0.78. The company has a current ratio of 0.70, a quick ratio of 0.13 and a debt-to-equity ratio of 249.71.

Choice Properties Real Est Invstmnt Trst Company Profile

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.