Choice Properties Real Est Invstmnt Trst (TSE:CHP.UN) Sets New 52-Week High Following Analyst Upgrade

Shares of Choice Properties Real Est Invstmnt Trst (TSE:CHP.UN) hit a new 52-week high on Monday after Royal Bank Of Canada raised their price target on the stock from C$16.00 to C$17.00. Royal Bank Of Canada currently has a sector perform 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 trading hands. The stock had previously closed at C$15.72.

Several other equities research analysts also recently commented on CHP.UN. 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, February 20th. Raymond James Financial boosted their price objective 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. Finally, Scotiabank raised their target price on shares of 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 equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of C$16.40.

Choice Properties Real Est Invstmnt Trst Stock Performance

The company has a debt-to-equity ratio of 249.71, a quick ratio of 0.13 and a current ratio of 0.70. The company has a market cap of C$11.49 billion, a price-to-earnings ratio of 14.66 and a beta of 0.78. The firm’s 50-day moving average price is C$15.30 and its 200 day moving average price is C$14.96.

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.