BMO Capital Markets 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 boosted by BMO Capital Markets from C$16.50 to C$17.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. BMO Capital Markets’ price target would suggest a potential upside of 6.72% from the stock’s current price.

Other research analysts have also issued research reports about the company. Royal Bank Of Canada raised Choice Properties Real Est Invstmnt Trst from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from C$17.00 to C$17.50 in a report on Wednesday, May 27th. 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. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$16.80.

Choice Properties Real Est Invstmnt Trst Stock Up 1.0%

Shares of TSE:CHP.UN opened at C$15.93 on Friday. The firm has a 50 day simple moving average of C$16.12 and a 200 day simple moving average of C$15.74. Choice Properties Real Est Invstmnt Trst has a 52 week low of C$14.09 and a 52 week high of C$16.87. 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$11.53 billion, a PE ratio of -219.69 and a beta of 0.67.

Choice Properties Real Est Invstmnt Trst (TSE:CHP.UN) last posted its quarterly 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.