Choice Properties Real Est Invstmnt Trst (TSE:CHP.UN) Raised to Outperform at Royal Bank Of Canada

Choice Properties Real Est Invstmnt Trst (TSE:CHP.UN) was upgraded by research analysts at Royal Bank Of Canada from a “sector perform” rating to an “outperform” rating in a research note issued to investors on Wednesday,BayStreet.CA reports. The brokerage presently has a C$17.50 price target on the real estate investment trust’s stock, up from their previous price target of C$17.00. Royal Bank Of Canada’s price target would indicate a potential upside of 10.34% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. Raymond James Financial raised their target price 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 research note on Friday, February 20th. National Bank Financial raised their target price on shares of Choice Properties Real Est Invstmnt Trst from C$16.00 to C$16.50 and gave the company a “sector perform” rating in a research note on Monday, April 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 company an “outperform” rating in a research note on Friday, February 20th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of C$16.60.

Choice Properties Real Est Invstmnt Trst Trading Up 1.3%

TSE:CHP.UN traded up C$0.21 during trading hours on Wednesday, reaching C$15.86. 455,897 shares of the company were exchanged, compared to its average volume of 481,059. The company has a debt-to-equity ratio of 249.71, a current ratio of 0.70 and a quick ratio of 0.13. The firm has a market cap of C$11.48 billion, a price-to-earnings ratio of -218.72 and a beta of 0.75. Choice Properties Real Est Invstmnt Trst has a 52-week low of C$14.09 and a 52-week high of C$16.51. The stock has a 50 day simple moving average of C$15.51 and a 200 day simple moving average of C$15.33.

Choice Properties Real Est Invstmnt Trst (TSE:CHP.UN) last posted its quarterly earnings results on Wednesday, April 29th. The real estate investment trust reported C($0.27) earnings per share for the quarter. The company had revenue of C$362.36 million for the quarter. Choice Properties Real Est Invstmnt Trst had a return on equity of 13.73% and a net margin of 44.96%.

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.