Choice Properties Real Estate Investment Trust

TSX:CHP.UN Stock Report

Mkt Cap: CA$11.2b

We’ve recently updated our valuation analysis.

Choice Properties Real Estate Investment Trust Valuation

Is CHP.UN undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for CHP.UN?

Other financial metrics that can be useful for relative valuation.

CHP.UN key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue12.3x
Enterprise Value/EBITDA17.9x
PEG Ration/a

Price to Earnings Ratio vs Peers

How does CHP.UN's PE Ratio compare to its peers?

The above table shows the PE ratio for CHP.UN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average15.2x
REI.UN RioCan Real Estate Investment Trust
15.3x7.0%CA$6.9b
SRU.UN SmartCentres Real Estate Investment Trust
4.2xn/aCA$4.9b
CRT.UN CT Real Estate Investment Trust
22.5xn/aCA$3.8b
CRR.UN Crombie Real Estate Investment Trust
18.8xn/aCA$3.0b
CHP.UN Choice Properties Real Estate Investment Trust
4.4xn/aCA$11.2b

Price-To-Earnings vs Peers: CHP.UN is good value based on its Price-To-Earnings Ratio (4.4x) compared to the peer average (15.2x).


Price to Earnings Ratio vs Industry

How does CHP.UN's PE Ratio compare vs other companies in the CA REITs Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a-8.5%
n/an/an/a

Price-To-Earnings vs Industry: CHP.UN is good value based on its Price-To-Earnings Ratio (4.4x) compared to the Canadian REITs industry average (5.4x)


Price to Earnings Ratio vs Fair Ratio

What is CHP.UN's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

CHP.UN PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio4.4x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate CHP.UN's Price-To-Earnings Fair Ratio for valuation analysis.


Share Price vs Fair Value

What is the Fair Price of CHP.UN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: CHP.UN (CA$15.47) is trading above our estimate of fair value (CA$13.91)

Significantly Below Fair Value: CHP.UN is trading above our estimate of fair value.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst CHP.UN forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCA$15.47
CA$15.47
-0.008%
4.9%CA$16.50CA$14.50n/a8
Jan ’24CA$14.76
CA$15.39
+4.3%
4.9%CA$16.50CA$14.50n/a9
Dec ’23CA$14.70
CA$15.28
+3.9%
4.2%CA$16.50CA$14.50n/a9
Nov ’23CA$13.13
CA$14.72
+12.1%
3.9%CA$15.50CA$13.50n/a8
Oct ’23CA$12.59
CA$14.94
+18.6%
3.1%CA$15.50CA$14.00n/a8
Sep ’23CA$13.45
CA$14.94
+11.1%
3.1%CA$15.50CA$14.00n/a8
Aug ’23CA$14.27
CA$15.00
+5.1%
3.3%CA$15.50CA$14.00n/a8
Jul ’23CA$14.05
CA$16.06
+14.3%
2.4%CA$16.50CA$15.50n/a8
Jun ’23CA$15.01
CA$16.31
+8.7%
1.5%CA$16.50CA$16.00n/a8
May ’23CA$15.18
CA$16.25
+7.0%
1.5%CA$16.50CA$16.00n/a8
Apr ’23CA$15.56
CA$16.13
+3.6%
2.6%CA$16.50CA$15.50n/a8
Mar ’23CA$14.62
CA$16.03
+9.7%
2.5%CA$16.50CA$15.50n/a8
Feb ’23CA$14.53
CA$16.00
+10.1%
2.7%CA$16.50CA$15.50n/a8
Jan ’23CA$15.19
CA$15.94
+4.9%
2.4%CA$16.50CA$15.50CA$14.768
Dec ’22CA$14.11
CA$15.94
+13.0%
2.4%CA$16.50CA$15.50CA$14.708
Nov ’22CA$14.89
CA$15.44
+3.7%
1.8%CA$16.00CA$15.00CA$13.138
Oct ’22CA$14.38
CA$15.44
+7.4%
1.8%CA$16.00CA$15.00CA$12.598
Sep ’22CA$15.11
CA$15.44
+2.2%
1.8%CA$16.00CA$15.00CA$13.458
Aug ’22CA$14.70
CA$15.44
+5.0%
1.8%CA$16.00CA$15.00CA$14.278
Jul ’22CA$14.29
CA$14.78
+3.4%
3.1%CA$15.50CA$14.25CA$14.058
Jun ’22CA$14.51
CA$14.66
+1.0%
2.5%CA$15.50CA$14.25CA$15.018
May ’22CA$13.94
CA$14.41
+3.3%
4.1%CA$15.50CA$13.50CA$15.188
Apr ’22CA$13.64
CA$13.88
+1.7%
2.4%CA$14.50CA$13.50CA$15.568
Mar ’22CA$12.83
CA$13.81
+7.7%
2.5%CA$14.50CA$13.50CA$14.628
Feb ’22CA$13.12
CA$13.69
+4.3%
2.5%CA$14.50CA$13.50CA$14.538
Jan ’22CA$13.01
CA$13.69
+5.2%
2.5%CA$14.50CA$13.50CA$15.198

Analyst Forecast: Target price is lower than the current share price.


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