Choice Properties REIT (CHP.UN) Increases Dividend to $0.06 Per Share

Choice Properties REIT (TSE:CHP.UN) announced a monthly dividend on Friday, April 27th, TickerTech reports. Stockholders of record on Tuesday, May 15th will be given a dividend of 0.0617 per share by the real estate investment trust on Tuesday, May 15th. This represents a $0.74 annualized dividend and a dividend yield of 6.18%. The ex-dividend date of this dividend is Friday, April 27th. This is an increase from Choice Properties REIT’s previous monthly dividend of $0.05.

Shares of CHP.UN stock traded up C$0.02 during trading hours on Friday, hitting C$11.99. The company’s stock had a trading volume of 239,415 shares, compared to its average volume of 161,936. Choice Properties REIT has a 12-month low of C$11.59 and a 12-month high of C$14.26.

Several research firms have recently commented on CHP.UN. BMO Capital Markets dropped their price objective on shares of Choice Properties REIT from C$15.00 to C$13.50 in a report on Thursday, March 15th. CIBC decreased their target price on shares of Choice Properties REIT from C$14.50 to C$14.00 in a research note on Thursday, February 15th. Royal Bank of Canada decreased their target price on shares of Choice Properties REIT from C$14.00 to C$13.50 and set a “sector perform” rating for the company in a research note on Tuesday, March 20th. Finally, National Bank Financial decreased their target price on shares of Choice Properties REIT from C$13.00 to C$12.50 and set a “sector perform” rating for the company in a research note on Wednesday, February 21st.

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About Choice Properties REIT

Choice Properties Real Estate Investment Trust (the Trust) is an unincorporated, open-ended real estate investment trust. The Trust is the owner, manager and developer of retail and other commercial properties across Canada. Its portfolio comprises over 530 properties with a total gross leasable area (GLA) of approximately 44 million square feet.

Dividend History for Choice Properties REIT (TSE:CHP.UN)

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