Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Price Target Raised to C$81.00

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) had its target price raised by stock analysts at National Bank Financial from C$79.00 to C$81.00 in a note issued to investors on Thursday,BayStreet.CA reports. The firm currently has an “outperform” rating on the real estate investment trust’s stock. National Bank Financial’s price objective points to a potential upside of 21.29% from the stock’s previous close.

Several other research analysts have also recently commented on the stock. TD reduced their target price on shares of Boardwalk Real Estate Investment Trust from C$85.00 to C$82.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Raymond James Financial cut shares of Boardwalk Real Estate Investment Trust from a “strong-buy” rating to an “outperform” rating and decreased their target price for the company from C$82.00 to C$80.00 in a research note on Friday, May 8th. Royal Bank Of Canada upped their target price on shares of Boardwalk Real Estate Investment Trust from C$81.00 to C$84.00 and gave the company an “outperform” rating in a report on Thursday. Desjardins cut their price objective on Boardwalk Real Estate Investment Trust from C$78.00 to C$77.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Finally, Scotia cut their price target on Boardwalk Real Estate Investment Trust from C$75.50 to C$74.50 and set a “sector perform” rating for the company in a report on Thursday, May 7th. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Boardwalk Real Estate Investment Trust currently has a consensus rating of “Moderate Buy” and a consensus price target of C$79.75.

Boardwalk Real Estate Investment Trust Stock Down 0.5%

BEI.UN stock traded down C$0.32 during trading hours on Thursday, reaching C$66.78. 124,431 shares of the stock were exchanged, compared to its average volume of 129,824. The company has a market cap of C$3.47 billion, a price-to-earnings ratio of 73.38, a PEG ratio of 1.24 and a beta of 0.53. The firm’s 50-day moving average is C$65.18 and its 200-day moving average is C$65.78. Boardwalk Real Estate Investment Trust has a 12 month low of C$60.75 and a 12 month high of C$73.96. The company has a debt-to-equity ratio of 77.35, a current ratio of 0.23 and a quick ratio of 0.04.

About Boardwalk Real Estate Investment Trust

Boardwalk Real Estate Investment Trust, or Boardwalk REIT, is a real estate investment trust engaged in the acquisition, development, and management of residential multifamily communities throughout Canada. Although the company’s cumulative residential property portfolio includes holdings in the provinces of Alberta, Saskatchewan, Ontario, and Quebec, the majority of its total units are located in Alberta. The submarkets around the cities of Calgary and Edmonton, specifically, account for the majority of Boardwalk REIT’s total residential suites.