Boardwalk REIT (TSE:BEI.UN) had its price objective raised by TD Securities from C$54.00 to C$56.00 in a research note issued to investors on Monday morning, BayStreet.CA reports. They currently have a buy rating on the real estate investment trust’s stock.
Several other research analysts have also recently weighed in on BEI.UN. BMO Capital Markets boosted their target price on Boardwalk REIT from C$48.00 to C$49.25 in a report on Monday, August 19th. Desjardins lifted their price target on shares of Boardwalk REIT from C$47.00 to C$48.00 and gave the company a hold rating in a research report on Thursday, August 22nd. Royal Bank of Canada lifted their price target on shares of Boardwalk REIT from C$51.00 to C$54.00 and gave the company an outperform rating in a research report on Monday. Canaccord Genuity lifted their price target on shares of Boardwalk REIT from C$46.00 to C$49.00 in a research report on Monday. Finally, National Bank Financial lifted their price target on shares of Boardwalk REIT from C$46.50 to C$48.50 and gave the company a sector perform rating in a research report on Wednesday, October 16th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of Hold and an average price target of C$50.28.
Shares of Boardwalk REIT stock traded down C$0.48 on Monday, hitting C$47.52. 172,343 shares of the company were exchanged, compared to its average volume of 119,513. The stock has a market capitalization of $2.21 billion and a price-to-earnings ratio of 21.57. The company has a 50-day moving average price of C$44.99 and a 200 day moving average price of C$42.65. Boardwalk REIT has a 1-year low of C$36.47 and a 1-year high of C$48.31. The company has a quick ratio of 0.04, a current ratio of 0.10 and a debt-to-equity ratio of 90.13.
In other Boardwalk REIT news, Senior Officer Helen May Mix sold 916 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of C$44.40, for a total value of C$40,670.40. Following the completion of the transaction, the insider now owns 4,430 shares in the company, valued at C$196,692. Also, Senior Officer Roberto Geremia sold 2,000 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of C$44.13, for a total transaction of C$88,260.00. Following the completion of the transaction, the insider now owns 130,929 shares of the company’s stock, valued at approximately C$5,777,896.77. In the last three months, insiders sold 14,916 shares of company stock worth $656,930.
About Boardwalk REIT
Boardwalk REIT strives to be Canada's friendliest communities and currently owns and operates more than 200 communities with over 33,000 residential units totaling over 28 million net rentable square feet. Boardwalk's principal objectives are to provide its Residents with the best quality communities and superior customer service, while providing Unitholders with sustainable monthly cash distributions, and increase the value of its trust units through selective acquisitions, dispositions, development, and effective management of its residential multi-family communities.
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