Desjardins Issues Pessimistic Forecast for Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Stock Price

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) had its price target decreased by equities research analysts at Desjardins from C$78.00 to C$77.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. Desjardins’ price objective would suggest a potential upside of 17.09% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Scotiabank lowered their target price on Boardwalk Real Estate Investment Trust from C$78.00 to C$75.50 and set a “sector perform” rating for the company in a report on Monday, February 23rd. National Bank Financial cut their price target on shares of Boardwalk Real Estate Investment Trust from C$81.00 to C$80.00 and set an “outperform” rating on the stock in a research note on Monday, April 20th. BMO Capital Markets lowered their price objective on shares of Boardwalk Real Estate Investment Trust from C$77.00 to C$76.00 and set a “market perform” rating for the company in a research note on Monday, February 23rd. Finally, Raymond James Financial cut their target price on shares of Boardwalk Real Estate Investment Trust from C$83.00 to C$82.00 and set a “strong-buy” rating on the stock in a research note on Monday, February 23rd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Boardwalk Real Estate Investment Trust has a consensus rating of “Moderate Buy” and an average target price of C$79.70.

Boardwalk Real Estate Investment Trust Trading Up 0.6%

Boardwalk Real Estate Investment Trust stock traded up C$0.36 during mid-day trading on Thursday, hitting C$65.76. The company’s stock had a trading volume of 125,837 shares, compared to its average volume of 126,855. The stock’s fifty day moving average is C$65.37 and its two-hundred day moving average is C$65.49. The company has a current ratio of 0.23, a quick ratio of 0.04 and a debt-to-equity ratio of 77.35. The firm has a market capitalization of C$3.43 billion, a PE ratio of 17.13, a price-to-earnings-growth ratio of 1.24 and a beta of 0.40. Boardwalk Real Estate Investment Trust has a 1 year low of C$60.75 and a 1 year high of C$75.37.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) last announced its earnings results on Friday, February 20th. The real estate investment trust reported C($1.21) earnings per share for the quarter. Boardwalk Real Estate Investment Trust had a return on equity of 15.71% and a net margin of 118.55%.The company had revenue of C$164.85 million for the quarter. On average, analysts anticipate that Boardwalk Real Estate Investment Trust will post 4.4537396 EPS for the current year.

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.