Boardwalk REIT (BEI.UN) PT Lowered to C$44.50
Boardwalk REIT (TSE:BEI.UN) had its target price dropped by Canaccord Genuity from C$50.00 to C$44.50 in a research note issued to investors on Friday. The firm presently has a “hold” rating on the real estate investment trust’s stock.
Several other analysts have also commented on BEI.UN. Scotiabank lowered their price objective on shares of Boardwalk REIT from C$56.00 to C$55.00 and set a “sector perform” rating for the company in a report on Monday, August 15th. CIBC lowered their target price on shares of Boardwalk REIT from C$52.00 to C$50.00 in a report on Monday, August 15th. National Bank Financial lowered their target price on shares of Boardwalk REIT from C$53.50 to C$50.00 in a report on Friday, August 19th. BMO Capital Markets lowered their target price on shares of Boardwalk REIT from C$55.00 to C$50.00 and set a “market perform” rating for the company in a report on Monday, August 15th. Finally, Dundee Securities lowered shares of Boardwalk REIT from a “buy” rating to a “negative” rating and lowered their target price for the company from C$63.00 to C$58.00 in a report on Friday, August 12th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of C$51.77.
About Boardwalk REIT
Boardwalk Real Estate Investment Trust (Boardwalk REIT or the Trust) is an open-ended real estate investment trust. The Trust is focused on the acquisition, refurbishment, management and ownership, and where deemed appropriate the development, of multi-family residential communities within Canada. The Trust owns approximately 32,950 residential units within the Provinces of Alberta, Saskatchewan, Ontario and Quebec, representing over 30 million net rentable square feet.
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