Boardwalk REIT (TSE:BEI.UN) was downgraded by equities research analysts at TD Securities from a “buy” rating to a “hold” rating in a report released on Friday. They presently have a C$50.00 price target on the real estate investment trust’s stock, down from their previous price target of C$58.00.

A number of other brokerages also recently issued reports on BEI.UN. Scotiabank lowered their price objective on Boardwalk REIT from C$56.00 to C$55.00 and set a “sector perform” rating on the stock in a research report on Monday, August 15th. CIBC lowered their price objective on Boardwalk REIT from C$52.00 to C$50.00 in a research report on Monday, August 15th. Canaccord Genuity lowered their price objective on Boardwalk REIT from C$53.00 to C$50.00 in a research report on Friday, August 12th. National Bank Financial lowered their price objective on Boardwalk REIT from C$53.50 to C$50.00 in a research report on Friday, August 19th. Finally, BMO Capital Markets lowered their price objective on Boardwalk REIT from C$55.00 to C$50.00 and set a “market perform” rating on the stock in a research report on Monday, August 15th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. Boardwalk REIT presently has a consensus rating of “Hold” and a consensus price target of C$51.77.

Analyst Recommendations for Boardwalk REIT (TSE:BEI.UN)

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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