RBC Capital Markets Lowers Boardwalk REIT (BEI.UN) Price Target to C$46.00
Boardwalk REIT (TSE:BEI.UN) had its price target reduced by research analysts at RBC Capital Markets from C$54.00 to C$46.00 in a research report issued on Monday. The brokerage currently has a “sector perform” rating on the real estate investment trust’s stock.
A number of other equities research analysts have also recently commented on BEI.UN. Canaccord Genuity decreased their target price on shares of Boardwalk REIT from C$53.00 to C$50.00 in a research report on Friday, August 12th. Dundee Securities cut shares of Boardwalk REIT from a “buy” rating to a “negative” rating and decreased their target price for the company from C$63.00 to C$58.00 in a research report on Friday, August 12th. National Bank Financial decreased their target price on shares of Boardwalk REIT from C$53.50 to C$50.00 in a research report on Friday, August 12th. BMO Capital Markets decreased their price target 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, CIBC decreased their price target on shares of Boardwalk REIT from C$52.00 to C$50.00 in a report on Monday, August 15th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price 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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