Boardwalk REIT (BEI.UN) Price Target Increased to C$50.00 by Analysts at Raymond James Financial, Inc.
Boardwalk REIT (TSE:BEI.UN) had its target price hoisted by investment analysts at Raymond James Financial, Inc. from C$45.00 to C$50.00 in a report released on Friday. The brokerage presently has an “outperform” rating on the real estate investment trust’s stock. Raymond James Financial, Inc.’s target price would suggest a potential upside of 29.27% from the stock’s previous close.
A number of other brokerages also recently weighed in on BEI.UN. Scotiabank lowered their target price on shares of Boardwalk REIT from C$48.00 to C$42.50 and set a “sector perform” rating for the company in a research note on Monday, August 14th. CIBC lowered their target price on shares of Boardwalk REIT from C$44.00 to C$40.00 in a research note on Thursday. Royal Bank Of Canada lowered their target price on shares of Boardwalk REIT from C$49.00 to C$45.00 and set a “sector perform” rating for the company in a research note on Monday, August 14th. TD Securities raised shares of Boardwalk REIT from a “hold” rating to a “buy” rating and lifted their target price for the stock from C$46.00 to C$52.00 in a research note on Wednesday. Finally, BMO Capital Markets downgraded shares of Boardwalk REIT from a “market perform” rating to an “underperform” rating and lowered their target price for the stock from C$44.50 to C$37.75 in a research note on Friday, August 11th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of C$42.93.
Shares of Boardwalk REIT (TSE:BEI.UN) traded up C$0.10 during midday trading on Friday, reaching C$38.68. 126,342 shares of the company were exchanged, compared to its average volume of 124,807. Boardwalk REIT has a fifty-two week low of C$37.96 and a fifty-two week high of C$51.18.
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Boardwalk Real Estate Investment Trust (the Trust) is an open-ended real estate investment trust (REIT). The Company is focused on the acquisition, refurbishment, management, ownership and development of multi-family residential communities within Canada. The Trust owns over 200 properties containing approximately 33,770 residential units within the Provinces of Alberta, Saskatchewan, Ontario and Quebec, representing over 30 million net rentable square feet.
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