Boardwalk REIT (TSE:BEI.UN) PT Raised to C$48.00 at Desjardins
Boardwalk REIT (TSE:BEI.UN) had its price target upped by stock analysts at Desjardins from C$47.00 to C$48.00 in a research report issued to clients and investors on Thursday, BayStreet.CA reports. The brokerage presently has a “hold” rating on the real estate investment trust’s stock. Desjardins’ target price suggests a potential upside of 6.67% from the company’s previous close.
Several other research firms also recently weighed in on BEI.UN. BMO Capital Markets raised their target price on Boardwalk REIT from C$48.00 to C$49.25 in a research report on Monday. TD Securities raised their target price on Boardwalk REIT from C$52.00 to C$54.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Royal Bank of Canada upgraded Boardwalk REIT from a “sector perform” rating to an “outperform” rating and raised their target price for the company from C$49.00 to C$51.00 in a research report on Monday. CIBC raised their target price on Boardwalk REIT from C$46.00 to C$47.00 in a research report on Friday, August 16th. Finally, Canaccord Genuity raised their target price on Boardwalk REIT from C$44.00 to C$46.00 and gave the company a “hold” rating in a research report on Friday, August 16th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Boardwalk REIT presently has a consensus rating of “Hold” and an average price target of C$48.86.
BEI.UN traded up C$0.13 during trading on Thursday, hitting C$45.00. The company’s stock had a trading volume of 29,626 shares, compared to its average volume of 119,513. The company has a current ratio of 0.09, a quick ratio of 0.05 and a debt-to-equity ratio of 91.58. Boardwalk REIT has a twelve month low of C$36.47 and a twelve month high of C$52.43. The business’s fifty day simple moving average is C$41.64 and its 200 day simple moving average is C$40.88. The firm has a market capitalization of $2.08 billion and a price-to-earnings ratio of 24.71.
Boardwalk REIT Company Profile
Boardwalk REIT strives to be Canada's friendliest communities and currently owns and operates more than 200 communities with over 33,000 residential units totaling over 28 million net rentable square feet. Boardwalk's principal objectives are to provide its Residents with the best quality communities and superior customer service, while providing Unitholders with sustainable monthly cash distributions, and increase the value of its trust units through selective acquisitions, dispositions, development, and effective management of its residential multi-family communities.
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