Boardwalk REIT (TSE:BEI.UN) Given Average Rating of “Buy” by Brokerages

Boardwalk REIT (TSE:BEI.UN) has earned a consensus rating of “Buy” from the eight brokerages that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is C$53.28.

BEI.UN has been the subject of a number of recent analyst reports. Canaccord Genuity upped their price target on shares of Boardwalk REIT from C$40.00 to C$45.00 and gave the company a “na” rating in a report on Tuesday, July 6th. BMO Capital Markets upped their price target on shares of Boardwalk REIT from C$42.25 to C$51.00 and gave the company a “na” rating in a report on Monday, August 16th. TD Securities upped their price target on shares of Boardwalk REIT from C$59.00 to C$60.00 and gave the company a “na” rating in a report on Friday, October 1st. Scotiabank upped their price target on shares of Boardwalk REIT from C$43.50 to C$51.25 in a report on Monday, August 16th. Finally, National Bankshares increased their target price on shares of Boardwalk REIT from C$51.50 to C$56.00 and gave the company an “outperform” rating in a research note on Monday, August 16th.

BEI.UN stock traded up C$0.62 during mid-day trading on Thursday, reaching C$50.90. 154,170 shares of the stock traded hands, compared to its average volume of 131,843. The company has a quick ratio of 0.08, a current ratio of 0.11 and a debt-to-equity ratio of 110.79. Boardwalk REIT has a 52 week low of C$25.80 and a 52 week high of C$50.99. The business has a 50-day moving average of C$47.65 and a two-hundred day moving average of C$42.60. The firm has a market capitalization of C$2.60 billion and a PE ratio of -16.88.

About Boardwalk REIT

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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