Scotia Lowers Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Price Target to C$74.50

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) had its price objective cut by equities researchers at Scotia from C$75.50 to C$74.50 in a report issued on Thursday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the real estate investment trust’s stock. Scotia’s target price points to a potential upside of 13.29% from the stock’s current price.

BEI.UN has been the topic of a number of other reports. Desjardins cut their price objective on Boardwalk Real Estate Investment Trust from C$78.00 to C$77.00 and set a “buy” rating on the stock in a report on Thursday. Scotiabank dropped their target price on Boardwalk Real Estate Investment Trust from C$78.00 to C$75.50 and set a “sector perform” rating on the stock in a research report on Monday, February 23rd. National Bank Financial reduced their price target on shares of Boardwalk Real Estate Investment Trust from C$81.00 to C$80.00 and set an “outperform” rating for the company in a research report on Monday, April 20th. Royal Bank Of Canada decreased their price objective on shares of Boardwalk Real Estate Investment Trust from C$82.00 to C$81.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, Raymond James Financial cut their price objective on shares of Boardwalk Real Estate Investment Trust from C$83.00 to C$82.00 and set a “strong-buy” rating on the stock in a research note on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$79.70.

Boardwalk Real Estate Investment Trust Stock Performance

TSE:BEI.UN traded up C$0.36 during trading hours on Thursday, hitting C$65.76. 125,837 shares of the company were exchanged, compared to its average volume of 126,855. The company has a debt-to-equity ratio of 77.35, a current ratio of 0.23 and a quick ratio of 0.04. Boardwalk Real Estate Investment Trust has a 52-week low of C$60.75 and a 52-week high of C$75.37. The stock has a market capitalization of C$3.43 billion, a price-to-earnings ratio of 17.13, a PEG ratio of 1.24 and a beta of 0.40. The company’s 50 day moving average price is C$65.37 and its 200-day moving average price is C$65.49.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) last posted its quarterly earnings data on Friday, February 20th. The real estate investment trust reported C($1.21) EPS for the quarter. Boardwalk Real Estate Investment Trust had a return on equity of 15.71% and a net margin of 118.55%.The company had revenue of C$164.85 million for the quarter. As a group, research analysts forecast that Boardwalk Real Estate Investment Trust will post 4.4537396 earnings per share for the current year.

About Boardwalk Real Estate Investment Trust

Boardwalk Real Estate Investment Trust, or Boardwalk REIT, is a real estate investment trust engaged in the acquisition, development, and management of residential multifamily communities throughout Canada. Although the company’s cumulative residential property portfolio includes holdings in the provinces of Alberta, Saskatchewan, Ontario, and Quebec, the majority of its total units are located in Alberta. The submarkets around the cities of Calgary and Edmonton, specifically, account for the majority of Boardwalk REIT’s total residential suites.