ATB Cormark Capital Markets Issues Pessimistic Forecast for Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Stock Price

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) had its target price decreased by ATB Cormark Capital Markets from C$80.00 to C$77.00 in a note issued to investors on Thursday, BayStreet reports. The brokerage presently has an “outperform” rating on the real estate investment trust’s stock. ATB Cormark Capital Markets‘s price target would suggest a potential upside of 23.18% from the stock’s current price.

BEI.UN has been the subject of a number of other research reports. Scotia dropped their price target on Boardwalk Real Estate Investment Trust from C$74.00 to C$73.50 and set a “sector perform” rating for the company in a research note on Thursday. National Bank Financial decreased their target price on Boardwalk Real Estate Investment Trust from C$81.00 to C$74.25 and set an “outperform” rating for the company in a research report on Wednesday, October 21st. Royal Bank Of Canada increased their price objective on Boardwalk Real Estate Investment Trust from C$81.00 to C$84.00 and gave the stock an “outperform” rating in a report on Thursday, July 30th. Finally, Scotiabank lowered their price objective on Boardwalk Real Estate Investment Trust from C$74.50 to C$74.00 and set a “sector perform” rating for the company in a research report on Thursday, July 30th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$77.47.

Boardwalk Real Estate Investment Trust Trading Down 1.2%

Shares of BEI.UN stock traded down C$0.75 during mid-day trading on Thursday, reaching C$62.51. The stock had a trading volume of 141,300 shares, compared to its average volume of 118,994. The firm has a market capitalization of C$2.83 billion, a PE ratio of -73.54, a price-to-earnings-growth ratio of 1.24 and a beta of 0.54. The stock’s 50-day moving average price is C$61.80 and its two-hundred day moving average price is C$64.57. The company has a current ratio of 0.23, a quick ratio of 0.04 and a debt-to-equity ratio of 77.35. Boardwalk Real Estate Investment Trust has a 52-week low of C$59.93 and a 52-week high of C$70.12.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) last posted its earnings results on Tuesday, November 3rd. The real estate investment trust reported C$0.19 earnings per share (EPS) for the quarter. The company had revenue of C$159.82 million for the quarter. Boardwalk Real Estate Investment Trust had a return on equity of 15.71% and a net margin of 118.55%. Equities analysts expect that Boardwalk Real Estate Investment Trust will post 4.45 earnings per share for the current fiscal 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.