Boardwalk REIT (TSE:BEI.UN) Price Target Cut to C$90.00

Boardwalk REIT (TSE:BEI.UN) had its price objective decreased by stock analysts at TD Securities from C$92.00 to C$90.00 in a report released on Wednesday, BayStreet.CA reports. TD Securities’ price target suggests a potential upside of 23.03% from the company’s current price.

Other research analysts have also recently issued reports about the company. Desjardins raised their target price on Boardwalk REIT from C$81.00 to C$86.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. CIBC lifted their price objective on Boardwalk REIT from C$74.50 to C$81.00 and gave the company a “neutral” rating in a report on Monday, February 26th. BMO Capital Markets lifted their price objective on Boardwalk REIT from C$78.00 to C$84.00 and gave the company an “outperform” rating in a report on Monday, February 26th. Scotiabank cut their price objective on Boardwalk REIT from C$82.00 to C$80.25 and set a “sector perform” rating for the company in a report on Monday, March 25th. Finally, National Bankshares cut their price objective on Boardwalk REIT from C$87.00 to C$86.50 and set an “outperform” rating for the company in a report on Wednesday. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$84.42.

Boardwalk REIT Stock Performance

BEI.UN stock traded down C$0.88 during midday trading on Wednesday, hitting C$73.15. The stock had a trading volume of 40,334 shares, compared to its average volume of 122,832. The firm has a market capitalization of C$3.61 billion, a price-to-earnings ratio of 5.03, a P/E/G ratio of 1.24 and a beta of 1.71. Boardwalk REIT has a 52 week low of C$57.14 and a 52 week high of C$80.10. The stock has a 50-day simple moving average of C$75.29 and a 200 day simple moving average of C$71.04. The company has a current ratio of 0.61, a quick ratio of 0.04 and a debt-to-equity ratio of 85.98.

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.