Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Price Target Raised to C$73.00

Key Points

• Raymond James raised its price target on Boardwalk REIT from C$72.50 to C$73.00 and maintained an “outperform” rating, implying 16.58% upside from the prior close.
• Analyst views remain broadly positive: seven rate the stock Buy and three Hold, for a MarketBeat “Moderate Buy” consensus and average target of C$77.47.
• Boardwalk reported quarterly EPS of C$0.19 and revenue of C$159.82 million; the units traded at C$62.62 on Thursday.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN - Get Free Report) had its price target lifted by equities researchers at Raymond James Financial from C$72.50 to C$73.00 in a research report issued to clients and investors on Thursday, BayStreet reports. The firm currently has an "outperform" rating on the real estate investment trust's stock. Raymond James Financial's target price would suggest a potential upside of 16.58% from the stock's previous close.

Other equities research analysts have also issued reports about the stock. Royal Bank Of Canada reduced their target price on shares of Boardwalk Real Estate Investment Trust from C$84.00 to C$83.00 and set an "outperform" rating for the company in a report on Thursday. National Bank Financial lowered their price target on shares of Boardwalk Real Estate Investment Trust from C$81.00 to C$74.25 and set an "outperform" rating on the stock in a report on Wednesday, October 21st. ATB Cormark Capital Markets lowered their price target on shares of Boardwalk Real Estate Investment Trust from C$80.00 to C$77.00 and set an "outperform" rating on the stock in a report on Thursday. Scotiabank dropped their price target on shares of 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. Finally, Scotia reduced their price objective on shares of 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. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Boardwalk Real Estate Investment Trust presently has a consensus rating of "Moderate Buy" and an average target price of C$77.47.

Boardwalk Real Estate Investment Trust Stock Performance

TSE:BEI.UN traded down C$0.16 during mid-day trading on Thursday, hitting C$62.62. 97,521 shares of the company traded hands, compared to its average volume of 118,512. The company has a quick ratio of 0.04, a current ratio of 0.23 and a debt-to-equity ratio of 77.35. The stock's fifty day moving average price is C$61.83 and its 200-day moving average price is C$64.63. The firm has a market cap of C$3.27 billion, a price-to-earnings ratio of -73.67, a price-to-earnings-growth ratio of 1.24 and a beta of 0.56. Boardwalk Real Estate Investment Trust has a one year low of C$59.93 and a one year high of C$70.12.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN - Get Free Report) last posted its quarterly earnings data on Tuesday, November 3rd. The real estate investment trust reported C$0.19 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 firm had revenue of C$159.82 million for the quarter. Research analysts anticipate 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.

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