Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Stock Gets Price Target Cut from Scotia

Key Points

• Scotia cut its price target on Boardwalk REIT from C$74.00 to C$73.50, maintaining a “sector perform” rating; the new target implies 17.37% upside from the current share price.
• Analyst sentiment remains positive overall: seven analysts rate the units “Buy” and three “Hold,” giving the REIT a “Moderate Buy” consensus and an average target of C$77.47.
• The units fell 0.3% to C$62.62 in Thursday trading. Boardwalk reported quarterly EPS of C$0.19 and revenue of C$159.82 million.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN - Get Free Report) had its price objective reduced by equities research analysts at Scotia from C$74.00 to C$73.50 in a research note issued to investors on Thursday, BayStreet reports. The firm presently has a "sector perform" rating on the real estate investment trust's stock. Scotia's price objective suggests a potential upside of 17.37% from the stock's current price.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank Of Canada upped their price target on shares of Boardwalk Real Estate Investment Trust from C$81.00 to C$84.00 and gave the stock an "outperform" rating in a research report on Thursday, July 30th. National Bank Financial cut their price objective 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. Finally, Scotiabank reduced their price objective 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 note on Thursday, July 30th. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of C$77.47.

Boardwalk Real Estate Investment Trust Stock Down 0.3%

TSE:BEI.UN traded down C$0.16 during mid-day trading on Thursday, reaching C$62.62. The company's stock had a trading volume of 97,521 shares, compared to its average volume of 118,512. Boardwalk Real Estate Investment Trust has a 1 year low of C$59.93 and a 1 year high of C$70.12. The stock has a fifty day moving average of C$61.83 and a 200-day moving average of C$64.63. The firm has a market capitalization of C$3.27 billion, a PE ratio of -73.67, a price-to-earnings-growth ratio of 1.24 and a beta of 0.56. The company has a quick ratio of 0.04, a current ratio of 0.23 and a debt-to-equity ratio of 77.35.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN - Get Free Report) last issued 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 net margin of 118.55% and a return on equity of 15.71%. Equities research analysts forecast that Boardwalk Real Estate Investment Trust will post 4.45 earnings per share for the current year.

Boardwalk Real Estate Investment Trust Company Profile

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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