Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Stock Price Target Lowered at ATB Cormark Capital Markets

Key Points

• ATB Cormark cut its price target on Boardwalk REIT from C$80 to C$77 while maintaining an “outperform” rating; the new target implies about 23% upside from the current share price.
• Analyst views are mixed but lean positive: seven rate the stock Buy and three Hold, producing a “Moderate Buy” consensus and an average target of C$77.47.
• Shares 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 target price cut by equities researchers at ATB Cormark Capital Markets from C$80.00 to C$77.00 in a report issued on Thursday, BayStreet reports. The firm currently has an "outperform" rating on the real estate investment trust's stock. ATB Cormark Capital Markets's target price points to a potential upside of 22.96% from the stock's current price.

Other research analysts have also issued reports about the stock. Scotiabank decreased 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 report on Thursday, July 30th. Scotia cut their target price on shares of Boardwalk Real Estate Investment Trust from C$74.00 to C$73.50 and set a "sector perform" rating on the stock in a research note on Thursday. Royal Bank Of Canada upped their target price on shares of Boardwalk Real Estate Investment Trust from C$81.00 to C$84.00 and gave the company an "outperform" rating in a research note on Thursday, July 30th. Finally, National Bank Financial reduced 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 research report on Wednesday, October 21st. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of C$77.47.

Boardwalk Real Estate Investment Trust Stock Down 0.3%

Shares of BEI.UN stock traded down C$0.16 during mid-day trading on Thursday, reaching C$62.62. 97,521 shares of the company were exchanged, compared to its average volume of 118,512. Boardwalk Real Estate Investment Trust has a fifty-two week low of C$59.93 and a fifty-two week high of C$70.12. The company has a debt-to-equity ratio of 77.35, a quick ratio of 0.04 and a current ratio of 0.23. The company has a market capitalization of C$3.27 billion, a P/E ratio of -73.67, a P/E/G ratio of 1.24 and a beta of 0.56. The business's 50 day simple moving average is C$61.83 and its 200 day simple moving average is C$64.63.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN - Get Free Report) last issued its quarterly earnings results on Tuesday, November 3rd. The real estate investment trust reported C$0.19 earnings per share (EPS) for the quarter. The business had revenue of C$159.82 million during the quarter. Boardwalk Real Estate Investment Trust had a net margin of 118.55% and a return on equity of 15.71%. Research analysts predict that Boardwalk Real Estate Investment Trust will post 4.45 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.

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