Royal Bank Of Canada Has Lowered Expectations for Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Stock Price

Key Points

• Royal Bank of Canada cut its price target on Boardwalk REIT from C$84 to C$83, while maintaining an “outperform” rating; the revised target implies 32.55% upside from the cited share price.
• Other analysts also lowered targets, though most retained positive ratings. Overall, seven analysts rate the stock Buy and three Hold, giving it a “Moderate Buy” consensus and an average target of C$77.47.
• Boardwalk shares traded at C$62.62 on Thursday, down C$0.16. The REIT 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 target reduced by Royal Bank Of Canada from C$84.00 to C$83.00 in a research note issued on Thursday, BayStreet reports. The firm presently has an "outperform" rating on the real estate investment trust's stock. Royal Bank Of Canada's price target points to a potential upside of 32.55% from the company's current price.

Several other research analysts have also recently commented on BEI.UN. National Bank Financial lowered their target price 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. Scotia cut 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. ATB Cormark Capital Markets reduced their price target on Boardwalk Real Estate Investment Trust from C$80.00 to C$77.00 and set an "outperform" rating on the stock in a research report on Thursday. 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 on the stock in a research note on Thursday, July 30th. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average 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, reaching C$62.62. 97,521 shares of the company's stock were exchanged, compared to its average volume of 118,512. Boardwalk Real Estate Investment Trust has a one year low of C$59.93 and a one year 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 business's fifty day simple moving average is C$61.83 and its two-hundred day simple moving average is 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.

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 earnings per share (EPS) for the quarter. Boardwalk Real Estate Investment Trust had a net margin of 118.55% and a return on equity of 15.71%. The firm had revenue of C$159.82 million during the quarter. 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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