Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Price Target Cut to C$74.50 by Analysts at Scotia

Key Points

• Scotia lowered its target price to C$74.50 (from C$75.50) and kept a "sector perform" rating, which the firm says implies roughly a 13.29% upside from the prior close.
• Multiple analysts have trimmed targets recently, with the MarketBeat consensus target at C$79.70 and an average rating of Moderate Buy (one Strong Buy, five Buy, four Hold).
• Shares traded at C$65.76 mid-day (market cap C$3.43B) with a P/E of 17.13, a high debt‑to‑equity ratio of 77.35, and a 12‑month range of C$60.75–C$75.37.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN - Get Free Report) had its target price dropped by investment analysts at Scotia from C$75.50 to C$74.50 in a note issued to investors on Thursday,BayStreet.CA reports. The firm currently has a "sector perform" rating on the real estate investment trust's stock. Scotia's target price indicates a potential upside of 13.29% from the company's previous close.

A number of other equities research analysts have also weighed in on the stock. Raymond James Financial decreased their price objective on shares of Boardwalk Real Estate Investment Trust from C$83.00 to C$82.00 and set a "strong-buy" rating for the company in a report on Monday, February 23rd. Royal Bank Of Canada decreased their price target on shares of Boardwalk Real Estate Investment Trust from C$82.00 to C$81.00 and set an "outperform" rating for the company in a research note on Thursday. Desjardins lowered their price target on Boardwalk Real Estate Investment Trust from C$78.00 to C$77.00 and set a "buy" rating for the company in a report on Thursday. BMO Capital Markets dropped their price objective on Boardwalk Real Estate Investment Trust from C$77.00 to C$76.00 and set a "market perform" rating on the stock in a research note on Monday, February 23rd. Finally, National Bank Financial reduced their price objective on Boardwalk Real Estate Investment Trust from C$81.00 to C$80.00 and set an "outperform" rating on the stock in a report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of C$79.70.

Boardwalk Real Estate Investment Trust Trading Up 0.6%

Shares of BEI.UN traded up C$0.36 during mid-day trading on Thursday, reaching C$65.76. 125,837 shares of the company's stock traded hands, compared to its average volume of 126,855. The company has a debt-to-equity ratio of 77.35, a current ratio of 0.23 and a quick ratio of 0.04. The stock's 50-day moving average is C$65.37 and its two-hundred day moving average is C$65.49. Boardwalk Real Estate Investment Trust has a 12 month low of C$60.75 and a 12 month high of C$75.37. The stock has a market cap of C$3.43 billion, a P/E ratio of 17.13, a P/E/G ratio of 1.24 and a beta of 0.40.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN - Get Free Report) last announced its quarterly earnings data on Friday, February 20th. The real estate investment trust reported C($1.21) 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 business had revenue of C$164.85 million during the quarter. Research analysts forecast that Boardwalk Real Estate Investment Trust will post 4.4537396 earnings per share for the current fiscal 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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