Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Price Target Lowered to C$82.00 at TD

Key Points

• TD lowered its price target on Boardwalk REIT from C$85.00 to C$82.00 while keeping a "buy" rating, implying about a 24.7% upside from the current share price.
• Multiple firms have trimmed targets recently, leaving a consensus rating of Moderate Buy with an average price target of C$79.70 (one Strong Buy, five Buy, four Hold).
• Shares traded around C$65.76 (market cap C$3.43B) with a P/E of 17.13; the REIT reported a quarterly EPS of C($1.21), revenue of C$164.85M, and a debt-to-equity ratio of 77.35.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN - Get Free Report) had its price target reduced by investment analysts at TD from C$85.00 to C$82.00 in a report released on Thursday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the real estate investment trust's stock. TD's target price suggests a potential upside of 24.70% from the stock's current price.

Several other equities research analysts also recently issued reports on the company. BMO Capital Markets reduced their price objective on Boardwalk Real Estate Investment Trust from C$77.00 to C$76.00 and set a "market perform" rating for the company in a research note on Monday, February 23rd. Scotia lowered their target price on Boardwalk Real Estate Investment Trust from C$75.50 to C$74.50 and set a "sector perform" rating on the stock in a research note on Thursday. Desjardins decreased their price target on shares of 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. Royal Bank Of Canada lowered their price objective on shares of Boardwalk Real Estate Investment Trust from C$82.00 to C$81.00 and set an "outperform" rating on the stock in a research report on Thursday. Finally, Raymond James Financial cut their target price 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 research report on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of C$79.70.

Boardwalk Real Estate Investment Trust Trading Up 0.6%

Boardwalk Real Estate Investment Trust stock traded up C$0.36 during midday trading on Thursday, reaching C$65.76. The stock had a trading volume of 125,837 shares, compared to its average volume of 126,855. The firm's fifty day simple moving average is C$65.37 and its two-hundred day simple moving average is C$65.49. Boardwalk Real Estate Investment Trust has a twelve month low of C$60.75 and a twelve month high of C$75.37. 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 firm has a market cap of C$3.43 billion, a price-to-earnings ratio of 17.13, a PEG ratio of 1.24 and a beta of 0.40.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN - Get Free Report) last announced its earnings results on Friday, February 20th. The real estate investment trust reported C($1.21) earnings per share (EPS) for the quarter. The firm had revenue of C$164.85 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 analysts anticipate that Boardwalk Real Estate Investment Trust will post 4.4537396 EPS 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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