Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Price Target Raised to C$81.00

Key Points

• National Bank Financial raised Boardwalk REIT’s price target from C$79.00 to C$81.00 while maintaining an “outperform” rating, implying 21.29% upside from the previous close.
• Analyst sentiment remains favorable, with six Buy ratings and four Holds producing a “Moderate Buy” consensus and an average target price of C$79.75.
• BEI.UN traded at C$66.78, near its 50-day and 200-day moving averages, with a market capitalization of approximately C$3.47 billion and a 52-week range of C$60.75 to C$73.96.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN - Get Free Report) had its price target lifted by analysts at National Bank Financial from C$79.00 to C$81.00 in a report released on Thursday,BayStreet.CA reports. The firm currently has an "outperform" rating on the real estate investment trust's stock. National Bank Financial's price target points to a potential upside of 21.29% from the company's previous close.

BEI.UN has been the subject of several other research reports. Raymond James Financial lowered shares of Boardwalk Real Estate Investment Trust from a "strong-buy" rating to an "outperform" rating and dropped their price target for the stock from C$82.00 to C$80.00 in a research report on Friday, May 8th. TD cut their price objective on Boardwalk Real Estate Investment Trust from C$85.00 to C$82.00 and set a "buy" rating for the company in a report on Thursday, May 7th. Royal Bank Of Canada lifted their price target 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 report on Thursday. Scotia cut their target price on shares of Boardwalk Real Estate Investment Trust from C$75.50 to C$74.50 and set a "sector perform" rating for the company in a research note on Thursday, May 7th. Finally, Desjardins reduced their price objective on Boardwalk Real Estate Investment Trust from C$78.00 to C$77.00 and set a "buy" rating on the stock in a research note on Thursday, May 7th. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of C$79.75.

Boardwalk Real Estate Investment Trust Stock Performance

BEI.UN stock traded down C$0.32 during midday trading on Thursday, hitting C$66.78. The stock had a trading volume of 124,431 shares, compared to its average volume of 129,824. The firm has a market capitalization of C$3.47 billion, a price-to-earnings ratio of 73.38, a P/E/G ratio of 1.24 and a beta of 0.53. The company has a current ratio of 0.23, a quick ratio of 0.04 and a debt-to-equity ratio of 77.35. The stock has a 50-day simple moving average of C$65.18 and a 200 day simple moving average of C$65.78. Boardwalk Real Estate Investment Trust has a 52 week low of C$60.75 and a 52 week high of C$73.96.

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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