Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Stock Price Expected to Rise, CIBC Analyst Says

Key Points

• Investment analysts at CIBC raised the price target for Boardwalk Real Estate Investment Trust from C$80.00 to C$84.00, indicating a potential upside of 17.04% from the previous close.
• Other analysts have also increased their target prices, with the consensus rating categorized as "Moderate Buy" and the average target price sitting at C$83.44.
• Boardwalk REIT's shares traded down C$1.64 to C$71.77 during Thursday's midday trading, with a market cap of C$3.55 billion.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN - Get Free Report) had its target price hoisted by analysts at CIBC from C$80.00 to C$84.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage currently has a "neutral" rating on the real estate investment trust's stock. CIBC's target price points to a potential upside of 17.65% from the stock's current price.

BEI.UN has been the topic of a number of other reports. National Bankshares lifted their price objective on Boardwalk Real Estate Investment Trust from C$77.50 to C$82.50 and gave the company an "outperform" rating in a report on Thursday. Raymond James Financial set a C$86.00 target price on Boardwalk Real Estate Investment Trust in a report on Friday, July 11th. Desjardins boosted their target price on Boardwalk Real Estate Investment Trust from C$80.00 to C$85.00 and gave the stock a "buy" rating in a report on Thursday. BMO Capital Markets boosted their target price on Boardwalk Real Estate Investment Trust from C$73.00 to C$75.00 in a report on Monday, May 12th. Finally, TD Securities boosted their target price on Boardwalk Real Estate Investment Trust from C$85.00 to C$87.00 and gave the stock a "buy" rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$83.44.

Boardwalk Real Estate Investment Trust Price Performance

TSE BEI.UN traded down C$0.05 during trading on Thursday, reaching C$71.40. 230,523 shares of the company traded hands, compared to its average volume of 121,411. 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 stock's 50 day moving average price is C$70.33 and its two-hundred day moving average price is C$66.42. The company has a market cap of C$3.53 billion, a price-to-earnings ratio of 5.28, a P/E/G ratio of 1.24 and a beta of 1.76. Boardwalk Real Estate Investment Trust has a 1-year low of C$59.10 and a 1-year high of C$91.81.

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.