Desjardins Boosts Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Price Target to C$85.00

Key Points

• Desjardins has raised its price target for Boardwalk Real Estate Investment Trust (TSE:BEI.UN) from C$80.00 to C$85.00, indicating a potential upside of 18.43% from its current price and maintaining a "buy" rating.
• Other analysts have also increased their price targets, with TD Securities setting it at C$87.00 and National Bankshares at C$82.50, reflecting a generally positive outlook on the stock.
• As of Thursday, Boardwalk REIT's stock fell by 2.2%, closing at C$71.77, with a current market capitalization of C$3.55 billion.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN - Free Report) had its target price hoisted by Desjardins from C$80.00 to C$85.00 in a research report released on Thursday morning,BayStreet.CA reports. They currently have a buy rating on the real estate investment trust's stock.

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

Boardwalk Real Estate Investment Trust Trading Down 0.1%

TSE BEI.UN traded down C$0.05 on Thursday, hitting C$71.40. 230,523 shares of the company were exchanged, compared to its average volume of 121,411. The company's 50 day moving average price is C$70.33 and its 200-day moving average price is C$66.35. 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 capitalization of C$3.53 billion, a P/E ratio of 5.28, a price-to-earnings-growth ratio of 1.24 and a beta of 1.76. Boardwalk Real Estate Investment Trust has a twelve month low of C$59.10 and a twelve month high of C$91.81.

Boardwalk Real Estate Investment Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 15th will be issued a dividend of $0.135 per share. This represents a c) annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Friday, August 29th. Boardwalk Real Estate Investment Trust's payout ratio is currently 10.66%.

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.