Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Given New C$85.00 Price Target at Desjardins

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 price objective raised by Desjardins from C$80.00 to C$85.00 in a research note published on Thursday,BayStreet.CA reports. Desjardins currently has a buy rating on the real estate investment trust's stock.

Several other analysts have also issued reports on the company. National Bankshares increased their price objective on Boardwalk Real Estate Investment Trust from C$77.50 to C$82.50 and gave the stock an "outperform" rating in a report on Thursday. BMO Capital Markets increased their price objective on Boardwalk Real Estate Investment Trust from C$73.00 to C$75.00 in a report on Monday, May 12th. Raymond James Financial set a C$86.00 price objective on Boardwalk Real Estate Investment Trust in a report on Friday, July 11th. Finally, TD Securities raised 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 report on Thursday. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on 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 Stock Down 0.1%

Shares of TSE:BEI.UN traded down C$0.05 during midday trading on Thursday, hitting C$71.40. 230,523 shares of the stock were exchanged, 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. Boardwalk Real Estate Investment Trust has a 52-week low of C$59.10 and a 52-week high of C$91.81. The business's fifty day simple moving average is C$70.33 and its two-hundred day simple moving average is C$66.42. The company has a market capitalization of C$3.53 billion, a PE ratio of 5.28, a P/E/G ratio of 1.24 and a beta of 1.76.

Boardwalk Real Estate Investment Trust Announces Dividend

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

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.