Raymond James Financial Forecasts Strong Price Appreciation for Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Stock

Key Points

• Raymond James Financial has raised the price target for Boardwalk Real Estate Investment Trust from C$86.00 to C$87.50, indicating a potential upside of 21.92%.
• Several other analysts also increased their price targets, with the average target now set at C$83.44, reflecting a consensus rating of "Moderate Buy".
• Despite the price target increase, shares of Boardwalk REIT traded down 2.2% on Thursday, reaching C$71.77.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN - Free Report) had its price target raised by Raymond James Financial from C$86.00 to C$87.50 in a report issued on Thursday,BayStreet.CA reports. They currently have an outperform rating on the real estate investment trust's stock.

Several other equities analysts have also issued reports on the stock. CIBC boosted their price target on shares of Boardwalk Real Estate Investment Trust from C$80.00 to C$84.00 and gave the company a "neutral" rating in a report on Thursday. National Bankshares boosted their price target on shares of 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. BMO Capital Markets boosted their price target on shares of Boardwalk Real Estate Investment Trust from C$73.00 to C$75.00 in a report on Monday, May 12th. TD Securities upped their target price on shares of Boardwalk Real Estate Investment Trust from C$85.00 to C$87.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, Desjardins upped their target price on shares of Boardwalk Real Estate Investment Trust from C$80.00 to C$85.00 and gave the stock a "buy" rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of C$83.44.

Boardwalk Real Estate Investment Trust Trading Down 0.1%

Shares of BEI.UN stock traded down C$0.05 on Thursday, hitting C$71.40. The stock had a trading volume of 230,523 shares, compared to its average volume of 121,411. Boardwalk Real Estate Investment Trust has a twelve month low of C$59.10 and a twelve month high of C$91.81. The firm has a market cap of C$3.53 billion, a P/E ratio of 5.28, a PEG ratio of 1.24 and a beta of 1.76. 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 company has a fifty day moving average price of C$70.33 and a two-hundred day moving average price of C$66.42.

Boardwalk Real Estate Investment Trust Announces Dividend

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