Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Price Target Raised to C$87.50

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 - Get Free Report) had its price target boosted by Raymond James Financial from C$86.00 to C$87.50 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the real estate investment trust's stock. Raymond James Financial's target price suggests a potential upside of 21.92% from the company's previous close.

A number of other equities analysts also recently issued reports on the stock. National Bankshares increased their price target on shares of Boardwalk Real Estate Investment Trust from C$77.50 to C$82.50 and gave the stock an "outperform" rating in a research note on Thursday. BMO Capital Markets increased their price target on shares of Boardwalk Real Estate Investment Trust from C$73.00 to C$75.00 in a research note on Monday, May 12th. TD Securities increased their price target 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. Desjardins increased their price target 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. Finally, CIBC increased their price target on shares of Boardwalk Real Estate Investment Trust from C$80.00 to C$84.00 and gave the stock a "neutral" rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of C$83.44.

Boardwalk Real Estate Investment Trust Trading Down 2.2%

Shares of Boardwalk Real Estate Investment Trust stock traded down C$1.64 during trading on Thursday, reaching C$71.77. 132,703 shares of the stock were exchanged, compared to its average volume of 119,962. The company has a quick ratio of 0.04, a current ratio of 0.23 and a debt-to-equity ratio of 77.35. The stock's fifty day moving average is C$70.07 and its 200 day moving average is C$66.21. The firm has a market cap of C$3.55 billion, a price-to-earnings ratio of 5.31, a price-to-earnings-growth 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.

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