Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Rating Lowered to "Outperform" at Raymond James Financial

Key Points

• Raymond James downgraded Boardwalk REIT from "strong-buy" to "outperform" and cut its price target to C$80 (from C$82), implying roughly a 23.44% upside from the current share price.
• Several other brokers have also trimmed targets (RBC C$81, National Bank C$80, Scotiabank C$75.50, Desjardins C$77, BMO C$76), leaving a consensus rating of "Moderate Buy" with an average target of C$79.50.
• Shares traded down to C$64.81 (market cap C$3.38B) with a P/E of 16.88; the REIT reported a quarterly EPS of C($1.21) and revenue of C$164.85 million, and carries a debt-to-equity ratio around 77.35.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN - Get Free Report) was downgraded by analysts at Raymond James Financial from a "strong-buy" rating to an "outperform" rating in a research report issued to clients and investors on Friday,BayStreet.CA reports. They currently have a C$80.00 price objective on the real estate investment trust's stock, down from their prior price objective of C$82.00. Raymond James Financial's target price would suggest a potential upside of 23.44% from the company's current price.

A number of other research firms also recently weighed in on BEI.UN. Royal Bank Of Canada dropped their price target on shares of Boardwalk Real Estate Investment Trust from C$82.00 to C$81.00 and set an "outperform" rating for the company in a research report on Thursday. National Bank Financial lowered their price target on Boardwalk Real Estate Investment Trust from C$81.00 to C$80.00 and set an "outperform" rating for the company in a report on Monday, April 20th. Scotiabank lowered their price objective on shares of Boardwalk Real Estate Investment Trust from C$78.00 to C$75.50 and set a "sector perform" rating for the company in a research report on Monday, February 23rd. Desjardins reduced their price target on Boardwalk Real Estate Investment Trust from C$78.00 to C$77.00 and set a "buy" rating on the stock in a report on Thursday. Finally, BMO Capital Markets cut their price target on shares of Boardwalk Real Estate Investment Trust from C$77.00 to C$76.00 and set a "market perform" rating on the stock in a report on Monday, February 23rd. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Boardwalk Real Estate Investment Trust has an average rating of "Moderate Buy" and a consensus target price of C$79.50.

Boardwalk Real Estate Investment Trust Stock Performance

Shares of TSE:BEI.UN traded down C$1.26 on Friday, hitting C$64.81. The company had a trading volume of 140,645 shares, compared to its average volume of 127,556. The stock has a market cap of C$3.38 billion, a price-to-earnings ratio of 16.88, a P/E/G ratio of 1.24 and a beta of 0.40. 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 stock has a 50 day moving average price of C$65.37 and a 200 day moving average price of C$65.49. Boardwalk Real Estate Investment Trust has a 1-year low of C$60.75 and a 1-year high of C$75.37.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN - Get Free Report) last announced its quarterly earnings results on Friday, February 20th. The real estate investment trust reported C($1.21) EPS for the quarter. Boardwalk Real Estate Investment Trust had a net margin of 118.55% and a return on equity of 15.71%. The company had revenue of C$164.85 million during the quarter. Analysts expect that Boardwalk Real Estate Investment Trust will post 4.4537396 EPS for the current year.

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. The submarkets around the cities of Calgary and Edmonton, specifically, account for the majority of Boardwalk REIT's total residential suites.

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