National Bank Financial Issues Pessimistic Forecast for Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Stock Price

Key Points

• National Bank Financial trimmed its price target on Boardwalk REIT from C$81.00 to C$80.00 while keeping an "outperform" rating, implying roughly a 18.03% upside, and other brokers also reduced targets leaving a MarketBeat consensus of "Moderate Buy" with a C$81.06 consensus price target.
• Shares fell to C$67.78 and the company shows mixed fundamentals — market cap C$3.53B and P/E 17.65, but a negative quarterly EPS (C($1.21)), very low liquidity (current ratio 0.23, quick ratio 0.04) and high leverage (debt-to-equity 77.35), which may underpin analyst caution.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN - Get Free Report) had its price target reduced by National Bank Financial from C$81.00 to C$80.00 in a report issued on Monday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the real estate investment trust's stock. National Bank Financial's price target would suggest a potential upside of 18.03% from the company's previous close.

BEI.UN has been the subject of several other reports. Raymond James Financial reduced their price target on Boardwalk Real Estate Investment Trust from C$83.00 to C$82.00 and set a "strong-buy" rating for the company in a report on Monday, February 23rd. BMO Capital Markets reduced their price target on Boardwalk Real Estate Investment Trust from C$77.00 to C$76.00 and set a "market perform" rating for the company in a report on Monday, February 23rd. Desjardins reduced their price target on Boardwalk Real Estate Investment Trust from C$79.00 to C$78.00 and set a "hold" rating for the company in a report on Monday, February 23rd. Finally, Scotiabank reduced their price target on Boardwalk Real Estate Investment Trust from C$78.00 to C$75.50 and set a "sector perform" rating for the company in a report on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of C$81.06.

Boardwalk Real Estate Investment Trust Stock Down 0.6%

Boardwalk Real Estate Investment Trust stock traded down C$0.44 on Monday, hitting C$67.78. 101,378 shares of the stock traded hands, compared to its average volume of 122,398. 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 firm has a market cap of C$3.53 billion, a P/E ratio of 17.65, a price-to-earnings-growth ratio of 1.24 and a beta of 0.40. The business's fifty day simple moving average is C$65.34 and its 200 day simple moving average is C$65.50. 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 data 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 firm had revenue of C$164.85 million for the quarter. As a group, sell-side analysts forecast that Boardwalk Real Estate Investment Trust will post 4.4537396 earnings per share for the current year.

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. 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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