Royal Bank Of Canada Forecasts Strong Price Appreciation for Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Stock

Key Points

• Royal Bank of Canada raised Boardwalk REIT’s price target to C$84 from C$81 and maintained an “outperform” rating, implying 25.79% potential upside from the stock’s C$66.78 price.
• Analyst sentiment remains positive but mixed: six analysts rate the stock a Buy and four rate it a Hold, producing a “Moderate Buy” consensus and an average target of C$79.75.
• Boardwalk REIT’s portfolio primarily consists of multifamily residential properties in Canada, with most units concentrated in Alberta, especially the Calgary and Edmonton markets.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN - Get Free Report) had its price target upped by equities researchers at Royal Bank Of Canada from C$81.00 to C$84.00 in a report released on Thursday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the real estate investment trust's stock. Royal Bank Of Canada's target price would suggest a potential upside of 25.79% from the stock's current price.

A number of other equities research analysts have also issued reports on BEI.UN. National Bank Financial dropped 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 research report on Monday, April 20th. Raymond James Financial downgraded Boardwalk Real Estate Investment Trust from a "strong-buy" rating to an "outperform" rating and reduced their price objective for the stock from C$82.00 to C$80.00 in a research report on Friday, May 8th. Scotia lowered their price objective on Boardwalk Real Estate Investment Trust from C$75.50 to C$74.50 and set a "sector perform" rating on the stock in a research note on Thursday, May 7th. Desjardins cut their target price on Boardwalk Real Estate Investment Trust from C$78.00 to C$77.00 and set a "buy" rating for the company in a research note on Thursday, May 7th. Finally, TD cut their target price on Boardwalk Real Estate Investment Trust from C$85.00 to C$82.00 and set a "buy" rating for the company in a research note on Thursday, May 7th. Six equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of C$79.75.

Boardwalk Real Estate Investment Trust Price Performance

BEI.UN stock traded down C$0.32 during mid-day trading on Thursday, reaching C$66.78. The company's stock had a trading volume of 124,431 shares, compared to its average volume of 129,824. 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's 50 day moving average is C$65.18 and its two-hundred day moving average is C$65.78. Boardwalk Real Estate Investment Trust has a fifty-two week low of C$60.75 and a fifty-two week high of C$73.96. The stock has a market cap of C$3.47 billion, a PE ratio of 73.38, a P/E/G ratio of 1.24 and a beta of 0.53.

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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