Royal Bank Of Canada Has Lowered Expectations for Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Stock Price

Key Points

• Royal Bank of Canada trimmed its price target for Boardwalk REIT from C$82 to C$81 but maintained an outperform rating, implying roughly a 23.2% upside; several other brokers also cut targets, leaving a consensus price target of C$79.70 and an average rating of Moderate Buy.
• Shares traded at C$65.76 (up 0.6%) with a market cap of C$3.43B, P/E of 17.13 and high leverage (debt-to-equity 77.35); the REIT reported C($1.21) EPS for the most recent quarter on C$164.85M revenue while analysts forecast about 4.45 EPS for the year.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN - Get Free Report) had its target price reduced by equities researchers at Royal Bank Of Canada from C$82.00 to C$81.00 in a note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the real estate investment trust's stock. Royal Bank Of Canada's price objective would suggest a potential upside of 23.18% from the company's previous close.

Several other research analysts have also weighed in on the company. BMO Capital Markets lowered their price target on Boardwalk Real Estate Investment Trust from C$77.00 to C$76.00 and set a "market perform" rating on the stock in a research report on Monday, February 23rd. Raymond James Financial lowered their target price on shares of Boardwalk Real Estate Investment Trust from C$83.00 to C$82.00 and set a "strong-buy" rating on the stock in a report on Monday, February 23rd. National Bank Financial dropped their price target on shares of Boardwalk Real Estate Investment Trust from C$81.00 to C$80.00 and set an "outperform" rating on the stock in a research report on Monday, April 20th. Desjardins cut their price target on shares of 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. Finally, 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 on the stock in a research note on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of C$79.70.

Boardwalk Real Estate Investment Trust Stock Up 0.6%

BEI.UN stock traded up C$0.36 during midday trading on Thursday, hitting C$65.76. The company's stock had a trading volume of 125,837 shares, compared to its average volume of 126,855. The company's fifty day moving average price is C$65.37 and its 200 day moving average price is C$65.49. The company has a debt-to-equity ratio of 77.35, a current ratio of 0.23 and a quick ratio of 0.04. Boardwalk Real Estate Investment Trust has a twelve month low of C$60.75 and a twelve month high of C$75.37. The stock has a market capitalization of C$3.43 billion, a P/E ratio of 17.13, a PEG ratio of 1.24 and a beta of 0.40.

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) earnings per share for the quarter. The company had revenue of C$164.85 million during the quarter. Boardwalk Real Estate Investment Trust had a net margin of 118.55% and a return on equity of 15.71%. As a group, equities research analysts predict 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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