Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Price Target Raised to C$88.00

Key Points

• The Royal Bank of Canada has raised its target price for Boardwalk Real Estate Investment Trust (TSE:BEI.UN) from C$86.00 to C$88.00, suggesting a potential upside of 22.61%.
• Other analysts, including the National Bankshares and TD Securities, have also increased their price targets for Boardwalk REIT, indicating strong market confidence with multiple "buy" and "outperform" ratings.
• Despite the positive forecasts, Boardwalk REIT's stock dipped 2.2% to C$71.77, with a market cap of C$3.55 billion and a 1-year trading range between C$59.10 and C$91.81.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN - Get Free Report) had its target price lifted by analysts at Royal Bank Of Canada from C$86.00 to C$88.00 in a report issued on Thursday,BayStreet.CA reports. The firm presently has an "outperform" rating on the real estate investment trust's stock. Royal Bank Of Canada's target price suggests a potential upside of 23.25% from the stock's previous close.

Several other brokerages have also recently commented on BEI.UN. BMO Capital Markets raised their target price on shares of Boardwalk Real Estate Investment Trust from C$73.00 to C$75.00 in a report on Monday, May 12th. Desjardins lifted their price objective on shares of Boardwalk Real Estate Investment Trust from C$80.00 to C$85.00 and gave the company a "buy" rating in a research note on Thursday. CIBC lifted their price objective on shares of Boardwalk Real Estate Investment Trust from C$80.00 to C$84.00 and gave the company a "neutral" rating in a research note on Thursday. TD Securities lifted their price objective on shares of Boardwalk Real Estate Investment Trust from C$85.00 to C$87.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Raymond James Financial lifted their price objective on shares of Boardwalk Real Estate Investment Trust from C$86.00 to C$87.50 and gave the company an "outperform" rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of C$83.44.

Boardwalk Real Estate Investment Trust Stock Performance

Boardwalk Real Estate Investment Trust stock traded down C$0.05 during trading hours on Thursday, hitting C$71.40. The company had a trading volume of 230,523 shares, compared to its average volume of 121,411. The firm has a market cap of C$3.53 billion, a PE ratio of 5.28, a PEG ratio of 1.24 and a beta of 1.76. 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 one year low of C$59.10 and a one year high of C$91.81. The firm has a 50-day moving average of C$70.33 and a 200 day moving average of C$66.42.

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.