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

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 equities researchers at Royal Bank Of Canada from C$86.00 to C$88.00 in a report issued 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 suggests a potential upside of 23.25% from the stock's current price.

A number of other equities research analysts have also commented on BEI.UN. Desjardins raised their price target on Boardwalk Real Estate Investment Trust from C$80.00 to C$85.00 and gave the stock a "buy" rating in a research report on Thursday. TD Securities raised their price target on Boardwalk Real Estate Investment Trust from C$85.00 to C$87.00 and gave the stock a "buy" rating in a research report on Thursday. CIBC raised their price target on Boardwalk Real Estate Investment Trust from C$80.00 to C$84.00 and gave the stock a "neutral" rating in a research report on Thursday. BMO Capital Markets raised their price target on Boardwalk Real Estate Investment Trust from C$73.00 to C$75.00 in a research report on Monday, May 12th. Finally, National Bankshares raised their price target on Boardwalk Real Estate Investment Trust from C$77.50 to C$82.50 and gave the stock an "outperform" rating in a research report on Thursday. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Boardwalk Real Estate Investment Trust has an average rating of "Moderate Buy" and a consensus price target of C$83.44.

Boardwalk Real Estate Investment Trust Trading Down 0.1%

BEI.UN traded down C$0.05 during midday trading on Thursday, reaching C$71.40. 230,523 shares of the company were exchanged, compared to its average volume of 121,411. The company has a debt-to-equity ratio of 77.35, a quick ratio of 0.04 and a current ratio of 0.23. Boardwalk Real Estate Investment Trust has a one year low of C$59.10 and a one year high of C$91.81. The stock has a market capitalization of C$3.53 billion, a P/E ratio of 5.28, a PEG ratio of 1.24 and a beta of 1.76. The stock's 50-day simple moving average is C$70.33 and its 200 day simple moving average is C$66.35.

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.