Scotiabank Cuts Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Price Target to C$74.00

Key Points

• Scotiabank lowered Boardwalk REIT’s price target to C$74.00 from C$74.50 while maintaining a “sector perform” rating, implying 10.81% potential upside from the prior close.
• Analyst sentiment remains positive overall, with six Buy and four Hold ratings producing a “Moderate Buy” consensus and an average price target of C$79.75.
• Boardwalk REIT shares closed at C$66.78, with a market capitalization of approximately C$3.47 billion and a 52-week trading range of C$60.75 to C$73.96.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN - Get Free Report) had its target price dropped by research analysts at Scotiabank from C$74.50 to C$74.00 in a note issued to investors on Thursday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the real estate investment trust's stock. Scotiabank's price target indicates a potential upside of 10.81% from the stock's previous close.

A number of other research analysts have also recently weighed in on BEI.UN. Royal Bank Of Canada lifted their target price on shares of Boardwalk Real Estate Investment Trust from C$81.00 to C$84.00 and gave the company an "outperform" rating in a research note on Thursday. National Bank Financial upped their price objective on Boardwalk Real Estate Investment Trust from C$79.00 to C$81.00 and gave the stock an "outperform" rating in a research note on Thursday. 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 report on Thursday, May 7th. Desjardins lowered their price target on Boardwalk Real Estate Investment Trust from C$78.00 to C$77.00 and set a "buy" rating on the stock in a report on Thursday, May 7th. Finally, Raymond James Financial downgraded Boardwalk Real Estate Investment Trust from a "strong-buy" rating to an "outperform" rating and dropped their price target for the stock from C$82.00 to C$80.00 in a research note on Friday, May 8th. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of C$79.75.

Boardwalk Real Estate Investment Trust Stock Performance

BEI.UN traded down C$0.32 during midday trading on Thursday, reaching C$66.78. The company had a trading volume of 124,431 shares, compared to its average volume of 129,824. The company has a quick ratio of 0.04, a current ratio of 0.23 and a debt-to-equity ratio of 77.35. The business has a 50-day moving average of C$65.18 and a two-hundred day moving average of C$65.78. The company has a market cap of C$3.47 billion, a P/E ratio of 73.38, a P/E/G ratio of 1.24 and a beta of 0.53. Boardwalk Real Estate Investment Trust has a 1 year low of C$60.75 and a 1 year high of C$73.96.

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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