Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Price Target Raised to C$73.00

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) had its price target upped by research analysts at Raymond James Financial from C$72.50 to C$73.00 in a report released on Thursday, BayStreet reports. The brokerage currently has an “outperform” rating on the real estate investment trust’s stock. Raymond James Financial‘s target price would suggest a potential upside of 16.58% from the company’s current price.

Several other equities research analysts have also recently issued reports on BEI.UN. Royal Bank Of Canada reduced their target price on Boardwalk Real Estate Investment Trust from C$84.00 to C$83.00 and set an “outperform” rating on the stock in a report on Thursday. Scotia dropped their price target on Boardwalk Real Estate Investment Trust from C$74.00 to C$73.50 and set a “sector perform” rating for the company in a research note on Thursday. Scotiabank dropped their price target on Boardwalk Real Estate Investment Trust from C$74.50 to C$74.00 and set a “sector perform” rating for the company in a research note on Thursday, July 30th. ATB Cormark Capital Markets cut their price target on Boardwalk Real Estate Investment Trust from C$80.00 to C$77.00 and set an “outperform” rating for the company in a report on Thursday. Finally, National Bank Financial reduced their price objective on Boardwalk Real Estate Investment Trust from C$81.00 to C$74.25 and set an “outperform” rating on the stock in a research note on Wednesday, October 21st. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Boardwalk Real Estate Investment Trust has a consensus rating of “Moderate Buy” and an average target price of C$77.47.

Boardwalk Real Estate Investment Trust Price Performance

TSE BEI.UN traded down C$0.16 on Thursday, reaching C$62.62. The company had a trading volume of 97,521 shares, compared to its average volume of 118,512. 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 stock has a market capitalization of C$3.27 billion, a PE ratio of -73.67, a price-to-earnings-growth ratio of 1.24 and a beta of 0.56. The firm’s 50 day moving average price is C$61.83 and its 200 day moving average price is C$64.63. Boardwalk Real Estate Investment Trust has a 12 month low of C$59.93 and a 12 month high of C$70.12.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) last announced its quarterly earnings results on Tuesday, November 3rd. The real estate investment trust reported C$0.19 EPS for the quarter. Boardwalk Real Estate Investment Trust had a net margin of 118.55% and a return on equity of 15.71%. The business had revenue of C$159.82 million for the quarter. As a group, equities analysts predict that Boardwalk Real Estate Investment Trust will post 4.45 earnings per share 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.