Scotia Has Lowered Expectations for Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Stock Price

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) had its price objective cut by stock analysts at Scotia from C$74.00 to C$73.50 in a report issued on Thursday, BayStreet reports. The brokerage currently has a “sector perform” rating on the real estate investment trust’s stock. Scotia‘s target price would suggest a potential upside of 17.58% from the stock’s previous close.

Several other analysts have also recently weighed in on BEI.UN. Scotiabank reduced their price objective on shares of Boardwalk Real Estate Investment Trust from C$74.50 to C$74.00 and set a “sector perform” rating on the stock in a research note on Thursday, July 30th. National Bank Financial dropped their price target on shares of Boardwalk Real Estate Investment Trust from C$81.00 to C$74.25 and set an “outperform” rating on the stock in a research report on Wednesday, October 21st. Finally, Royal Bank Of Canada increased their price objective on shares of Boardwalk Real Estate Investment Trust from C$81.00 to C$84.00 and gave the stock an “outperform” rating in a research report on Thursday, July 30th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$77.47.

Boardwalk Real Estate Investment Trust Stock Performance

Shares of BEI.UN traded down C$0.75 during mid-day trading on Thursday, reaching C$62.51. The company’s stock had a trading volume of 141,300 shares, compared to its average volume of 118,994. The business has a 50-day simple moving average of C$61.80 and a two-hundred day simple moving average of C$64.57. The company has a current ratio of 0.23, a quick ratio of 0.04 and a debt-to-equity ratio of 77.35. The stock has a market cap of C$2.83 billion, a P/E ratio of -73.54, a PEG ratio of 1.24 and a beta of 0.54. Boardwalk Real Estate Investment Trust has a 1-year low of C$59.93 and a 1-year high of C$70.12.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) last announced its earnings results on Tuesday, November 3rd. The real estate investment trust reported C$0.19 earnings per share (EPS) for the quarter. The company had revenue of C$159.82 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 anticipate that Boardwalk Real Estate Investment Trust will post 4.45 earnings per share for the current fiscal year.

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. The submarkets around the cities of Calgary and Edmonton, specifically, account for the majority of Boardwalk REIT’s total residential suites.