CIBC Raises Boardwalk REIT (TSE:BEI.UN) Price Target to C$41.00

Boardwalk REIT (TSE:BEI.UN) had its price target hoisted by equities research analysts at CIBC from C$40.00 to C$41.00 in a research report issued on Monday, BayStreet.CA reports. CIBC’s price target indicates a potential upside of 8.15% from the stock’s previous close.

Several other equities analysts have also commented on BEI.UN. National Bankshares increased their price objective on shares of Boardwalk REIT from C$44.00 to C$46.50 and gave the company an “outperform” rating in a research report on Monday. National Bank Financial lifted their price objective on shares of Boardwalk REIT from C$40.00 to C$42.00 and gave the stock an “outperform” rating in a research note on Monday, March 1st. Scotiabank cut their target price on Boardwalk REIT from C$41.75 to C$41.50 in a research report on Tuesday, March 2nd. Royal Bank of Canada lifted their price target on Boardwalk REIT from C$43.00 to C$44.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, TD Securities increased their price objective on Boardwalk REIT from C$48.00 to C$50.00 in a report on Monday. Six research analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and a consensus price target of C$41.91.

Boardwalk REIT stock traded up C$0.33 during midday trading on Monday, reaching C$37.91. The company’s stock had a trading volume of 51,865 shares, compared to its average volume of 145,148. The company has a debt-to-equity ratio of 109.29, a current ratio of 0.13 and a quick ratio of 0.09. The stock has a market capitalization of C$1.93 billion and a P/E ratio of -7.84. The stock’s 50-day simple moving average is C$36.97 and its 200-day simple moving average is C$35.17. Boardwalk REIT has a 52-week low of C$25.67 and a 52-week high of C$40.03.

Boardwalk REIT Company Profile

Boardwalk REIT strives to be Canada's friendliest communities and currently owns and operates more than 200 communities with over 33,000 residential units totaling over 28 million net rentable square feet. Boardwalk's principal objectives are to provide its Residents with the best quality communities and superior customer service, while providing Unitholders with sustainable monthly cash distributions, and increase the value of its trust units through selective acquisitions, dispositions, development, and effective management of its residential multi-family communities.

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Analyst Recommendations for Boardwalk REIT (TSE:BEI.UN)

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