Boardwalk REIT (TSE:BEI.UN) was upgraded by investment analysts at TD Securities from a “hold” rating to a “buy” rating in a report issued on Wednesday. The brokerage presently has a C$52.00 target price on the real estate investment trust’s stock, up from their prior target price of C$46.00. TD Securities’ price objective would indicate a potential upside of 34.19% from the stock’s previous close.
A number of other equities research analysts have also recently weighed in on the company. National Bank Financial decreased their price objective on Boardwalk REIT from C$39.00 to C$37.00 and set an “underperform” rating for the company in a research note on Friday, August 18th. Scotiabank decreased their price target on Boardwalk REIT from C$48.00 to C$42.50 and set a “sector perform” rating for the company in a research note on Monday, August 14th. Royal Bank Of Canada decreased their price target on Boardwalk REIT from C$49.00 to C$45.00 and set a “sector perform” rating for the company in a research note on Monday, August 14th. Canaccord Genuity decreased their price target on Boardwalk REIT from C$47.00 to C$45.00 in a research note on Monday, August 14th. Finally, BMO Capital Markets cut Boardwalk REIT from a “market perform” rating to an “underperform” rating and decreased their price target for the company from C$44.50 to C$37.75 in a research note on Friday, August 11th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of C$43.78.
Shares of Boardwalk REIT (BEI.UN) traded down C$2.60 during midday trading on Wednesday, hitting C$38.75. The company had a trading volume of 627,829 shares, compared to its average volume of 95,639. Boardwalk REIT has a 1 year low of C$37.96 and a 1 year high of C$51.18.
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Boardwalk Real Estate Investment Trust (the Trust) is an open-ended real estate investment trust (REIT). The Company is focused on the acquisition, refurbishment, management, ownership and development of multi-family residential communities within Canada. The Trust owns over 200 properties containing approximately 33,770 residential units within the Provinces of Alberta, Saskatchewan, Ontario and Quebec, representing over 30 million net rentable square feet.
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