Boardwalk REIT (TSE:BEI.UN) Given New C$86.50 Price Target at National Bankshares

Boardwalk REIT (TSE:BEI.UN) had its target price cut by research analysts at National Bankshares from C$87.00 to C$86.50 in a report issued on Wednesday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the real estate investment trust’s stock. National Bankshares’ target price points to a potential upside of 18.25% from the stock’s previous close.

A number of other research firms have also recently issued reports on BEI.UN. Scotiabank cut their target price on shares of Boardwalk REIT from C$82.00 to C$80.25 and set a “sector perform” rating for the company in a research note on Monday, March 25th. Desjardins upped their target price on Boardwalk REIT from C$81.00 to C$86.00 and gave the company a “buy” rating in a research report on Monday, February 26th. CIBC lifted their price target on Boardwalk REIT from C$74.50 to C$81.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. Laurentian boosted their price target on Boardwalk REIT from C$75.00 to C$80.00 in a research note on Monday, January 22nd. Finally, TD Securities increased their price objective on Boardwalk REIT from C$84.00 to C$89.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Boardwalk REIT currently has an average rating of “Moderate Buy” and an average price target of C$84.42.

Boardwalk REIT Stock Performance

BEI.UN traded down C$0.88 during trading hours on Wednesday, reaching C$73.15. The company’s stock had a trading volume of 40,334 shares, compared to its average volume of 122,832. The company has a debt-to-equity ratio of 85.98, a quick ratio of 0.04 and a current ratio of 0.61. The company’s 50-day moving average is C$75.29 and its 200-day moving average is C$71.04. Boardwalk REIT has a 52 week low of C$57.14 and a 52 week high of C$80.10. The firm has a market cap of C$3.61 billion, a PE ratio of 5.03, a price-to-earnings-growth ratio of 1.24 and a beta of 1.71.

About Boardwalk REIT

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.