Boardwalk REIT (TSE:BEI.UN – Get Rating) had its target price decreased by research analysts at Royal Bank of Canada from C$69.00 to C$68.00 in a research report issued to clients and investors on Thursday, BayStreet.CA reports. The firm currently has an “outperform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s price objective points to a potential upside of 42.44% from the company’s previous close.
A number of other analysts also recently commented on the stock. TD Securities dropped their target price on shares of Boardwalk REIT from C$70.00 to C$68.00 and set a “buy” rating on the stock in a report on Thursday. National Bankshares upped their price target on Boardwalk REIT from C$67.00 to C$68.50 in a report on Wednesday, April 27th. Canaccord Genuity Group raised their price objective on Boardwalk REIT from C$58.00 to C$62.50 in a research note on Monday, February 28th. CIBC boosted their target price on Boardwalk REIT from C$57.00 to C$61.00 and gave the stock a “neutral” rating in a research report on Monday, February 28th. Finally, BMO Capital Markets increased their price target on Boardwalk REIT from C$56.25 to C$61.00 in a research report on Tuesday, March 1st. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of C$62.33.
Boardwalk REIT stock traded up C$1.04 during midday trading on Thursday, hitting C$47.74. The company’s stock had a trading volume of 43,497 shares, compared to its average volume of 157,506. Boardwalk REIT has a 12 month low of C$36.03 and a 12 month high of C$61.77. The company has a quick ratio of 0.12, a current ratio of 0.15 and a debt-to-equity ratio of 102.21. The company has a market capitalization of C$2.41 billion and a PE ratio of 4.98. The stock’s 50-day moving average price is C$56.86 and its 200-day moving average price is C$55.51.
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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