CIBC Trims Boardwalk REIT (TSE:BEI.UN) Target Price to C$60.00

Boardwalk REIT (TSE:BEI.UNGet Rating) had its price target dropped by research analysts at CIBC from C$61.00 to C$60.00 in a research report issued on Thursday, BayStreet.CA reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. CIBC’s price target indicates a potential upside of 25.68% from the stock’s previous close.

Several other equities analysts also recently issued reports on BEI.UN. Royal Bank of Canada cut their price objective on shares of Boardwalk REIT from C$69.00 to C$68.00 and set an “outperform” rating on the stock in a report on Thursday. TD Securities cut their price target on shares of Boardwalk REIT from C$70.00 to C$68.00 and set a “buy” rating on the stock in a research note on Thursday. Canaccord Genuity Group lifted their price objective on shares of Boardwalk REIT from C$58.00 to C$62.50 in a research note on Monday, February 28th. BMO Capital Markets boosted their price objective on shares of Boardwalk REIT from C$56.25 to C$61.00 in a report on Tuesday, March 1st. Finally, Scotiabank reduced their target price on Boardwalk REIT from C$61.00 to C$59.00 in a research note on Thursday. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of C$62.33.

TSE:BEI.UN traded up C$1.04 during mid-day trading on Thursday, hitting C$47.74. 43,497 shares of the company’s stock traded hands, compared to its average volume of 157,506. The company has a fifty day moving average of C$56.86 and a 200 day moving average of C$55.51. The company has a debt-to-equity ratio of 102.21, a quick ratio of 0.12 and a current ratio of 0.15. Boardwalk REIT has a twelve month low of C$36.03 and a twelve month high of C$61.77. The company has a market capitalization of C$2.41 billion and a P/E ratio of 4.98.

Boardwalk REIT Company Profile (Get Rating)

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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