Boardwalk REIT (TSE:BEI.UN) Hits New 12-Month High at $69.32

Boardwalk REIT (TSE:BEI.UN) reached a new 52-week high during trading on Friday . The company traded as high as C$69.32 and last traded at C$69.34, with a volume of 38207 shares trading hands. The stock had previously closed at C$68.37.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. BMO Capital Markets increased their price objective on shares of Boardwalk REIT from C$70.00 to C$74.00 in a research note on Monday, August 14th. Cormark boosted their price objective on Boardwalk REIT from C$68.00 to C$72.00 and gave the stock a “buy” rating in a research report on Monday, August 21st. TD Securities lifted their target price on Boardwalk REIT from C$77.00 to C$80.00 and gave the stock a “buy” rating in a research note on Monday, August 14th. Royal Bank of Canada increased their price target on shares of Boardwalk REIT from C$74.00 to C$77.00 and gave the company an “outperform” rating in a research report on Friday, August 11th. Finally, CIBC lifted their price objective on shares of Boardwalk REIT from C$68.00 to C$70.00 in a research report on Monday, August 14th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Boardwalk REIT has a consensus rating of “Moderate Buy” and an average price target of C$73.00.

Boardwalk REIT Price Performance

The firm has a market capitalization of C$3.15 billion, a P/E ratio of 6.12, a price-to-earnings-growth ratio of 1.24 and a beta of 1.65. The company has a debt-to-equity ratio of 92.96, a quick ratio of 0.04 and a current ratio of 0.14. The business has a 50 day simple moving average of C$65.32 and a two-hundred day simple moving average of C$60.99.

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.