Boardwalk REIT (TSE:BEI.UN) Price Target Raised to C$77.50 at Scotiabank

Boardwalk REIT (TSE:BEI.UN) had its price target increased by equities researchers at Scotiabank from C$76.00 to C$77.50 in a report issued on Friday, BayStreet.CA reports. The firm currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s target price indicates a potential upside of 14.88% from the company’s previous close.

Several other equities analysts have also recently weighed in on BEI.UN. BMO Capital Markets raised their price target on shares of Boardwalk REIT from C$70.00 to C$74.00 in a research note on Monday, August 14th. Cormark raised their target price on shares of Boardwalk REIT from C$68.00 to C$72.00 and gave the company a “buy” rating in a research note on Monday, August 21st. National Bankshares raised their target price on shares of Boardwalk REIT from C$77.00 to C$79.00 in a research note on Monday, August 14th. TD Securities raised their target price on shares of Boardwalk REIT from C$80.00 to C$82.00 and gave the company a “buy” rating in a research note on Thursday. Finally, CIBC raised their target price on shares of Boardwalk REIT from C$70.00 to C$73.50 and gave the company a “neutral” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of C$76.86.

Boardwalk REIT Price Performance

Shares of BEI.UN opened at C$67.46 on Friday. The stock has a market capitalization of C$3.08 billion, a P/E ratio of 6.08, a P/E/G ratio of 1.24 and a beta of 1.69. Boardwalk REIT has a twelve month low of C$47.60 and a twelve month high of C$71.52. The company has a 50 day moving average of C$67.36 and a 200-day moving average of C$64.49. The company has a quick ratio of 0.04, a current ratio of 0.13 and a debt-to-equity ratio of 92.57.

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.