National Bankshares Upgrades Boardwalk Real Estate Investment Trust (TSE:BEI.UN) to Outperform

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) was upgraded by stock analysts at National Bankshares from a “sector perform” rating to an “outperform” rating in a research note issued on Friday,BayStreet.CA reports. The brokerage presently has a C$77.50 price objective on the real estate investment trust’s stock, up from their prior price objective of C$74.00. National Bankshares’ target price points to a potential upside of 9.12% from the company’s current price.

Several other brokerages have also weighed in on BEI.UN. Raymond James Financial set a C$86.00 target price on Boardwalk Real Estate Investment Trust in a research report on Friday. BMO Capital Markets raised their target price on Boardwalk Real Estate Investment Trust from C$73.00 to C$75.00 in a research report on Monday, May 12th. Finally, TD Securities raised their target price on Boardwalk Real Estate Investment Trust from C$84.00 to C$85.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Boardwalk Real Estate Investment Trust presently has a consensus rating of “Moderate Buy” and a consensus price target of C$81.71.

Boardwalk Real Estate Investment Trust Stock Up 0.8%

TSE:BEI.UN opened at C$71.02 on Friday. The stock has a fifty day simple moving average of C$68.52 and a 200-day simple moving average of C$65.48. The company has a current ratio of 0.23, a quick ratio of 0.04 and a debt-to-equity ratio of 77.35. The company has a market cap of C$3.51 billion, a price-to-earnings ratio of 5.26, a price-to-earnings-growth ratio of 1.24 and a beta of 1.76. Boardwalk Real Estate Investment Trust has a twelve month low of C$59.10 and a twelve month high of C$91.81.

About Boardwalk Real Estate Investment Trust

Boardwalk Real Estate Investment Trust, or Boardwalk REIT, is a real estate investment trust engaged in the acquisition, development, and management of residential multifamily communities throughout Canada. Although the company’s cumulative residential property portfolio includes holdings in the provinces of Alberta, Saskatchewan, Ontario, and Quebec, the majority of its total units are located in Alberta.