Scotiabank Issues Pessimistic Forecast for Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Stock Price

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) had its price objective decreased by stock analysts at Scotiabank from C$74.50 to C$74.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s target price would suggest a potential upside of 10.81% from the company’s previous close.

Several other research analysts have also commented on the stock. Raymond James Financial lowered shares of Boardwalk Real Estate Investment Trust from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the stock from C$82.00 to C$80.00 in a research note on Friday, May 8th. TD lowered their target price on shares of Boardwalk Real Estate Investment Trust from C$85.00 to C$82.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Scotia dropped their price target on shares of Boardwalk Real Estate Investment Trust from C$75.50 to C$74.50 and set a “sector perform” rating for the company in a research note on Thursday, May 7th. Royal Bank Of Canada lifted their price target on shares of Boardwalk Real Estate Investment Trust from C$81.00 to C$84.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, National Bank Financial upped their price target on shares of Boardwalk Real Estate Investment Trust from C$79.00 to C$81.00 and gave the company an “outperform” rating in a report on Thursday. Six equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Boardwalk Real Estate Investment Trust currently has a consensus rating of “Moderate Buy” and a consensus price target of C$79.75.

Boardwalk Real Estate Investment Trust Trading Down 0.5%

Shares of Boardwalk Real Estate Investment Trust stock traded down C$0.32 on Thursday, reaching C$66.78. The company had a trading volume of 124,431 shares, compared to its average volume of 129,824. The firm has a market cap of C$3.47 billion, a price-to-earnings ratio of 73.38, a P/E/G ratio of 1.24 and a beta of 0.53. The company has a debt-to-equity ratio of 77.35, a current ratio of 0.23 and a quick ratio of 0.04. The firm’s 50-day moving average price is C$65.18 and its two-hundred day moving average price is C$65.78. Boardwalk Real Estate Investment Trust has a 1 year low of C$60.75 and a 1 year high of C$73.96.

Boardwalk Real Estate Investment Trust Company Profile

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. The submarkets around the cities of Calgary and Edmonton, specifically, account for the majority of Boardwalk REIT’s total residential suites.