Royal Bank of Canada Boosts Boardwalk REIT (TSE:BEI.UN) Price Target to C$88.00

Boardwalk REIT (TSE:BEI.UN) had its price target boosted by investment analysts at Royal Bank of Canada from C$86.00 to C$88.00 in a research report issued on Thursday, BayStreet.CA reports. Royal Bank of Canada’s price target suggests a potential upside of 20.27% from the stock’s current price.

Several other research analysts have also recently commented on BEI.UN. TD Securities lowered their target price on shares of Boardwalk REIT from C$92.00 to C$90.00 in a report on Wednesday, April 24th. Desjardins lifted their price objective on shares of Boardwalk REIT from C$81.00 to C$86.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Scotiabank decreased their price objective on shares of Boardwalk REIT from C$82.00 to C$80.25 and set a “sector perform” rating on the stock in a research note on Monday, March 25th. CIBC boosted their target price on shares of Boardwalk REIT from C$74.50 to C$81.00 and gave the stock a “neutral” rating in a research note on Monday, February 26th. Finally, Cormark lifted their price target on shares of Boardwalk REIT from C$72.00 to C$86.00 in a report on Thursday, March 14th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Boardwalk REIT has a consensus rating of “Moderate Buy” and a consensus target price of C$84.81.

Boardwalk REIT Stock Performance

Shares of BEI.UN traded up C$0.42 during mid-day trading on Thursday, hitting C$73.17. 63,112 shares of the company’s stock were exchanged, compared to its average volume of 121,583. Boardwalk REIT has a 52 week low of C$59.02 and a 52 week high of C$80.10. The stock’s 50-day simple moving average is C$74.82 and its 200-day simple moving average is C$71.40. The firm has a market cap of C$3.61 billion, a price-to-earnings ratio of 5.03, a price-to-earnings-growth ratio of 1.24 and a beta of 1.72. The company has a quick ratio of 0.04, a current ratio of 0.61 and a debt-to-equity ratio of 85.98.

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.