Boardwalk REIT (TSE:BEI.UN) Hits New 12-Month High at $57.08

Shares of Boardwalk REIT (TSE:BEI.UN) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$57.08 and last traded at C$57.04, with a volume of 26286 shares. The stock had previously closed at C$56.45.

A number of equities analysts recently issued reports on the stock. Royal Bank of Canada boosted their target price on shares of Boardwalk REIT from C$54.00 to C$63.00 and gave the stock an “outperform” rating in a research report on Monday, November 15th. BMO Capital Markets boosted their target price on shares of Boardwalk REIT from C$51.00 to C$57.75 in a research report on Monday, November 15th. TD Securities boosted their price target on shares of Boardwalk REIT from C$60.00 to C$68.00 and gave the company an “action list buy” rating in a report on Monday, November 15th. Scotiabank boosted their price target on shares of Boardwalk REIT from C$51.25 to C$59.25 and gave the company a “sector perform” rating in a report on Tuesday, November 16th. Finally, Canaccord Genuity boosted their price target on shares of Boardwalk REIT from C$50.00 to C$58.00 in a report on Monday, November 15th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Boardwalk REIT has an average rating of “Buy” and an average target price of C$60.31.

The company’s 50-day moving average is C$50.97 and its 200-day moving average is C$45.34. The firm has a market cap of C$2.91 billion and a price-to-earnings ratio of 20.88. The company has a debt-to-equity ratio of 103.84, a quick ratio of 0.08 and a current ratio of 0.12.

Boardwalk REIT Company Profile (TSE:BEI.UN)

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.

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