Raymond James Financial Upgrades Boardwalk Real Estate Investment Trust (TSE:BEI.UN) to “Strong-Buy”

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) was upgraded by equities research analysts at Raymond James Financial from an “outperform” rating to a “strong-buy” rating in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has a C$83.00 price objective on the real estate investment trust’s stock, up from their previous price objective of C$80.00. Raymond James Financial’s price target points to a potential upside of 19.82% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the company. National Bankshares increased their target price on Boardwalk Real Estate Investment Trust from C$82.50 to C$85.00 and gave the stock an “outperform” rating in a report on Wednesday, October 8th. TD Securities reduced their price target on Boardwalk Real Estate Investment Trust from C$88.00 to C$85.00 and set a “buy” rating for the company in a report on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of C$82.94.

Boardwalk Real Estate Investment Trust Trading Up 0.9%

Shares of BEI.UN opened at C$69.27 on Wednesday. Boardwalk Real Estate Investment Trust has a 1 year low of C$59.10 and a 1 year high of C$75.37. 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 stock has a 50 day simple moving average of C$64.52 and a 200-day simple moving average of C$67.72. The stock has a market cap of C$3.69 billion, a PE ratio of 14.17, a PEG ratio of 1.24 and a beta of 0.67.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) last issued its quarterly earnings results on Wednesday, November 5th. The real estate investment trust reported C$0.66 earnings per share (EPS) for the quarter. The business had revenue of C$160.77 million for the quarter. Boardwalk Real Estate Investment Trust had a net margin of 118.55% and a return on equity of 15.71%. On average, sell-side analysts predict that Boardwalk Real Estate Investment Trust will post 4.4537396 EPS for the current fiscal year.

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.