Boardwalk REIT (TSE:BEI.UN) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Boardwalk REIT (TSE:BEI.UN) have been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is C$84.42.

BEI.UN has been the topic of several research analyst reports. Royal Bank of Canada increased their target price on shares of Boardwalk REIT from C$82.00 to C$86.00 and gave the stock an “outperform” rating in a research note on Monday, February 26th. CIBC increased their price objective on shares of Boardwalk REIT from C$74.50 to C$81.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. TD Securities decreased their target price on Boardwalk REIT from C$92.00 to C$90.00 in a research report on Wednesday. Cormark lifted their price target on shares of Boardwalk REIT from C$72.00 to C$86.00 in a research report on Thursday, March 14th. Finally, Scotiabank lowered 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 report on Monday, March 25th.

Boardwalk REIT Price Performance

Shares of BEI.UN opened at C$73.09 on Friday. The firm has a market cap of C$3.61 billion, a PE ratio of 5.03, a price-to-earnings-growth ratio of 1.24 and a beta of 1.71. Boardwalk REIT has a 52-week low of C$57.14 and a 52-week high of C$80.10. The company has a debt-to-equity ratio of 85.98, a quick ratio of 0.04 and a current ratio of 0.61. The business’s 50 day moving average price is C$75.33 and its two-hundred day moving average price is C$71.12.

Boardwalk REIT Company Profile

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.