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

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

A number of other analysts also recently weighed in on BEI.UN. Cormark lifted their price target on Boardwalk REIT from C$72.00 to C$86.00 in a research note on Thursday, March 14th. Desjardins lifted their price target on 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. National Bankshares lifted their price target on Boardwalk REIT from C$86.50 to C$88.00 in a research note on Thursday. Laurentian boosted their target price on Boardwalk REIT from C$75.00 to C$80.00 in a research report on Monday, January 22nd. Finally, TD Securities decreased their target price on Boardwalk REIT from C$92.00 to C$90.00 in a research report on Wednesday, April 24th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$84.81.

Boardwalk REIT Stock Performance

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

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.