Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Downgraded by BMO Capital Markets to “Market Perform”

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) was downgraded by stock analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research note issued on Wednesday,BayStreet.CA reports. They presently have a C$73.00 price target on the real estate investment trust’s stock, down from their previous price target of C$84.00. BMO Capital Markets’ price objective suggests a potential upside of 12.12% from the company’s previous close.

A number of other equities research analysts also recently commented on BEI.UN. Scotiabank reduced their price objective on shares of Boardwalk Real Estate Investment Trust from C$84.75 to C$81.75 in a research report on Thursday, November 7th. National Bankshares decreased their price target on Boardwalk Real Estate Investment Trust from C$96.00 to C$90.00 in a research note on Thursday, November 7th. Raymond James reduced their target price on Boardwalk Real Estate Investment Trust from C$98.00 to C$91.00 in a report on Thursday, November 7th. TD Securities lowered their price target on shares of Boardwalk Real Estate Investment Trust from C$100.00 to C$95.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Finally, Royal Bank of Canada decreased their price objective on shares of Boardwalk Real Estate Investment Trust from C$98.00 to C$90.00 in a report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$85.88.

Boardwalk Real Estate Investment Trust Trading Down 3.4 %

Shares of BEI.UN traded down C$2.27 during midday trading on Wednesday, hitting C$65.11. 267,416 shares of the stock were exchanged, compared to its average volume of 125,702. Boardwalk Real Estate Investment Trust has a 52-week low of C$64.34 and a 52-week high of C$91.81. The stock has a fifty day simple moving average of C$73.05 and a 200 day simple moving average of C$76.30. The firm has a market cap of C$3.22 billion, a P/E ratio of 4.82, a P/E/G ratio of 1.24 and a beta of 1.76. The company has a debt-to-equity ratio of 77.35, a quick ratio of 0.04 and a current ratio of 0.23.

Insider Transactions at Boardwalk Real Estate Investment Trust

In related news, Director Scott Andrew Morrison purchased 850 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were purchased at an average cost of C$69.75 per share, with a total value of C$59,288.01. Corporate insiders own 17.92% of the company’s stock.

About Boardwalk Real Estate Investment Trust

Boardwalk REIT strives to be Canada's friendliest community provider and is a leading owner/operator of multi-family rental communities. Providing homes in more than 200 communities, with over 34,000 residential suites totaling over 29 million net rentable square feet, Boardwalk has a proven long-term track record of building better communities, where love always lives.