Boardwalk REIT (TSE:BEI.UN) Upgraded to Outperform by Royal Bank of Canada

Royal Bank of Canada upgraded shares of Boardwalk REIT (TSE:BEI.UN) from a sector perform rating to an outperform rating in a research report sent to investors on Monday, BayStreet.CA reports. Royal Bank of Canada currently has C$51.00 price objective on the real estate investment trust’s stock, up from their prior price objective of C$49.00.

Several other research analysts have also recently weighed in on BEI.UN. CIBC increased their price target on shares of Boardwalk REIT from C$46.00 to C$47.00 in a report on Friday, August 16th. Raymond James reissued an outperform rating and issued a C$48.00 price target on shares of Boardwalk REIT in a report on Friday, August 16th. National Bank Financial increased their price target on shares of Boardwalk REIT from C$45.50 to C$46.50 and gave the company a sector perform rating in a report on Friday, August 16th. BMO Capital Markets increased their price target on shares of Boardwalk REIT from C$48.00 to C$49.25 in a report on Monday. Finally, Canaccord Genuity increased their price target on shares of Boardwalk REIT from C$44.00 to C$46.00 and gave the company a hold rating in a report on Friday, August 16th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Boardwalk REIT has an average rating of Hold and a consensus target price of C$48.86.

Boardwalk REIT stock opened at C$44.99 on Monday. The stock has a market cap of $2.09 billion and a P/E ratio of 20.42. The company has a quick ratio of 0.04, a current ratio of 0.10 and a debt-to-equity ratio of 90.13. Boardwalk REIT has a twelve month low of C$36.47 and a twelve month high of C$51.85. The company’s 50-day moving average price is C$41.72 and its two-hundred day moving average price is C$40.90.

In other news, Senior Officer Lisa Maureen Russell sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of C$39.55, for a total transaction of C$39,550.00. Following the transaction, the insider now directly owns 10,289 shares of the company’s stock, valued at C$406,929.95.

About Boardwalk REIT

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.

Read More: Intrinsic Value and Stock Selection

Analyst Recommendations for Boardwalk REIT (TSE:BEI.UN)

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