Raymond James Financial Forecasts Strong Price Appreciation for Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Stock

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) had its target price raised by equities researchers at Raymond James Financial from C$72.50 to C$73.00 in a research note issued on Thursday, BayStreet reports. The firm presently has an “outperform” rating on the real estate investment trust’s stock. Raymond James Financial‘s target price indicates a potential upside of 16.78% from the stock’s current price.

BEI.UN has been the topic of several other research reports. Scotiabank lowered their price objective on shares of Boardwalk Real Estate Investment Trust from C$74.50 to C$74.00 and set a “sector perform” rating on the stock in a research note on Thursday, July 30th. National Bank Financial cut their price objective on Boardwalk Real Estate Investment Trust from C$81.00 to C$74.25 and set an “outperform” rating on the stock in a report on Wednesday, October 21st. Scotia reduced their price objective on shares of Boardwalk Real Estate Investment Trust from C$74.00 to C$73.50 and set a “sector perform” rating for the company in a research note on Thursday. ATB Cormark Capital Markets decreased their target price on shares of Boardwalk Real Estate Investment Trust from C$80.00 to C$77.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Royal Bank Of Canada dropped their target price on shares of Boardwalk Real Estate Investment Trust from C$84.00 to C$83.00 and set an “outperform” rating on the stock in a research report on Thursday. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$77.47.

Boardwalk Real Estate Investment Trust Stock Down 1.2%

BEI.UN traded down C$0.75 on Thursday, reaching C$62.51. The company’s stock had a trading volume of 141,300 shares, compared to its average volume of 118,994. The company has a debt-to-equity ratio of 77.35, a current ratio of 0.23 and a quick ratio of 0.04. The business’s 50 day moving average is C$61.80 and its 200 day moving average is C$64.57. Boardwalk Real Estate Investment Trust has a 1 year low of C$59.93 and a 1 year high of C$70.12. The stock has a market cap of C$2.83 billion, a price-to-earnings ratio of -73.54, a price-to-earnings-growth ratio of 1.24 and a beta of 0.54.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) last released its quarterly earnings data on Tuesday, November 3rd. The real estate investment trust reported C$0.19 earnings per share (EPS) for the quarter. The business had revenue of C$159.82 million during the quarter. Boardwalk Real Estate Investment Trust had a return on equity of 15.71% and a net margin of 118.55%. As a group, research analysts forecast that Boardwalk Real Estate Investment Trust will post 4.45 EPS for the current fiscal year.

About Boardwalk Real Estate Investment Trust

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.