Scotiabank Has Lowered Expectations for Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Stock Price

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) had its price target reduced by equities researchers at Scotiabank from C$78.00 to C$75.50 in a report issued on Monday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price target would indicate a potential upside of 15.73% from the company’s current price.

A number of other research firms have also weighed in on BEI.UN. BMO Capital Markets cut their target price on Boardwalk Real Estate Investment Trust from C$77.00 to C$76.00 and set a “market perform” rating on the stock in a research note on Monday. TD Securities reduced their target price on Boardwalk Real Estate Investment Trust from C$88.00 to C$85.00 and set a “buy” rating on the stock in a research note on Friday, December 12th. Raymond James Financial decreased their target price on Boardwalk Real Estate Investment Trust from C$83.00 to C$82.00 and set a “strong-buy” rating for the company in a report on Monday. Desjardins cut their price target on shares of Boardwalk Real Estate Investment Trust from C$79.00 to C$78.00 and set a “hold” rating on the stock in a report on Monday. Finally, National Bank Financial decreased their price objective on shares of Boardwalk Real Estate Investment Trust from C$82.50 to C$81.00 and set an “outperform” rating for the company in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Boardwalk Real Estate Investment Trust currently has a consensus rating of “Moderate Buy” and a consensus price target of C$81.19.

Boardwalk Real Estate Investment Trust Stock Performance

Shares of TSE:BEI.UN traded down C$1.52 during midday trading on Monday, reaching C$65.24. The company had a trading volume of 101,456 shares, compared to its average volume of 106,831. The stock has a market cap of C$3.48 billion, a P/E ratio of 13.34, a P/E/G ratio of 1.24 and a beta of 0.55. The company’s 50 day moving average price is C$66.80 and its 200 day moving average price is C$67.06. The company has a current ratio of 0.23, a quick ratio of 0.04 and a debt-to-equity ratio of 77.35. Boardwalk Real Estate Investment Trust has a 52-week low of C$59.10 and a 52-week high of C$75.37.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) last issued its quarterly earnings results on Thursday, February 19th. The real estate investment trust reported C($1.21) EPS for the quarter. Boardwalk Real Estate Investment Trust had a net margin of 118.55% and a return on equity of 15.71%. The firm had revenue of C$164.85 million for the quarter. As a group, sell-side analysts anticipate that Boardwalk Real Estate Investment Trust will post 4.4537396 EPS for the current fiscal year.

Boardwalk Real Estate Investment Trust Company Profile

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.