National Bank Financial Boosts Boardwalk REIT (TSE:BEI.UN) Price Target to C$46.50

Boardwalk REIT (TSE:BEI.UN) had its target price upped by National Bank Financial from C$45.50 to C$46.50 in a report released on Friday, BayStreet.CA reports. The firm currently has a sector perform rating on the real estate investment trust’s stock.

Other equities research analysts have also issued research reports about the stock. Canaccord Genuity increased their price objective on shares of Boardwalk REIT from C$44.00 to C$46.00 and gave the stock a hold rating in a research note on Friday. TD Securities increased their price objective on shares of Boardwalk REIT from C$52.00 to C$54.00 and gave the stock a buy rating in a research note on Friday. CIBC increased their price objective on shares of Boardwalk REIT from C$46.00 to C$47.00 in a research note on Friday. Finally, Raymond James reiterated an outperform rating and set a C$48.00 price objective on shares of Boardwalk REIT in a research note on Friday. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Boardwalk REIT presently has an average rating of Hold and a consensus price target of C$48.97.

BEI.UN opened at C$45.32 on Friday. The firm has a market cap of $2.02 billion and a price-to-earnings ratio of 24.89. Boardwalk REIT has a fifty-two week low of C$36.47 and a fifty-two week high of C$52.43. The company’s 50-day moving average price is C$41.45 and its 200 day moving average price is C$40.83. The company has a quick ratio of 0.05, a current ratio of 0.09 and a debt-to-equity ratio of 91.58.

In other Boardwalk REIT 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 value of C$39,550.00. Following the sale, the insider now owns 10,289 shares in the company, 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.

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