Boardwalk REIT (TSE:BEI.UN) Share Price Crosses Above 200-Day Moving Average of $42.02

Boardwalk REIT (TSE:BEI.UN)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $42.02 and traded as high as $45.00. Boardwalk REIT shares last traded at $44.40, with a volume of 24,372 shares changing hands.

A number of brokerages have recently issued reports on BEI.UN. TD Securities upped their price target on Boardwalk REIT from C$52.00 to C$54.00 and gave the company a “buy” rating in a report on Friday, August 16th. Royal Bank of Canada raised Boardwalk REIT from a “sector perform” rating to an “outperform” rating and upped their price target for the company from C$49.00 to C$51.00 in a report on Monday, August 19th. Desjardins upped their price target on Boardwalk REIT from C$47.00 to C$48.00 and gave the company a “hold” rating in a report on Thursday, August 22nd. BMO Capital Markets upped their price target on Boardwalk REIT from C$48.00 to C$49.25 in a report on Monday, August 19th. Finally, Canaccord Genuity upped their price target on 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 given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of C$49.08.

The stock has a market capitalization of $2.05 billion and a P/E ratio of 20.36. The company has a quick ratio of 0.04, a current ratio of 0.10 and a debt-to-equity ratio of 90.13. The business has a fifty day moving average price of C$44.73 and a 200-day moving average price of C$42.06.

In other Boardwalk REIT news, Senior Officer Helen May Mix sold 916 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of C$44.40, for a total value of C$40,670.40. Following the transaction, the insider now owns 4,430 shares of the company’s stock, valued at C$196,692. Also, Senior Officer Roberto Geremia sold 2,000 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of C$44.13, for a total value of C$88,260.00. Following the completion of the transaction, the insider now directly owns 130,929 shares in the company, valued at approximately C$5,777,896.77. Over the last ninety days, insiders have sold 14,916 shares of company stock worth $656,930.

About Boardwalk REIT (TSE:BEI.UN)

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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