Shares of Boardwalk REIT (TSE:BEI.UN) have received an average recommendation of “Hold” from the eight brokerages that are presently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is C$50.66.
BEI.UN has been the subject of several research analyst reports. CIBC increased their price objective on shares of Boardwalk REIT from C$46.00 to C$47.00 in a research report on Friday, August 16th. Raymond James reissued a “market perform” rating and set a C$48.00 target price on shares of Boardwalk REIT in a research report on Monday, November 18th. BMO Capital Markets boosted their target price on shares of Boardwalk REIT from C$49.25 to C$52.25 in a research report on Tuesday, November 26th. Royal Bank of Canada upped their price target on shares of Boardwalk REIT from C$51.00 to C$54.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. Finally, Desjardins raised their price target on shares of Boardwalk REIT from C$47.00 to C$48.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd.
In related news, Senior Officer Roberto Geremia sold 2,000 shares of Boardwalk REIT stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of C$44.13, for a total transaction of C$88,260.00. Following the completion of the sale, the insider now owns 130,929 shares of the company’s stock, valued at C$5,777,896.77.
Boardwalk REIT Company Profile
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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