Boardwalk REIT (TSE:BEI.UN) Stock Passes Above Two Hundred Day Moving Average of $33.78

Shares of Boardwalk REIT (TSE:BEI.UN) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$33.78 and traded as high as C$37.39. Boardwalk REIT shares last traded at C$36.84, with a volume of 93,906 shares trading hands.

A number of equities research analysts recently weighed in on the company. National Bank Financial raised their price target on Boardwalk REIT from C$40.00 to C$42.00 and gave the company an “outperform” rating in a report on Monday, March 1st. Royal Bank of Canada lifted their target price on Boardwalk REIT from C$38.00 to C$43.00 and gave the company an “outperform” rating in a research note on Wednesday, March 3rd. Scotiabank lowered their target price on Boardwalk REIT from C$41.75 to C$41.50 in a research note on Tuesday, March 2nd. CIBC lifted their target price on Boardwalk REIT from C$35.00 to C$40.00 in a research note on Monday, March 1st. Finally, TD Securities lifted their target price on Boardwalk REIT from C$47.00 to C$48.00 and gave the company a “buy” rating in a research note on Monday, March 1st. Five research analysts have rated the stock with a buy rating, Boardwalk REIT presently has a consensus rating of “Buy” and an average price target of C$41.05.

The company has a market capitalization of C$1.88 billion and a P/E ratio of -7.59. The stock has a 50 day moving average price of C$37.44 and a 200 day moving average price of C$33.78. The company has a current ratio of 0.16, a quick ratio of 0.12 and a debt-to-equity ratio of 109.61.

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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