Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Rating Lowered to Market Perform at BMO Capital Markets

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) was downgraded by analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research note issued to investors on Wednesday,BayStreet.CA reports. They currently have a C$73.00 target price on the real estate investment trust’s stock, down from their previous target price of C$84.00. BMO Capital Markets’ target price points to a potential upside of 16.50% from the company’s current price.

Several other equities analysts also recently issued reports on the stock. TD Securities reduced their price target on shares of Boardwalk Real Estate Investment Trust from C$100.00 to C$95.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Raymond James decreased their target price on shares of Boardwalk Real Estate Investment Trust from C$98.00 to C$91.00 in a research report on Thursday, November 7th. National Bankshares cut their price target on Boardwalk Real Estate Investment Trust from C$96.00 to C$90.00 in a report on Thursday, November 7th. Royal Bank of Canada reduced their price objective on Boardwalk Real Estate Investment Trust from C$98.00 to C$90.00 in a research report on Thursday, November 7th. Finally, Scotiabank lowered their target price on Boardwalk Real Estate Investment Trust from C$84.75 to C$81.75 in a research report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$85.88.

Boardwalk Real Estate Investment Trust Trading Down 1.7 %

TSE:BEI.UN opened at C$62.66 on Wednesday. The firm has a market capitalization of C$3.10 billion, a P/E ratio of 4.64, a P/E/G ratio of 1.24 and a beta of 1.76. The business has a 50 day simple moving average of C$72.32 and a 200 day simple moving average of C$76.17. The company has a debt-to-equity ratio of 77.35, a current ratio of 0.23 and a quick ratio of 0.04. Boardwalk Real Estate Investment Trust has a 12-month low of C$62.45 and a 12-month high of C$91.81.

Insider Activity at Boardwalk Real Estate Investment Trust

In related news, Director Scott Andrew Morrison purchased 650 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were bought at an average price of C$64.76 per share, with a total value of C$42,094.98. Company insiders own 17.92% of the company’s stock.

Boardwalk Real Estate Investment Trust Company Profile

Boardwalk REIT strives to be Canada's friendliest community provider and is a leading owner/operator of multi-family rental communities. Providing homes in more than 200 communities, with over 34,000 residential suites totaling over 29 million net rentable square feet, Boardwalk has a proven long-term track record of building better communities, where love always lives.