Boardwalk REIT (BEI.UN) Receives Average Rating of “Hold” from Analysts

Boardwalk REIT (TSE:BEI.UN) has been given a consensus rating of “Hold” by the nine analysts that are presently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is C$48.11.

BEI.UN has been the topic of several analyst reports. National Bank Financial cut their price target on shares of Boardwalk REIT from C$44.00 to C$43.00 and set a “sector perform” rating on the stock in a report on Tuesday, February 12th. Royal Bank of Canada lowered their price target on shares of Boardwalk REIT from C$51.00 to C$49.00 and set a “sector perform” rating for the company in a research report on Monday, February 25th. BMO Capital Markets lowered their price target on shares of Boardwalk REIT from C$49.50 to C$48.00 and set a “hold” rating for the company in a research report on Wednesday, March 6th. Raymond James lowered their price target on shares of Boardwalk REIT from C$52.00 to C$48.00 and set an “outperform” rating for the company in a research report on Tuesday, February 26th. Finally, CIBC decreased their target price on shares of Boardwalk REIT from C$49.00 to C$46.00 in a research report on Monday, February 25th.

BEI.UN traded down C$0.34 on Monday, hitting C$40.26. The company had a trading volume of 68,560 shares, compared to its average volume of 119,513. Boardwalk REIT has a 1-year low of C$37.96 and a 1-year high of C$49.75. The company has a debt-to-equity ratio of 85.23, a quick ratio of 0.15 and a current ratio of 0.22. The firm has a market cap of $1.86 billion and a P/E ratio of 20.43.

In related news, Senior Officer Kelly Kulwant Mahajan sold 1,348 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of C$40.72, for a total transaction of C$54,890.56. Following the sale, the insider now owns 3,121 shares in the company, valued at C$127,087.12. Also, Senior Officer Patrick Dean Burns sold 7,555 shares of the firm’s stock in a transaction on Friday, March 29th. The shares were sold at an average price of C$40.93, for a total transaction of C$309,217.08. Following the sale, the insider now owns 8,215 shares in the company, valued at approximately C$336,230.09. Insiders sold 10,306 shares of company stock worth $421,522 in the last quarter.

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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Analyst Recommendations for Boardwalk REIT (TSE:BEI.UN)

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