Boardwalk REIT (TSE:BEI.UN) Receives “Market Perform” Rating from Raymond James

Raymond James reaffirmed their market perform rating on shares of Boardwalk REIT (TSE:BEI.UN) in a report released on Monday morning, BayStreet.CA reports. Raymond James currently has a C$48.00 target price on the real estate investment trust’s stock.

Other equities research analysts have also issued reports about the company. Royal Bank of Canada lifted their price objective on Boardwalk REIT from C$51.00 to C$54.00 and gave the stock an outperform rating in a research report on Monday. TD Securities lifted their price objective on Boardwalk REIT from C$52.00 to C$54.00 and gave the stock a buy rating in a research report on Friday, August 16th. Desjardins lifted their price objective on Boardwalk REIT from C$47.00 to C$48.00 and gave the stock a hold rating in a research report on Thursday, August 22nd. BMO Capital Markets lifted their price objective on Boardwalk REIT from C$48.00 to C$49.25 in a research report on Monday, August 19th. Finally, National Bank Financial lifted their price objective on Boardwalk REIT from C$46.50 to C$48.50 and gave the stock a sector perform rating in a research report on Wednesday, October 16th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of C$50.28.

Shares of BEI.UN stock traded down C$0.48 during trading hours on Monday, reaching C$47.52. The company’s stock had a trading volume of 172,343 shares, compared to its average volume of 119,513. The stock has a market capitalization of $2.21 billion and a P/E ratio of 21.57. Boardwalk REIT has a one year low of C$36.47 and a one year high of C$48.31. The firm’s fifty day simple moving average is C$44.99 and its 200 day simple moving average is C$42.65. The company has a current ratio of 0.10, a quick ratio of 0.04 and a debt-to-equity ratio of 90.13.

In related news, Senior Officer Helen May Mix sold 916 shares of Boardwalk REIT stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of C$44.40, for a total transaction of C$40,670.40. Following the sale, the insider now directly owns 4,430 shares in the company, valued at C$196,692. Also, Senior Officer Roberto Geremia sold 12,000 shares of Boardwalk REIT stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of C$44.00, for a total value of C$528,000.00. Following the sale, the insider now owns 155,929 shares in the company, valued at C$6,860,876. Insiders have sold 14,916 shares of company stock worth $656,930 over the last 90 days.

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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