CIBC Has Lowered Expectations for Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Stock Price

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) had its target price reduced by stock analysts at CIBC from C$86.00 to C$80.00 in a note issued to investors on Monday,BayStreet.CA reports. CIBC’s price objective would suggest a potential upside of 24.71% from the stock’s current price.

BEI.UN has been the topic of a number of other reports. Scotiabank reduced their price target on shares of Boardwalk Real Estate Investment Trust from C$84.75 to C$81.75 in a research report on Thursday, November 7th. Raymond James cut their price objective on Boardwalk Real Estate Investment Trust from C$91.00 to C$82.00 in a research report on Monday, January 13th. Royal Bank of Canada cut their price target on Boardwalk Real Estate Investment Trust from C$98.00 to C$90.00 in a report on Thursday, November 7th. BMO Capital Markets lowered shares of Boardwalk Real Estate Investment Trust from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from C$84.00 to C$73.00 in a report on Wednesday, December 18th. Finally, TD Securities dropped their target price 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 research note on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$84.50.

Boardwalk Real Estate Investment Trust Price Performance

TSE BEI.UN traded down C$0.20 on Monday, reaching C$64.15. The company’s stock had a trading volume of 52,609 shares, compared to its average volume of 148,846. Boardwalk Real Estate Investment Trust has a 52 week low of C$59.53 and a 52 week high of C$91.81. The company has a current ratio of 0.23, a quick ratio of 0.04 and a debt-to-equity ratio of 77.35. The firm has a market cap of C$3.17 billion, a PE ratio of 4.75, a price-to-earnings-growth ratio of 1.24 and a beta of 1.76. The business has a 50-day moving average price of C$63.41 and a 200 day moving average price of C$73.58.

Insiders Place Their Bets

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