Raymond James Financial Issues Pessimistic Forecast for Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Stock Price

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) had its price target lowered by analysts at Raymond James Financial from C$83.00 to C$82.00 in a research note issued on Monday,BayStreet.CA reports. The brokerage presently has a “strong-buy” rating on the real estate investment trust’s stock. Raymond James Financial’s price objective indicates a potential upside of 25.69% from the stock’s previous close.

A number of other brokerages have also recently commented on BEI.UN. Desjardins dropped their price target on Boardwalk Real Estate Investment Trust from C$79.00 to C$78.00 and set a “hold” rating on the stock in a research report on Monday. TD Securities lowered their price objective on Boardwalk Real Estate Investment Trust from C$88.00 to C$85.00 and set a “buy” rating on the stock in a research report on Friday, December 12th. BMO Capital Markets cut their target price on shares of Boardwalk Real Estate Investment Trust from C$77.00 to C$76.00 and set a “market perform” rating for the company in a research note on Monday. Finally, National Bank Financial cut their price target on Boardwalk Real Estate Investment Trust from C$82.50 to C$81.00 and set an “outperform” rating for the company in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Boardwalk Real Estate Investment Trust presently has a consensus rating of “Moderate Buy” and a consensus price target of C$81.19.

Boardwalk Real Estate Investment Trust Trading Down 2.3%

Shares of Boardwalk Real Estate Investment Trust stock traded down C$1.52 on Monday, hitting C$65.24. The stock had a trading volume of 101,456 shares, compared to its average volume of 106,831. The stock has a market cap of C$3.48 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 1.24 and a beta of 0.55. The stock’s 50-day simple moving average is C$66.80 and its two-hundred day simple moving average is C$67.06. The company has a quick ratio of 0.04, a current ratio of 0.23 and a debt-to-equity ratio of 77.35. Boardwalk Real Estate Investment Trust has a one year low of C$59.10 and a one year high of C$75.37.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) last announced its quarterly earnings results on Thursday, February 19th. The real estate investment trust reported C($1.21) earnings per share (EPS) for the quarter. The business had revenue of C$164.85 million for the quarter. Boardwalk Real Estate Investment Trust had a net margin of 118.55% and a return on equity of 15.71%. As a group, sell-side analysts predict that Boardwalk Real Estate Investment Trust will post 4.4537396 EPS for the current year.

About Boardwalk Real Estate Investment Trust

Boardwalk Real Estate Investment Trust, or Boardwalk REIT, is a real estate investment trust engaged in the acquisition, development, and management of residential multifamily communities throughout Canada. Although the company’s cumulative residential property portfolio includes holdings in the provinces of Alberta, Saskatchewan, Ontario, and Quebec, the majority of its total units are located in Alberta. The submarkets around the cities of Calgary and Edmonton, specifically, account for the majority of Boardwalk REIT’s total residential suites.