Scotiabank Cuts Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Price Target to C$78.50

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) had its price objective reduced by equities research analysts at Scotiabank from C$79.50 to C$78.50 in a research note issued to investors on Monday,BayStreet.CA reports. Scotiabank’s price objective indicates a potential upside of 22.37% from the company’s previous close.

Several other equities research analysts have also commented on the stock. CIBC cut their price target on shares of Boardwalk Real Estate Investment Trust from C$86.00 to C$80.00 in a research note on Monday. TD Securities dropped their price target on Boardwalk Real Estate Investment Trust from C$100.00 to C$95.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. BMO Capital Markets downgraded Boardwalk Real Estate Investment Trust from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from C$84.00 to C$73.00 in a report on Wednesday, December 18th. Royal Bank of Canada decreased their price target on shares of Boardwalk Real Estate Investment Trust from C$98.00 to C$90.00 in a research note on Thursday, November 7th. Finally, Raymond James reduced their target price on shares of Boardwalk Real Estate Investment Trust from C$91.00 to C$82.00 in a report on Monday, January 13th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Boardwalk Real Estate Investment Trust has a consensus rating of “Moderate Buy” and an average price target of C$84.50.

Boardwalk Real Estate Investment Trust Stock Down 0.3 %

Shares of BEI.UN traded down C$0.20 during mid-day trading 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. The company’s 50 day moving average is C$63.41 and its 200 day moving average is C$73.58. The company has a debt-to-equity ratio of 77.35, a current ratio of 0.23 and a quick ratio of 0.04. The stock 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. Boardwalk Real Estate Investment Trust has a 12-month low of C$59.53 and a 12-month high of C$91.81.

Insider Buying and Selling

In related news, Director Scott Andrew Morrison acquired 650 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was purchased at an average cost of C$64.76 per share, for a total transaction of C$42,094.98. 17.92% of the stock is owned by insiders.

About Boardwalk Real Estate Investment Trust

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.