Scotiabank 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 decreased by Scotiabank from C$78.00 to C$75.50 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price objective suggests a potential upside of 15.73% from the company’s previous close.

BEI.UN has been the subject of several other research reports. National Bank Financial dropped their target price on Boardwalk Real Estate Investment Trust from C$82.50 to C$81.00 and set an “outperform” rating for the company in a research report on Monday. Desjardins dropped their target price 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. BMO Capital Markets reduced their price objective 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. Raymond James Financial reduced their target price on Boardwalk Real Estate Investment Trust from C$83.00 to C$82.00 and set a “strong-buy” rating for the company in a research note on Monday. Finally, TD Securities decreased their price objective on Boardwalk Real Estate Investment Trust from C$88.00 to C$85.00 and set a “buy” rating for the company in a report on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$81.19.

Boardwalk Real Estate Investment Trust Price Performance

Shares of Boardwalk Real Estate Investment Trust stock traded down C$1.52 during trading hours on Monday, reaching C$65.24. The company’s stock had a trading volume of 101,456 shares, compared to its average volume of 106,831. The firm has a 50 day moving average price of C$66.80 and a 200-day moving average price of C$67.06. The company has a debt-to-equity ratio of 77.35, a current ratio of 0.23 and a quick ratio of 0.04. Boardwalk Real Estate Investment Trust has a one year low of C$59.10 and a one year high of C$75.37. The stock has a market cap of C$3.48 billion, a P/E ratio of 13.34, a P/E/G ratio of 1.24 and a beta of 0.55.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) last announced its earnings results on Thursday, February 19th. The real estate investment trust reported C($1.21) EPS for the quarter. Boardwalk Real Estate Investment Trust had a return on equity of 15.71% and a net margin of 118.55%.The company had revenue of C$164.85 million during the quarter. On average, 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.