Brokerages Set Boardwalk REIT (BEI.UN) Target Price at $48.11

Shares of Boardwalk REIT (TSE:BEI.UN) have received an average recommendation of “Hold” from the nine research firms that are covering the company, Marketbeat reports. Five analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is C$48.11.

BEI.UN has been the subject of a number of analyst reports. Royal Bank of Canada reduced their price objective on shares of Boardwalk REIT from C$51.00 to C$49.00 and set a “sector perform” rating for the company in a report on Monday, February 25th. Canaccord Genuity raised their price objective on shares of Boardwalk REIT from C$39.00 to C$44.00 and gave the stock a “hold” rating in a report on Monday, February 25th. CIBC reduced their price objective on shares of Boardwalk REIT from C$49.00 to C$46.00 in a report on Monday, February 25th. BMO Capital Markets reduced their price objective on shares of Boardwalk REIT from C$49.50 to C$48.00 and set a “hold” rating for the company in a report on Wednesday, March 6th. Finally, National Bank Financial reduced their price objective on shares of Boardwalk REIT from C$44.00 to C$43.00 and set a “sector perform” rating for the company in a report on Tuesday, February 12th.

Shares of Boardwalk REIT stock opened at C$39.14 on Friday. The company has a quick ratio of 0.15, a current ratio of 0.22 and a debt-to-equity ratio of 85.23. Boardwalk REIT has a fifty-two week low of C$37.96 and a fifty-two week high of C$49.75. The firm has a market capitalization of $1.81 billion and a price-to-earnings ratio of 19.86.

In related news, Senior Officer Patrick Dean Burns sold 7,555 shares of Boardwalk REIT stock in a transaction dated Friday, March 29th. The shares were sold at an average price of C$40.93, for a total transaction of C$309,217.08. Following the completion of the transaction, the insider now directly owns 8,215 shares of the company’s stock, valued at approximately C$336,230.09. Also, Senior Officer Kelly Kulwant Mahajan sold 1,348 shares of Boardwalk REIT stock in a transaction dated Monday, March 25th. The shares were sold at an average price of C$40.72, for a total transaction of C$54,890.56. Following the transaction, the insider now directly owns 3,121 shares of the company’s stock, valued at C$127,087.12. Insiders have sold a total of 10,306 shares of company stock valued at $421,522 over the last ninety days.

About Boardwalk REIT

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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