Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Rating Lowered to Market Perform at BMO Capital Markets

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) was downgraded by BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. They presently have a C$73.00 price target on the real estate investment trust’s stock, down from their prior price target of C$84.00. BMO Capital Markets’ target price would suggest a potential upside of 16.50% from the company’s previous close.

A number of other brokerages have also commented on BEI.UN. National Bankshares decreased their price objective on Boardwalk Real Estate Investment Trust from C$96.00 to C$90.00 in a research report on Thursday, November 7th. 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 report on Thursday, November 7th. Raymond James dropped their price objective on shares of Boardwalk Real Estate Investment Trust from C$98.00 to C$91.00 in a research note on Thursday, November 7th. TD Securities decreased 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. Finally, Scotiabank lowered their price target on shares of Boardwalk Real Estate Investment Trust from C$84.75 to C$81.75 in a report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Boardwalk Real Estate Investment Trust currently has an average rating of “Moderate Buy” and an average price target of C$85.88.

Boardwalk Real Estate Investment Trust Price Performance

BEI.UN opened at C$62.66 on Wednesday. Boardwalk Real Estate Investment Trust has a 12-month low of C$62.45 and a 12-month high of C$91.81. The company has a quick ratio of 0.04, a current ratio of 0.23 and a debt-to-equity ratio of 77.35. The firm has a market capitalization of C$3.10 billion, a P/E ratio of 4.64, a PEG ratio of 1.24 and a beta of 1.76. The stock has a fifty day moving average of C$72.32 and a 200-day moving average of C$76.17.

Insiders Place Their Bets

In other news, Director Scott Andrew Morrison acquired 850 shares of Boardwalk Real Estate Investment Trust stock in a transaction dated Thursday, November 14th. The stock was acquired at an average cost of C$69.75 per share, for a total transaction of C$59,288.01. Company 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.