Boardwalk REIT (OTCMKTS:BOWFF) Share Price Crosses Above Fifty Day Moving Average of $21.71

Boardwalk REIT (OTCMKTS:BOWFF) crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $21.71 and traded as high as $22.76. Boardwalk REIT shares last traded at $22.76, with a volume of 400 shares changing hands.

BOWFF has been the topic of a number of research reports. Canaccord Genuity reissued a “hold” rating and set a $35.00 target price on shares of Boardwalk REIT in a research report on Wednesday, April 15th. Royal Bank of Canada lifted their price objective on shares of Boardwalk REIT from $34.00 to $36.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 19th. Scotiabank cut their price objective on shares of Boardwalk REIT from $53.50 to $39.00 and set a “sector perform” rating on the stock in a research report on Wednesday, May 20th. CIBC cut their price objective on shares of Boardwalk REIT from $43.00 to $35.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 19th. Finally, National Bank Financial raised shares of Boardwalk REIT to a “buy” rating and set a $34.50 price objective on the stock in a research report on Tuesday, April 14th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Boardwalk REIT presently has a consensus rating of “Buy” and a consensus target price of $39.08.

The business’s 50 day moving average is $21.71 and its 200 day moving average is $24.73. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of 15.91 and a beta of 1.28. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.09 and a current ratio of 0.09.

Boardwalk REIT (OTCMKTS:BOWFF) last announced its quarterly earnings data on Thursday, May 14th. The financial services provider reported $0.85 EPS for the quarter. Boardwalk REIT had a net margin of 21.60% and a return on equity of 3.13%. The business had revenue of $86.50 million during the quarter.

Boardwalk REIT Company Profile (OTCMKTS:BOWFF)

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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