Boardwalk REIT (TSE:BEI.UN – Get Rating) shares passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$50.49 and traded as low as C$46.36. Boardwalk REIT shares last traded at C$46.48, with a volume of 96,624 shares.
Wall Street Analyst Weigh In
BEI.UN has been the topic of a number of research analyst reports. Royal Bank of Canada boosted their target price on Boardwalk REIT from C$61.00 to C$64.00 and gave the stock an “outperform” rating in a research report on Thursday, August 11th. BMO Capital Markets boosted their price target on Boardwalk REIT from C$53.00 to C$56.50 in a report on Monday, August 22nd. TD Securities boosted their price target on Boardwalk REIT from C$61.00 to C$63.00 and gave the stock a “buy” rating in a report on Thursday, August 11th. National Bankshares boosted their price target on Boardwalk REIT from C$52.00 to C$58.00 and gave the stock an “outperform” rating in a report on Friday, August 12th. Finally, CIBC cut their price target on Boardwalk REIT from C$58.00 to C$56.00 and set a “neutral” rating for the company in a report on Thursday, August 11th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$59.63.
Boardwalk REIT Price Performance
The stock has a market capitalization of C$2.28 billion and a price-to-earnings ratio of 4.06. The company has a 50 day moving average of C$48.21 and a 200 day moving average of C$50.37. The company has a quick ratio of 0.06, a current ratio of 0.09 and a debt-to-equity ratio of 98.71.
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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