Raymond James Downgrades Boardwalk Real Estate Investment Trust (TSE:BEI) to Moderate Buy

Boardwalk Real Estate Investment Trust (TSE:BEI) was downgraded by equities research analysts at Raymond James from a “strong-buy” rating to a “moderate buy” rating in a research report issued to clients and investors on Thursday, Zacks.com reports.

Separately, Scotiabank raised Boardwalk Real Estate Investment Trust from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 1st.

Boardwalk Real Estate Investment Trust Price Performance

Boardwalk Real Estate Investment Trust has a 52 week low of C$37.96 and a 52 week high of C$49.75.

Boardwalk Real Estate Investment Trust (TSE:BEI) last posted its quarterly earnings results on Tuesday, July 30th. The company reported C$2.33 earnings per share for the quarter, topping the consensus estimate of C$1.05 by C$1.28. The business had revenue of C$149.07 million during the quarter, compared to analysts’ expectations of C$149.08 million.

About Boardwalk Real Estate Investment Trust

Boardwalk Real Estate Investment Trust (the Trust) is an open-ended real estate investment trust (REIT). The Company is focused on the acquisition, refurbishment, management, ownership and development of multi-family residential communities within Canada. The Trust owns over 200 properties containing approximately 33,770 residential units within the Provinces of Alberta, Saskatchewan, Ontario and Quebec, representing over 30 million net rentable square feet.