Royal Bank of Canada Boosts Boardwalk REIT (BEI.UN) Price Target to C$53.00
Boardwalk REIT (TSE:BEI.UN) had its price target lifted by investment analysts at Royal Bank of Canada from C$50.00 to C$53.00 in a report released on Tuesday. Royal Bank of Canada’s price objective points to a potential upside of 6.43% from the stock’s current price.
A number of other equities research analysts have also recently weighed in on the stock. National Bank Financial lifted their price objective on shares of Boardwalk REIT from C$44.75 to C$46.25 and gave the company a “sector perform” rating in a research note on Wednesday, May 16th. TD Securities lifted their price objective on shares of Boardwalk REIT from C$52.00 to C$54.00 and gave the company a “buy” rating in a research note on Thursday, May 17th. BMO Capital Markets lifted their price objective on shares of Boardwalk REIT from C$45.00 to C$50.00 in a research note on Wednesday, May 30th. Raymond James lifted their price objective on shares of Boardwalk REIT from C$50.00 to C$52.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Desjardins lifted their price objective on shares of Boardwalk REIT from C$48.00 to C$49.00 in a research note on Thursday, May 17th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of C$50.33.
BEI.UN stock traded up C$1.92 during mid-day trading on Tuesday, reaching C$49.80. The company had a trading volume of 359,298 shares, compared to its average volume of 119,513. Boardwalk REIT has a one year low of C$37.96 and a one year high of C$49.75.
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.
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