Boardwalk REIT (BEI.UN) Receives Consensus Recommendation of “Hold” from Analysts

Boardwalk REIT (TSE:BEI.UN) has been given a consensus rating of “Hold” by the ten brokerages that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is C$43.18.

A number of research analysts have issued reports on BEI.UN shares. BMO Capital Markets cut Boardwalk REIT from a “market perform” rating to an “underperform” rating and cut their price objective for the company from C$44.50 to C$37.75 in a report on Friday, August 11th. Scotiabank cut their price objective on Boardwalk REIT from C$48.00 to C$42.50 and set a “sector perform” rating for the company in a report on Monday, August 14th. TD Securities cut their price objective on Boardwalk REIT from C$49.00 to C$46.00 in a report on Monday, August 14th. National Bank Financial cut their price objective on Boardwalk REIT from C$39.00 to C$37.00 and set an “underperform” rating for the company in a report on Friday, August 18th. Finally, Royal Bank Of Canada cut their price objective on Boardwalk REIT from C$49.00 to C$45.00 and set a “sector perform” rating for the company in a report on Monday, August 14th.

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Boardwalk REIT (TSE:BEI.UN) traded up C$0.09 on Monday, reaching C$40.60. 40,939 shares of the company’s stock were exchanged, compared to its average volume of 101,238. Boardwalk REIT has a 1 year low of C$37.96 and a 1 year high of C$51.18.

About Boardwalk REIT

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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