Boardwalk REIT (TSE:BEI.UN) Share Price Crosses Above 200-Day Moving Average of $70.78

Boardwalk REIT (TSE:BEI.UN)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$70.78 and traded as high as C$71.61. Boardwalk REIT shares last traded at C$70.73, with a volume of 83,335 shares changing hands.

Analysts Set New Price Targets

A number of analysts have recently weighed in on BEI.UN shares. TD Securities upped their target price on Boardwalk REIT from C$84.00 to C$89.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Scotiabank lowered their price target on Boardwalk REIT from C$82.00 to C$80.25 and set a “sector perform” rating for the company in a report on Monday, March 25th. Cormark boosted their price target on Boardwalk REIT from C$72.00 to C$86.00 in a report on Thursday, March 14th. BMO Capital Markets boosted their price target on Boardwalk REIT from C$78.00 to C$84.00 and gave the stock an “outperform” rating in a report on Monday, February 26th. Finally, Desjardins boosted their price target on Boardwalk REIT from C$81.00 to C$86.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$84.36.

Boardwalk REIT Price Performance

The business has a 50-day simple moving average of C$75.21 and a 200 day simple moving average of C$70.78. The stock has a market cap of C$3.54 billion, a P/E ratio of 4.86, a price-to-earnings-growth ratio of 1.24 and a beta of 1.71. The company has a current ratio of 0.61, a quick ratio of 0.04 and a debt-to-equity ratio of 85.98.

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.