CIBC Cuts Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Price Target to C$80.00

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) had its price objective lowered by equities research analysts at CIBC from C$86.00 to C$80.00 in a report released on Monday,BayStreet.CA reports. CIBC’s target price would indicate a potential upside of 24.71% from the stock’s previous close.

A number of other brokerages also recently issued reports on BEI.UN. Raymond James reduced their price target on Boardwalk Real Estate Investment Trust from C$91.00 to C$82.00 in a research report on Monday, January 13th. BMO Capital Markets downgraded Boardwalk Real Estate Investment Trust from an “outperform” rating to a “market perform” rating and dropped their price target for the company from C$84.00 to C$73.00 in a research note on Wednesday, December 18th. TD Securities cut their price objective on shares of Boardwalk Real Estate Investment Trust from C$100.00 to C$95.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Scotiabank dropped their target price on shares of Boardwalk Real Estate Investment Trust from C$84.75 to C$81.75 in a research report on Thursday, November 7th. Finally, National Bankshares reduced their price target on shares of Boardwalk Real Estate Investment Trust from C$96.00 to C$90.00 in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$84.50.

Boardwalk Real Estate Investment Trust Stock Performance

Shares of Boardwalk Real Estate Investment Trust stock traded down C$0.20 during trading on Monday, reaching C$64.15. The company’s stock had a trading volume of 52,609 shares, compared to its average volume of 148,846. Boardwalk Real Estate Investment Trust has a 52 week low of C$59.53 and a 52 week high of C$91.81. The company has a quick ratio of 0.04, a current ratio of 0.23 and a debt-to-equity ratio of 77.35. The business’s 50-day moving average price is C$63.41 and its 200-day moving average price is C$73.58. The firm has a market cap of C$3.17 billion, a PE ratio of 4.75, a P/E/G ratio of 1.24 and a beta of 1.76.

Insiders Place Their Bets

In related news, Director Scott Andrew Morrison acquired 650 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was acquired at an average cost of C$64.76 per share, for a total transaction of C$42,094.98. Insiders own 17.92% of the company’s stock.

About Boardwalk Real Estate Investment Trust

Boardwalk REIT strives to be Canada's friendliest community provider and is a leading owner/operator of multi-family rental communities. Providing homes in more than 200 communities, with over 34,000 residential suites totaling over 29 million net rentable square feet, Boardwalk has a proven long-term track record of building better communities, where love always lives.