Scotiabank Cuts Boardwalk REIT (BEI.UN) Price Target to C$41.00

Boardwalk REIT (TSE:BEI.UN) had its price target cut by Scotiabank from C$42.50 to C$41.00 in a research note issued to investors on Friday morning. They currently have a sector perform rating on the real estate investment trust’s stock.

Several other equities analysts also recently commented on BEI.UN. BMO Capital Markets set a C$37.75 target price on shares of Boardwalk REIT and gave the stock an underperform rating in a research report on Thursday. Royal Bank Of Canada lowered their target price on shares of Boardwalk REIT from C$49.00 to C$45.00 and set a sector perform rating on the stock in a research report on Monday, August 14th. Canaccord Genuity lowered their target price on shares of Boardwalk REIT from C$47.00 to C$45.00 in a research report on Monday, August 14th. National Bank Financial lowered their target price on shares of Boardwalk REIT from C$39.00 to C$37.00 and set an underperform rating on the stock in a research report on Friday, August 18th. Finally, TD Securities upgraded shares of Boardwalk REIT from a hold rating to a buy rating and upped their price target for the company from C$46.00 to C$52.00 in a report on Wednesday, November 15th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. Boardwalk REIT presently has an average rating of Hold and a consensus target price of C$42.93.

Shares of Boardwalk REIT (TSE:BEI.UN) opened at C$38.57 on Friday. Boardwalk REIT has a one year low of C$37.96 and a one year high of C$51.18.

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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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