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

Shares of Boardwalk REIT (TSE:BEI.UN) 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 traded.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BEI.UN. BMO Capital Markets upped their target price 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. Laurentian upped their target price on Boardwalk REIT from C$75.00 to C$80.00 in a report on Monday, January 22nd. Desjardins upped their price target on Boardwalk REIT from C$81.00 to C$86.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. Scotiabank cut their price target on Boardwalk REIT from C$82.00 to C$80.25 and set a “sector perform” rating on the stock in a research note on Monday, March 25th. Finally, Cormark upped their price target on Boardwalk REIT from C$72.00 to C$86.00 in a research note on Thursday, March 14th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$84.36.

Boardwalk REIT Price Performance

The firm has a 50 day moving average of C$75.21 and a two-hundred day moving average of C$70.78. The company has a current ratio of 0.61, a quick ratio of 0.04 and a debt-to-equity ratio of 85.98. The company has a market cap of C$3.54 billion, a PE ratio of 4.86, a P/E/G ratio of 1.24 and a beta of 1.71.

Boardwalk REIT Company Profile

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.