Boardwalk REIT (TSE:BEI.UN) Stock Price Crosses Above Two Hundred Day Moving Average of $71.34

Boardwalk REIT (TSE:BEI.UN) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$71.34 and traded as high as C$73.02. Boardwalk REIT shares last traded at C$72.34, with a volume of 114,595 shares.

Wall Street Analyst Weigh In

A number of research analysts recently commented on BEI.UN shares. National Bankshares lowered their price target on shares of Boardwalk REIT from C$87.00 to C$86.50 and set an “outperform” rating for the company in a report on Wednesday, April 24th. Royal Bank of Canada raised their price objective on Boardwalk REIT from C$82.00 to C$86.00 and gave the company an “outperform” rating in a research note on Monday, February 26th. CIBC lifted their target price on Boardwalk REIT from C$74.50 to C$81.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. TD Securities decreased their price target on Boardwalk REIT from C$92.00 to C$90.00 in a report on Wednesday, April 24th. Finally, Laurentian lifted their price objective on shares of Boardwalk REIT from C$75.00 to C$80.00 in a research note on Monday, January 22nd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Boardwalk REIT currently has an average rating of “Moderate Buy” and an average target price of C$84.42.

Boardwalk REIT Price Performance

The firm has a market cap of C$3.57 billion, a PE ratio of 4.98, a price-to-earnings-growth ratio of 1.24 and a beta of 1.72. The company has a quick ratio of 0.04, a current ratio of 0.61 and a debt-to-equity ratio of 85.98. The stock has a 50 day moving average price of C$74.98 and a two-hundred day moving average price of C$71.34.

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.