Scotiabank Keeps Their Hold Rating on Boardwalk REIT

By Carrie Williams

Boardwalk REIT (TSX: BEI.UN), the Financial sector company, was revisited by a Wall Street analyst yesterday. The company received a Hold rating from Scotiabank’s analyst Mario Saric, with a C$43.50 price target.

According to TipRanks.com, Saric is ranked #1265 out of 4717 analysts.

Boardwalk REIT has an analyst consensus of Hold, with a price target consensus of C$43.42.

Based on Boardwalk REIT’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of C$106 million and quarterly net profit of C$44.41 million. In comparison, last year the company earned revenue of C$109 million and had a GAAP net loss of C$35.52 million.

Boardwalk Real Estate Investment Trust is an open-ended real estate investment trust. The company engages in real estate rental market business. It has several residential multi-family apartments on Alberta, Ontario, Quebec and Saskatchewan. The company was founded by Sam Kolias in 1984 and is headquartered in Calgary, Canada.

The company’s shares closed on Friday at C$42.52.