Boardwalk REIT (OTCMKTS:BOWFF) Shares Cross Above 50 Day Moving Average of $21.71

Boardwalk REIT (OTCMKTS:BOWFF)’s share price crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $21.71 and traded as high as $22.76. Boardwalk REIT shares last traded at $22.76, with a volume of 400 shares changing hands.

BOWFF has been the topic of a number of research analyst reports. Scotiabank lowered their price objective on shares of Boardwalk REIT from $53.50 to $39.00 and set a “sector perform” rating on the stock in a research report on Wednesday, May 20th. CIBC reduced their target price on shares of Boardwalk REIT from $43.00 to $35.00 and set a “neutral” rating for the company in a report on Tuesday, May 19th. Canaccord Genuity reaffirmed a “hold” rating and set a $35.00 target price on shares of Boardwalk REIT in a report on Wednesday, April 15th. National Bank Financial raised shares of Boardwalk REIT to a “buy” rating and set a $34.50 target price for the company in a report on Tuesday, April 14th. Finally, Royal Bank of Canada upped their target price on shares of Boardwalk REIT from $34.00 to $36.00 and gave the company an “outperform” rating in a report on Tuesday, May 19th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $39.08.

The stock’s 50 day moving average price is $21.71 and its 200-day moving average price is $24.73. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $1.06 billion, a PE ratio of 15.91 and a beta of 1.28.

Boardwalk REIT (OTCMKTS:BOWFF) last announced its quarterly earnings data on Thursday, May 14th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter. The firm had revenue of $86.50 million during the quarter. Boardwalk REIT had a net margin of 21.60% and a return on equity of 3.13%.

Boardwalk REIT Company Profile (OTCMKTS:BOWFF)

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.

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