TSX:BEI.UN - Post Discussion
Post by
retiredcf on Jul 24, 2024 12:13pm
Raymond James Initiate Coverage
Raymond James analyst Brad Sturges initiated coverage on Boardwalk Real Estate Investment Trust with a “strong buy” rating and a C$95 target price.
Mr. Sturges likes the REIT for its high exposure to the non-rent controlled Alberta rental market that is experiencing greater interprovincial migration.
Other positives he cited include:
- Its underutilized urban land bank that provides future development opportunities;
- A strong alignment between senior management and unitholders;
- An improving balance strength that reflects lower financial leverage metrics and strong liquidity position;
- Potential for future distribution increases.
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