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Boardwalk REIT downgraded to Market Perform from Outperform at BMO Capital

Boardwalk REIT downgraded to Market Perform from Outperform at BMO Capital

BMO Capital downgraded Boardwalk REIT (BOWFF) to Market Perform from Outperform with a price target of C$73, down from C$84. The firm believes the next twelve months will be challenging for Canadian multifamily real estate investment trusts and has become more concerned with supply risk in Boardwalk’s two largest markets, Calgary and Edmonton.

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