Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Sets New 12-Month Low on Analyst Downgrade

Boardwalk Real Estate Investment Trust (TSE:BEI.UN)’s stock price reached a new 52-week low during trading on Tuesday after Raymond James lowered their price target on the stock from C$91.00 to C$82.00. The company traded as low as C$61.07 and last traded at C$61.80, with a volume of 137135 shares traded. The stock had previously closed at C$61.75.

Several other equities research analysts have also issued reports on BEI.UN. National Bankshares lowered their target price on shares of Boardwalk Real Estate Investment Trust from C$96.00 to C$90.00 in a report on Thursday, November 7th. TD Securities decreased their price objective on Boardwalk Real Estate Investment Trust from C$100.00 to C$95.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Scotiabank reduced their price target on Boardwalk Real Estate Investment Trust from C$84.75 to C$81.75 in a research report on Thursday, November 7th. Royal Bank of Canada dropped their price objective on Boardwalk Real Estate Investment Trust from C$98.00 to C$90.00 in a research report on Thursday, November 7th. Finally, BMO Capital Markets downgraded shares of Boardwalk Real Estate Investment Trust from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from C$84.00 to C$73.00 in a report on Wednesday, December 18th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Boardwalk Real Estate Investment Trust presently has an average rating of “Moderate Buy” and an average price target of C$84.98.

Insider Buying and Selling

In other news, Director Scott Andrew Morrison acquired 650 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was bought at an average price of C$64.76 per share, with a total value of C$42,094.98. 17.92% of the stock is currently owned by corporate insiders.

Boardwalk Real Estate Investment Trust Trading Up 0.1 %

The company has a fifty day moving average of C$67.51 and a 200-day moving average of C$75.41. The company has a current ratio of 0.23, a quick ratio of 0.04 and a debt-to-equity ratio of 77.35. The company has a market capitalization of C$3.05 billion, a price-to-earnings ratio of 4.57, a PEG ratio of 1.24 and a beta of 1.76.

Boardwalk Real Estate Investment Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, February 17th. Stockholders of record on Monday, February 17th will be paid a $0.12 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Friday, January 31st. Boardwalk Real Estate Investment Trust’s dividend payout ratio is currently 10.66%.

Boardwalk Real Estate Investment Trust Company Profile

Boardwalk REIT strives to be Canada's friendliest community provider and is a leading owner/operator of multi-family rental communities. Providing homes in more than 200 communities, with over 34,000 residential suites totaling over 29 million net rentable square feet, Boardwalk has a proven long-term track record of building better communities, where love always lives.