Raymond James Financial Cuts Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Price Target to C$82.00

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) had its target price reduced by Raymond James Financial from C$83.00 to C$82.00 in a research note released on Monday,BayStreet.CA reports. Raymond James Financial currently has a strong-buy rating on the real estate investment trust’s stock.

Other equities analysts have also issued research reports about the company. BMO Capital Markets reduced their price objective on Boardwalk Real Estate Investment Trust from C$77.00 to C$76.00 and set a “market perform” rating on the stock in a research note on Monday. Desjardins cut their price target on Boardwalk Real Estate Investment Trust from C$79.00 to C$78.00 and set a “hold” rating for the company in a report on Monday. TD Securities decreased their price objective on shares of Boardwalk Real Estate Investment Trust from C$88.00 to C$85.00 and set a “buy” rating on the stock in a report on Friday, December 12th. Finally, National Bank Financial dropped their target price on shares of Boardwalk Real Estate Investment Trust from C$82.50 to C$81.00 and set an “outperform” rating for the company in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$81.19.

Boardwalk Real Estate Investment Trust Price Performance

Shares of Boardwalk Real Estate Investment Trust stock opened at C$66.90 on Monday. 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 stock has a market capitalization of C$3.56 billion, a price-to-earnings ratio of 13.68, a P/E/G ratio of 1.24 and a beta of 0.55. Boardwalk Real Estate Investment Trust has a 1-year low of C$59.10 and a 1-year high of C$75.37. The firm’s 50-day moving average price is C$66.99 and its two-hundred day moving average price is C$66.98.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) last posted its earnings results on Thursday, February 19th. The real estate investment trust reported C($1.21) earnings per share (EPS) for the quarter. The firm had revenue of C$164.85 million during the quarter. Boardwalk Real Estate Investment Trust had a net margin of 118.55% and a return on equity of 15.71%. On average, equities analysts predict that Boardwalk Real Estate Investment Trust will post 4.4537396 earnings per share for the current fiscal year.

Boardwalk Real Estate Investment Trust Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 15th were given a dividend of $0.135 per share. The ex-dividend date was Friday, November 28th. This represents a c) dividend on an annualized basis and a yield of 2.4%. Boardwalk Real Estate Investment Trust’s dividend payout ratio is presently 31.90%.

Boardwalk Real Estate Investment Trust Company Profile

Boardwalk Real Estate Investment Trust, or Boardwalk REIT, is a real estate investment trust engaged in the acquisition, development, and management of residential multifamily communities throughout Canada. Although the company’s cumulative residential property portfolio includes holdings in the provinces of Alberta, Saskatchewan, Ontario, and Quebec, the majority of its total units are located in Alberta. The submarkets around the cities of Calgary and Edmonton, specifically, account for the majority of Boardwalk REIT’s total residential suites.