Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Stock Price Passes Above 200 Day Moving Average – What’s Next?

Boardwalk Real Estate Investment Trust (TSE:BEI.UN)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$65.55 and traded as high as C$67.61. Boardwalk Real Estate Investment Trust shares last traded at C$67.05, with a volume of 213,788 shares.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BEI.UN. Raymond James Financial cut their price target on Boardwalk Real Estate Investment Trust from C$83.00 to C$82.00 and set a “strong-buy” rating on the stock in a report on Monday, February 23rd. BMO Capital Markets cut their price target 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 report on Monday, February 23rd. Desjardins cut their price target on Boardwalk Real Estate Investment Trust from C$79.00 to C$78.00 and set a “hold” rating on the stock in a report on Monday, February 23rd. National Bank Financial cut their price target on Boardwalk Real Estate Investment Trust from C$82.50 to C$81.00 and set an “outperform” rating on the stock in a report on Monday, February 23rd. Finally, Scotiabank lowered their price objective on Boardwalk Real Estate Investment Trust from C$78.00 to C$75.50 and set a “sector perform” rating for the company in a research note on Monday, February 23rd. One investment 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 company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$81.19.

Boardwalk Real Estate Investment Trust Stock Up 1.7%

The company has a quick ratio of 0.04, a current ratio of 0.23 and a debt-to-equity ratio of 77.35. The company has a market capitalization of C$3.56 billion, a PE ratio of 17.77, a P/E/G ratio of 1.24 and a beta of 0.40. The stock has a 50-day moving average of C$65.34 and a 200 day moving average of C$65.55.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) last posted its quarterly earnings data on Friday, February 20th. The real estate investment trust reported C($1.21) earnings per share for the quarter. The business had revenue of C$164.85 million during the quarter. Boardwalk Real Estate Investment Trust had a return on equity of 15.71% and a net margin of 118.55%. Sell-side analysts anticipate that Boardwalk Real Estate Investment Trust will post 4.4537396 EPS for the current year.

Boardwalk Real Estate Investment Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 15th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, April 30th. This represents a c) annualized dividend and a dividend yield of 2.6%. Boardwalk Real Estate Investment Trust’s dividend payout ratio (DPR) is currently 41.80%.

About Boardwalk Real Estate Investment Trust

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.