Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Stock Gets Price Target Cut from National Bank Financial

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) had its price objective lowered by National Bank Financial from C$81.00 to C$74.25 in a report published on Wednesday morning,BayStreet reports. National Bank Financial currently has an outperform rating on the real estate investment trust’s stock.

Several other equities analysts have also commented on BEI.UN. Scotiabank reduced their target price on shares of Boardwalk Real Estate Investment Trust from C$74.50 to C$74.00 and set a “sector perform” rating on the stock in a report on Thursday, July 30th. Royal Bank Of Canada lifted their target price on shares of Boardwalk Real Estate Investment Trust from C$81.00 to C$84.00 and gave the stock an “outperform” rating in a research report on Thursday, July 30th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$78.53.

Boardwalk Real Estate Investment Trust Trading Down 0.8%

BEI.UN stock opened at C$62.35 on Wednesday. The company has a market capitalization of C$3.14 billion, a PE ratio of -73.35, a price-to-earnings-growth ratio of 1.24 and a beta of 0.56. Boardwalk Real Estate Investment Trust has a one year low of C$59.93 and a one year high of C$70.12. The company’s 50 day moving average price is C$62.18 and its two-hundred day moving average price is C$64.24. The company has a debt-to-equity ratio of 77.35, a quick ratio of 0.04 and a current ratio of 0.23.

Boardwalk Real Estate Investment Trust Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 16th will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, October 30th. This represents a $1.80 annualized dividend and a yield of 2.9%. Boardwalk Real Estate Investment Trust’s dividend payout ratio is currently -199.41%.

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.