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

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) shares hit a new 52-week low 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 trading hands. The stock had previously closed at C$61.75.

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

Insider Transactions at Boardwalk Real Estate Investment Trust

In other news, Director Scott Andrew Morrison purchased 650 shares of Boardwalk Real Estate Investment Trust stock in a transaction that occurred 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 owned by insiders.

Boardwalk Real Estate Investment Trust Trading Down 1.1 %

The stock has a fifty day simple moving average of C$67.29 and a 200 day simple moving average of C$75.36. The company has a debt-to-equity ratio of 77.35, a quick ratio of 0.04 and a current ratio of 0.23. The firm has a market cap of C$3.02 billion, a P/E ratio of 4.52, a price-to-earnings-growth ratio of 1.24 and a beta of 1.76.

Boardwalk Real Estate Investment Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, February 17th. Investors of record on Monday, February 17th will be issued a $0.12 dividend. The ex-dividend date is Friday, January 31st. This represents a $1.44 annualized dividend and a yield of 2.36%. Boardwalk Real Estate Investment Trust’s payout ratio is 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.