Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Downgraded to “Sector Perform” Rating by National Bankshares

National Bankshares cut shares of Boardwalk Real Estate Investment Trust (TSE:BEI.UN) from an outperform rating to a sector perform rating in a research report sent to investors on Monday,BayStreet.CA reports. National Bankshares currently has C$72.00 price target on the real estate investment trust’s stock, down from their prior price target of C$80.00.

BEI.UN has been the subject of a number of other research reports. BMO Capital Markets downgraded Boardwalk Real Estate Investment Trust from an “outperform” rating to a “market perform” rating and cut their price target for the company from C$84.00 to C$73.00 in a research note on Wednesday, December 18th. Raymond James cut their target price on Boardwalk Real Estate Investment Trust from C$91.00 to C$82.00 in a research report on Monday, January 13th. CIBC dropped their price objective on Boardwalk Real Estate Investment Trust from C$86.00 to C$80.00 in a research note on Monday, February 24th. Finally, Scotiabank cut their price objective on shares of Boardwalk Real Estate Investment Trust from C$79.50 to C$78.50 in a report on Monday, February 24th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of C$81.50.

Boardwalk Real Estate Investment Trust Stock Performance

BEI.UN opened at C$61.32 on Monday. The company has a market cap of C$3.03 billion, a price-to-earnings ratio of 4.54, a PEG ratio of 1.24 and a beta of 1.76. The company’s fifty day moving average price is C$64.57 and its two-hundred day moving average price is C$68.32. Boardwalk Real Estate Investment Trust has a 1-year low of C$59.10 and a 1-year high of C$91.81. The company has a current ratio of 0.23, a quick ratio of 0.04 and a debt-to-equity ratio of 77.35.

Boardwalk Real Estate Investment Trust Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 15th will be paid a $0.135 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 2.64%. This is a boost from Boardwalk Real Estate Investment Trust’s previous monthly dividend of $0.12. The ex-dividend date is Wednesday, April 30th. Boardwalk Real Estate Investment Trust’s payout ratio is presently 10.66%.

About Boardwalk Real Estate Investment Trust

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.