Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Sets New 1-Year Low Following Analyst Downgrade

Boardwalk Real Estate Investment Trust (TSE:BEI.UN)’s share price hit a new 52-week low during mid-day trading 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.

BEI.UN has been the subject of several other reports. TD Securities dropped their price objective on Boardwalk Real Estate Investment Trust from C$100.00 to C$95.00 and set a “buy” rating for the company in a research 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 stock from C$84.00 to C$73.00 in a report on Wednesday, December 18th. Royal Bank of Canada dropped their price objective on shares of Boardwalk Real Estate Investment Trust from C$98.00 to C$90.00 in a research note on Thursday, November 7th. Scotiabank dropped their target price on Boardwalk Real Estate Investment Trust from C$84.75 to C$81.75 in a research report on Thursday, November 7th. Finally, National Bankshares reduced their price objective on shares of Boardwalk Real Estate Investment Trust from C$96.00 to C$90.00 in a research note on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$84.98.

Insider Buying and Selling

In other Boardwalk Real Estate Investment Trust news, Director Scott Andrew Morrison acquired 650 shares of the stock in a transaction dated Wednesday, December 18th. The stock was purchased at an average cost of C$64.76 per share, for a total transaction of C$42,094.98. 17.92% of the stock is owned by company insiders.

Boardwalk Real Estate Investment Trust Price Performance

The firm has a fifty day moving average price of C$67.51 and a two-hundred day moving average price of C$75.41. 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 stock has a market capitalization of C$3.05 billion, a P/E ratio of 4.57, a P/E/G ratio of 1.24 and a beta of 1.76.

Boardwalk Real Estate Investment Trust Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, February 17th. Shareholders of record on Monday, February 17th will be issued a dividend of $0.12 per share. This represents a $1.44 annualized dividend and a yield of 2.33%. The ex-dividend date is Friday, January 31st. Boardwalk Real Estate Investment Trust’s dividend payout ratio is presently 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.