Raymond James Issues Pessimistic Forecast for Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Stock Price

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) had its price target reduced by Raymond James from C$98.00 to C$91.00 in a report issued on Thursday,BayStreet.CA reports.

Other equities analysts have also issued research reports about the stock. CIBC lifted their price target on shares of Boardwalk Real Estate Investment Trust from C$81.00 to C$86.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. National Bankshares reduced their price target on Boardwalk Real Estate Investment Trust from C$96.00 to C$90.00 in a research report on Thursday. BMO Capital Markets lowered their price objective on Boardwalk Real Estate Investment Trust from C$90.00 to C$87.00 in a research report on Monday, October 28th. TD Securities reduced their target price on Boardwalk Real Estate Investment Trust from C$100.00 to C$95.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Royal Bank of Canada lowered their price target on shares of Boardwalk Real Estate Investment Trust from C$98.00 to C$90.00 in a report on Thursday. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$87.28.

Boardwalk Real Estate Investment Trust Price Performance

BEI.UN stock opened at C$71.37 on Thursday. Boardwalk Real Estate Investment Trust has a 12 month low of C$64.40 and a 12 month high of C$91.81. The company’s 50-day moving average price is C$82.34 and its two-hundred day moving average price is C$76.81. 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 firm has a market cap of C$3.53 billion, a P/E ratio of 5.28, a P/E/G ratio of 1.24 and a beta of 1.76.

Boardwalk Real Estate Investment Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 15th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.44 annualized dividend and a dividend yield of 2.02%. Boardwalk Real Estate Investment Trust’s dividend payout ratio is currently 10.66%.

Insider Buying and Selling

In other news, Senior Officer James Ha sold 8,100 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of C$87.60, for a total value of C$709,560.00. 17.92% of the stock is owned by insiders.

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.