Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Sets New 52-Week Low Following Analyst Downgrade

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) 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. The stock had previously closed at C$61.75.

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

Insider Transactions at Boardwalk Real Estate Investment Trust

In related news, Director Scott Andrew Morrison bought 650 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were 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 currently owned by insiders.

Boardwalk Real Estate Investment Trust Price Performance

The company has a current ratio of 0.23, a quick ratio of 0.04 and a debt-to-equity ratio of 77.35. The business’s fifty day moving average is C$67.29 and its 200 day moving average is C$75.36. The company has a market cap of C$3.02 billion, a P/E ratio of 4.52, a PEG ratio of 1.24 and a beta of 1.76.

Boardwalk Real Estate Investment Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, February 17th. Stockholders of record on Monday, February 17th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.36%. Boardwalk Real Estate Investment Trust’s dividend 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.