Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Price Target Cut to C$90.00 by Analysts at Royal Bank of Canada

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) had its price target reduced by Royal Bank of Canada from C$98.00 to C$90.00 in a research note published on Thursday,BayStreet.CA reports.

A number of other equities research analysts also recently weighed in on the company. Raymond James downgraded Boardwalk Real Estate Investment Trust from a “strong-buy” rating to an “outperform” rating and boosted their price target for the company from C$96.00 to C$100.00 in a report on Friday, September 6th. Scotiabank lowered their price target on Boardwalk Real Estate Investment Trust from C$84.75 to C$81.75 in a report on Thursday. CIBC boosted their price target on Boardwalk Real Estate Investment Trust from C$81.00 to C$86.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. TD Securities lowered their price target on Boardwalk Real Estate Investment Trust from C$100.00 to C$95.00 and set a “buy” rating for the company in a report on Thursday. Finally, National Bankshares lowered their price target on Boardwalk Real Estate Investment Trust from C$96.00 to C$90.00 in a report on Thursday. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Boardwalk Real Estate Investment Trust currently 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. The company has a quick ratio of 0.04, a current ratio of 0.23 and a debt-to-equity ratio of 77.35. Boardwalk Real Estate Investment Trust has a 52-week low of C$64.40 and a 52-week high of C$91.81. The stock’s 50 day moving average is C$82.34 and its two-hundred day moving average is C$76.81. The company has a market capitalization of C$3.53 billion, a PE ratio of 5.28, 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 disclosed a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 15th will be given a dividend of $0.12 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.44 dividend on an annualized basis and a yield of 2.02%. Boardwalk Real Estate Investment Trust’s dividend payout ratio is currently 10.66%.

Insider Activity at Boardwalk Real Estate Investment Trust

In other Boardwalk Real Estate Investment Trust news, Senior Officer James Ha sold 8,100 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of C$87.60, for a total transaction of C$709,560.00. Insiders own 17.92% of the company’s stock.

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.