Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Receives C$84.07 Average PT from Analysts

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) has been assigned an average recommendation of “Hold” from the seven analysts that are presently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is C$81.50.

A number of equities research analysts recently weighed in on BEI.UN shares. BMO Capital Markets cut Boardwalk Real Estate Investment Trust from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from C$84.00 to C$73.00 in a research note on Wednesday, December 18th. Scotiabank lowered their price target on shares of Boardwalk Real Estate Investment Trust from C$79.50 to C$78.50 in a report on Monday, February 24th. National Bankshares downgraded shares of Boardwalk Real Estate Investment Trust from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from C$80.00 to C$72.00 in a research report on Monday. CIBC decreased their target price on shares of Boardwalk Real Estate Investment Trust from C$86.00 to C$80.00 in a research report on Monday, February 24th. Finally, Raymond James cut their price target on shares of Boardwalk Real Estate Investment Trust from C$91.00 to C$82.00 in a report on Monday, January 13th.

Boardwalk Real Estate Investment Trust Stock Performance

Shares of TSE:BEI.UN opened at C$61.32 on Friday. The firm has a 50 day moving average of C$64.57 and a 200 day moving average of C$68.32. 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 company has a market capitalization of C$3.03 billion, a price-to-earnings ratio of 4.54, a price-to-earnings-growth ratio of 1.24 and a beta of 1.76. Boardwalk Real Estate Investment Trust has a 52 week low of C$59.10 and a 52 week high of C$91.81.

Boardwalk Real Estate Investment Trust Increases Dividend

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