Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Hits New 12-Month Low – Here’s Why

Shares of Boardwalk Real Estate Investment Trust (TSE:BEI.UN) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as C$62.35 and last traded at C$62.75, with a volume of 5655 shares changing hands. The stock had previously closed at C$63.22.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BEI.UN. Royal Bank of Canada cut their price target on shares of Boardwalk Real Estate Investment Trust from C$98.00 to C$90.00 in a report on Thursday, November 7th. National Bankshares dropped their price objective on shares of Boardwalk Real Estate Investment Trust from C$96.00 to C$90.00 in a research report on Thursday, November 7th. BMO Capital Markets downgraded Boardwalk Real Estate Investment Trust from an “outperform” rating to a “market perform” rating and cut their price target for the company from C$84.00 to C$73.00 in a research note on Wednesday, December 18th. Scotiabank decreased their target price on Boardwalk Real Estate Investment Trust from C$84.75 to C$81.75 in a research note on Thursday, November 7th. Finally, TD Securities reduced 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 research report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$85.88.

Boardwalk Real Estate Investment Trust Stock Down 1.3 %

The company has a debt-to-equity ratio of 77.35, a quick ratio of 0.04 and a current ratio of 0.23. The company’s fifty day moving average is C$67.90 and its 200-day moving average is C$75.45. The company has a market capitalization of C$3.05 billion, a PE ratio of 4.57, a price-to-earnings-growth 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 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 dividend yield of 2.33%. The ex-dividend date of this dividend is Friday, January 31st. Boardwalk Real Estate Investment Trust’s dividend payout ratio (DPR) is presently 10.66%.

Insider Activity at Boardwalk Real Estate Investment Trust

In related news, Director Scott Andrew Morrison bought 850 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was purchased at an average price of C$69.75 per share, for a total transaction of C$59,288.01. 17.92% of the stock is owned by corporate 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.