Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Sets New 52-Week Low – What’s Next?

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) reached a new 52-week low during mid-day trading on Wednesday. The stock traded as low as C$59.93 and last traded at C$60.00, with a volume of 157,991 shares trading hands. The stock had previously closed at C$61.07.

Analyst Ratings Changes

A number of analysts have recently commented on BEI.UN shares. Royal Bank Of Canada cut their target price on Boardwalk Real Estate Investment Trust from C$84.00 to C$83.00 and set an “outperform” rating on the stock in a research report on Thursday, November 5th. Scotiabank decreased their target price on Boardwalk Real Estate Investment Trust from C$74.50 to C$74.00 and set a “sector perform” rating for the company in a research report on Thursday, July 30th. National Bank Financial dropped their price target on Boardwalk Real Estate Investment Trust from C$81.00 to C$74.25 and set an “outperform” rating on the stock in a research note on Wednesday, October 21st. ATB Cormark Capital Markets cut their price target on Boardwalk Real Estate Investment Trust from C$80.00 to C$77.00 and set an “outperform” rating on the stock in a research report on Thursday, November 5th. Finally, Scotia reduced their price objective on Boardwalk Real Estate Investment Trust from C$74.00 to C$73.50 and set a “sector perform” rating for the company in a research note on Thursday, November 5th. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Boardwalk Real Estate Investment Trust presently has a consensus rating of “Moderate Buy” and an average target price of C$77.47.

Boardwalk Real Estate Investment Trust Stock Up 0.8%

The firm has a market capitalization of C$3.10 billion, a PE ratio of -45.71, a PEG ratio of 1.24 and a beta of 0.54. The business’s fifty day moving average price is C$61.60 and its 200 day moving average price is C$64.44. 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 (TSE:BEI.UN) last released its quarterly earnings results on Tuesday, November 3rd. The real estate investment trust reported C$0.19 earnings per share (EPS) for the quarter. The firm had revenue of C$159.82 million for the quarter. Boardwalk Real Estate Investment Trust had a return on equity of 15.71% and a net margin of 118.55%. On average, equities research analysts forecast that Boardwalk Real Estate Investment Trust will post 4.45 earnings per share for the current fiscal year.

Boardwalk Real Estate Investment Trust Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, November 16th will be paid a $0.15 dividend. This represents a $1.80 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Friday, October 30th. Boardwalk Real Estate Investment Trust’s dividend payout ratio (DPR) is -133.85%.

About Boardwalk Real Estate Investment Trust

Boardwalk Real Estate Investment Trust, or Boardwalk REIT, is a real estate investment trust engaged in the acquisition, development, and management of residential multifamily communities throughout Canada. Although the company’s cumulative residential property portfolio includes holdings in the provinces of Alberta, Saskatchewan, Ontario, and Quebec, the majority of its total units are located in Alberta. The submarkets around the cities of Calgary and Edmonton, specifically, account for the majority of Boardwalk REIT’s total residential suites.