Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Analyst sentiment is moderately positive: Six of nine brokerages rate Boardwalk REIT “buy,” while three recommend holding it. The average 12-month price target is C$79.28, above the recent C$66.84 share price.
• Recent price targets were mixed: TD, Desjardins, Scotiabank and Scotia lowered their targets, while RBC raised its target to C$84 and maintained an “outperform” rating.
• Boardwalk announced a monthly C$0.15 dividend, equivalent to a 2.7% annualized yield, with the ex-dividend date set for July 31. The trust’s shares have traded between C$60.75 and C$73.96 over the past year.

Shares of Boardwalk Real Estate Investment Trust (TSE:BEI.UN - Get Free Report) have earned an average rating of "Moderate Buy" from the nine brokerages that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is C$79.28.

Several research firms have recently issued reports on BEI.UN. Desjardins cut their price objective on shares of Boardwalk Real Estate Investment Trust from C$78.00 to C$77.00 and set a "buy" rating on the stock in a report on Thursday, May 7th. Scotiabank lowered their target price on shares of 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 note on Thursday. TD cut their price target on shares of Boardwalk Real Estate Investment Trust from C$85.00 to C$82.00 and set a "buy" rating on the stock in a research note on Thursday, May 7th. Scotia cut their price target on shares of Boardwalk Real Estate Investment Trust from C$75.50 to C$74.50 and set a "sector perform" rating on the stock in a research note on Thursday, May 7th. Finally, Royal Bank Of Canada raised their price target on shares of Boardwalk Real Estate Investment Trust from C$81.00 to C$84.00 and gave the stock an "outperform" rating in a report on Thursday.

Boardwalk Real Estate Investment Trust Trading Down 0.4%

Boardwalk Real Estate Investment Trust stock opened at C$66.84 on Friday. 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 stock has a market cap of C$3.47 billion, a PE ratio of -78.64, a price-to-earnings-growth ratio of 1.24 and a beta of 0.53. The stock has a 50-day moving average of C$65.23 and a two-hundred day moving average of C$65.77. Boardwalk Real Estate Investment Trust has a one year low of C$60.75 and a one year high of C$73.96.

Boardwalk Real Estate Investment Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 17th will be given a $0.15 dividend. This represents a c) annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, July 31st. Boardwalk Real Estate Investment Trust's dividend payout ratio is presently -199.41%.

Boardwalk Real Estate Investment Trust Company Profile

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.

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