Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Share Price Passes Above 200-Day Moving Average - What's Next?

Key Points

• Boardwalk Real Estate Investment Trust's share price has risen above its 200-day moving average of C$68.23, with recent trading peaking at C$71.48.
• Several analysts have raised their price targets for Boardwalk, with National Bankshares increasing it from C$77.50 to C$82.50 and TD Securities adjusting theirs from C$85.00 to C$87.00.
• The company recently announced a monthly dividend of $0.135, resulting in an annualized yield of 2.3%, and has a dividend payout ratio of 24.96%.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$68.23 and traded as high as C$71.48. Boardwalk Real Estate Investment Trust shares last traded at C$69.60, with a volume of 115,640 shares changing hands.

Wall Street Analyst Weigh In

BEI.UN has been the subject of several research analyst reports. National Bankshares raised their target price on shares of Boardwalk Real Estate Investment Trust from C$77.50 to C$82.50 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Raymond James Financial increased their price target on shares of Boardwalk Real Estate Investment Trust from C$86.00 to C$87.50 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. TD Securities raised their price objective on shares of Boardwalk Real Estate Investment Trust from C$85.00 to C$87.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Desjardins upped their target price on Boardwalk Real Estate Investment Trust from C$80.00 to C$85.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Finally, CIBC raised their target price on Boardwalk Real Estate Investment Trust from C$80.00 to C$84.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of C$83.44.

Boardwalk Real Estate Investment Trust Stock Down 2.0%

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's fifty day moving average price is C$70.99 and its 200-day moving average price is C$68.23. The stock has a market capitalization of C$3.71 billion, a PE ratio of 11.47, a price-to-earnings-growth ratio of 1.24 and a beta of 0.71.

Boardwalk Real Estate Investment Trust Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 15th were paid a $0.135 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Friday, August 29th. Boardwalk Real Estate Investment Trust's dividend payout ratio is currently 24.96%.

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.

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