Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Stock Passes Above Two Hundred Day Moving Average - Here's Why

Key Points

• Boardwalk Real Estate Investment Trust's shares have crossed above their 200-day moving average, trading as high as C$71.10 after last settling at C$71.03.
• Multiple analysts have raised their price targets for Boardwalk REIT, with current targets ranging from C$75.00 to C$87.50 and a consensus rating of "Moderate Buy."
• The company announced a monthly dividend of $0.135 per share, which will be paid on September 15th, representing an annualized yield of 2.3%.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN - Get Free Report) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$66.96 and traded as high as C$71.10. Boardwalk Real Estate Investment Trust shares last traded at C$71.03, with a volume of 125,118 shares traded.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. National Bankshares raised their price objective on shares of Boardwalk Real Estate Investment Trust from C$77.50 to C$82.50 and gave the company an "outperform" rating in a research report on Thursday, July 31st. CIBC upped their price objective on Boardwalk Real Estate Investment Trust from C$80.00 to C$84.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. TD Securities lifted their target price on Boardwalk Real Estate Investment Trust from C$85.00 to C$87.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. BMO Capital Markets boosted their price target on Boardwalk Real Estate Investment Trust from C$73.00 to C$75.00 in a report on Monday, May 12th. Finally, Raymond James Financial increased their price objective on shares of Boardwalk Real Estate Investment Trust from C$86.00 to C$87.50 and gave the company an "outperform" rating in a report on Thursday, July 31st. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of C$83.44.

Boardwalk Real Estate Investment Trust Price Performance

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's 50 day simple moving average is C$70.61 and its two-hundred day simple moving average is C$67.13. The firm has a market capitalization of C$3.46 billion, a PE ratio of 5.18, a price-to-earnings-growth ratio of 1.24 and a beta of 1.76.

Boardwalk Real Estate Investment Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.135 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a c) dividend on an annualized basis and a yield of 2.3%. Boardwalk Real Estate Investment Trust's payout ratio is 10.66%.

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.