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

Key Points

• Boardwalk Real Estate Investment Trust's shares have surpassed their 200-day moving average, indicating positive stock momentum.
• Analyst reports show a consensus price target of C$83.44 for the stock, with multiple ratings indicating a "Buy" or "Outperform" outlook.
• The company announced a monthly dividend of $0.135 per share, with the next payment date set for September 15th, resulting in a dividend yield of 2.3%.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN - Get Free Report)'s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$67.53 and traded as high as C$71.12. Boardwalk Real Estate Investment Trust shares last traded at C$71.01, with a volume of 177,433 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. BMO Capital Markets lifted their target price on Boardwalk Real Estate Investment Trust from C$73.00 to C$75.00 in a research report on Monday, May 12th. TD Securities lifted their price objective on Boardwalk Real Estate Investment Trust from C$85.00 to C$87.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. CIBC lifted 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. Raymond James Financial increased their price target on Boardwalk Real Estate Investment Trust from C$86.00 to C$87.50 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Finally, Royal Bank Of Canada increased their price target on Boardwalk Real Estate Investment Trust from C$86.00 to C$88.00 and gave the stock 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's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of C$83.44.

Boardwalk Real Estate Investment Trust Stock Performance

The company has a 50-day moving average price of C$70.69 and a two-hundred day moving average price of C$67.53. The stock has a market capitalization of C$3.78 billion, a P/E ratio of 11.70, a PEG ratio of 1.24 and a beta of 0.75. 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 Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 15th will be given a dividend of $0.135 per share. The ex-dividend date is Friday, August 29th. This represents a c) annualized dividend and a dividend yield of 2.3%. 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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