Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Stock Passes Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Boardwalk Real Estate Investment Trust's stock (TSE:BEI.UN) recently crossed above its 200-day moving average, trading at C$70.03 with a high of C$70.19.
• Analysts have increased their price targets for the stock, with National Bank raising it to C$82.50 and Desjardins to C$85.00, indicating a general sentiment of a "buy" or "outperform" rating.
• The company declared a monthly dividend of $0.135 per share, which corresponds to a 2.3% yield, with the ex-dividend date set for August 29th.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN - Get Free Report) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$67.25 and traded as high as C$70.19. Boardwalk Real Estate Investment Trust shares last traded at C$70.03, with a volume of 96,943 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BEI.UN. National Bankshares upped their target price on 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. TD Securities upped 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 report on Thursday, July 31st. Raymond James Financial upped their target price on Boardwalk Real Estate Investment Trust from C$86.00 to C$87.50 and gave the company an "outperform" rating in a research report on Thursday, July 31st. CIBC boosted their price target on Boardwalk Real Estate Investment Trust from C$80.00 to C$84.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Finally, Royal Bank Of Canada boosted their price target on Boardwalk Real Estate Investment Trust from C$86.00 to C$88.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Boardwalk Real Estate Investment Trust has a consensus rating of "Moderate Buy" and a consensus price target of C$83.44.

Boardwalk Real Estate Investment Trust Trading Up 1.1%

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 firm has a market capitalization of C$3.42 billion, a price-to-earnings ratio of 5.12, a P/E/G ratio of 1.24 and a beta of 1.76. The company has a 50 day moving average price of C$70.60 and a two-hundred day moving average price of C$67.32.

Boardwalk Real Estate Investment Trust Dividend Announcement

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

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.