Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Shares Cross Above 200 Day Moving Average - Should You 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.

Shares of Boardwalk Real Estate Investment Trust (TSE:BEI.UN - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-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 traded.

Analyst Ratings Changes

Several brokerages recently weighed in on BEI.UN. National Bankshares boosted their target price on Boardwalk Real Estate Investment Trust from C$77.50 to C$82.50 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Desjardins increased their target price on Boardwalk Real Estate Investment Trust from C$80.00 to C$85.00 and gave the company a "buy" rating in a report on Thursday, July 31st. CIBC increased 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 report on Thursday, July 31st. Raymond James Financial increased 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 report on Thursday, July 31st. Finally, Royal Bank Of Canada boosted their target price on shares of 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 equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average 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 current ratio of 0.23 and a quick ratio of 0.04. The stock has a market cap of C$3.42 billion, a P/E ratio of 5.13, a P/E/G ratio of 1.24 and a beta of 1.76. The company's 50 day simple moving average is C$70.60 and its 200 day simple moving average is C$67.34.

Boardwalk Real Estate Investment Trust Announces Dividend

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