Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Stock Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• Boardwalk REIT shares moved above their 200-day moving average on Monday, trading as high as C$67.07 before last changing hands at C$66.67. The stock’s 200-day average was C$65.77.
• Analysts remain generally positive, but several trimmed price targets in recent reports. The stock has an average rating of “Moderate Buy” with a consensus price target of C$79.50.
• The REIT announced a monthly dividend of C$0.15 per share payable on August 17, with an ex-dividend date of July 31. That implies an annualized yield of about 2.7%.

Shares of Boardwalk Real Estate Investment Trust (TSE:BEI.UN - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$65.77 and traded as high as C$67.07. Boardwalk Real Estate Investment Trust shares last traded at C$66.67, with a volume of 125,604 shares trading hands.

Analysts Set New Price Targets

A number of analysts have weighed in on BEI.UN shares. TD lowered their price target on Boardwalk Real Estate Investment Trust from C$85.00 to C$82.00 and set a "buy" rating on the stock in a research report on Thursday, May 7th. Royal Bank Of Canada cut their price objective on Boardwalk Real Estate Investment Trust from C$82.00 to C$81.00 and set an "outperform" rating for the company in a report on Thursday, May 7th. Desjardins reduced their target price on shares of Boardwalk Real Estate Investment Trust from C$78.00 to C$77.00 and set a "buy" rating on the stock in a research note on Thursday, May 7th. Scotia lowered their target price on shares of Boardwalk Real Estate Investment Trust from C$75.50 to C$74.50 and set a "sector perform" rating on the stock in a report on Thursday, May 7th. Finally, National Bank Financial dropped their target price on shares of Boardwalk Real Estate Investment Trust from C$81.00 to C$80.00 and set an "outperform" rating for the company in a research report on Monday, April 20th. Six equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of C$79.50.

Boardwalk Real Estate Investment Trust Stock Up 0.8%

The company has a market cap of C$3.46 billion, a P/E ratio of 73.26, a PEG ratio of 1.24 and a beta of 0.53. 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 business's 50 day moving average price is C$64.87 and its 200-day moving average price is C$65.77.

Boardwalk Real Estate Investment Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, August 17th will be given a $0.15 dividend. The ex-dividend date is Friday, July 31st. This represents a c) annualized dividend and a yield of 2.7%. Boardwalk Real Estate Investment Trust's payout ratio is presently 181.32%.

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. The submarkets around the cities of Calgary and Edmonton, specifically, account for the majority of Boardwalk REIT's total residential suites.

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