Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Analyst consensus is “Moderate Buy”: Six of nine analysts recommend buying Boardwalk REIT, while three rate it a hold. The average 12-month price target is C$79.28, above the recent C$65.50 share price.
• Recent analyst updates were mixed, with Royal Bank of Canada raising its target to C$84, while TD, Scotiabank and Desjardins reduced their targets.
• Boardwalk REIT declared a monthly dividend of C$0.15 per share, representing a 2.7% yield. The stock remains near its 12-month range, which spans C$60.75 to C$72.71.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN - Get Free Report) has earned an average recommendation of "Moderate Buy" from the nine research firms that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is C$79.28.

BEI.UN has been the topic of a number of research analyst reports. TD cut their price target on shares of Boardwalk Real Estate Investment Trust from C$85.00 to C$82.00 and set a "buy" rating on the stock in a report on Thursday, May 7th. Royal Bank Of Canada boosted their target price on shares of Boardwalk Real Estate Investment Trust from C$81.00 to C$84.00 and gave the company an "outperform" rating in a research note on Thursday, July 30th. Scotiabank decreased their price target on shares of Boardwalk Real Estate Investment Trust from C$74.50 to C$74.00 and set a "sector perform" rating for the company in a research note on Thursday, July 30th. Desjardins lowered their price target 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 report on Thursday, May 7th. Finally, Scotia dropped their price objective on Boardwalk Real Estate Investment Trust from C$75.50 to C$74.50 and set a "sector perform" rating on the stock in a research note on Thursday, May 7th.

Boardwalk Real Estate Investment Trust Stock Performance

Shares of Boardwalk Real Estate Investment Trust stock opened at C$65.50 on Tuesday. The business's fifty day simple moving average is C$65.38 and its 200 day simple moving average is C$65.36. The company has a current ratio of 0.23, a quick ratio of 0.04 and a debt-to-equity ratio of 77.35. Boardwalk Real Estate Investment Trust has a 12 month low of C$60.75 and a 12 month high of C$72.71. The firm has a market capitalization of C$3.42 billion, a P/E ratio of -77.06, a price-to-earnings-growth ratio of 1.24 and a beta of 0.53.

Boardwalk Real Estate Investment Trust Announces Dividend

The company also recently declared a monthly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 17th were paid a dividend of $0.15 per share. The ex-dividend date was Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 2.7%. Boardwalk Real Estate Investment Trust's dividend payout ratio is presently -199.41%.

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. 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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