Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Boardwalk REIT has a “Moderate Buy” consensus from nine brokerages: six rate it a buy and three recommend holding. The average 12-month price target is C$79.28.
• Recent analyst actions were mixed but generally positive: National Bank raised its target to C$81 and RBC to C$84, while Scotiabank lowered its target to C$74 and maintained a “sector perform” rating.
• Shares opened at C$60.90, near their 12-month low of C$60.67, while the REIT declared a monthly dividend of C$0.15 per share, representing an approximately 3.0% annualized yield.

Shares of Boardwalk Real Estate Investment Trust (TSE:BEI.UN - Get Free Report) have earned an average recommendation of "Moderate Buy" from the nine brokerages that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price target among brokers 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 recent research reports. National Bank Financial increased their target price on Boardwalk Real Estate Investment Trust from C$79.00 to C$81.00 and gave the stock an "outperform" rating in a research note on Thursday, July 30th. Scotiabank cut their price objective on shares of Boardwalk Real Estate Investment Trust from C$74.50 to C$74.00 and set a "sector perform" rating on the stock in a research report on Thursday, July 30th. Finally, Royal Bank Of Canada raised their price objective 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.

Boardwalk Real Estate Investment Trust Stock Down 0.8%

BEI.UN stock opened at C$60.90 on Friday. Boardwalk Real Estate Investment Trust has a twelve month low of C$60.67 and a twelve month high of C$71.54. The company has a quick ratio of 0.04, a current ratio of 0.23 and a debt-to-equity ratio of 77.35. The firm has a market cap of C$3.06 billion, a PE ratio of -71.65, a price-to-earnings-growth ratio of 1.24 and a beta of 0.55. The business has a 50 day moving average of C$64.29 and a 200 day moving average of C$64.77.

Boardwalk Real Estate Investment Trust Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 15th were issued a dividend of $0.15 per share. The ex-dividend date was Monday, August 31st. This represents a c) dividend on an annualized basis and a dividend yield of 3.0%. 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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