Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Stock Has Average Price Target of C$77.47 According to Brokerages

Key Points

• Analyst sentiment is moderately positive: Seven of ten brokerages rate Boardwalk REIT a buy and three recommend holding, with an average 12-month price target of C$77.47.
• Several firms recently adjusted their targets, mostly lowering them; the stock opened at C$62.51, below the consensus target and within its 12-month range of C$59.93–C$70.12.
• Boardwalk reported quarterly earnings of C$0.19 per share and revenue of C$159.82 million. It also announced a monthly dividend of C$0.15 per share, equivalent to an annualized yield of 2.9%.

Shares of Boardwalk Real Estate Investment Trust (TSE:BEI.UN - Get Free Report) have earned an average recommendation of "Moderate Buy" from the ten brokerages that are covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is C$77.47.

Several brokerages have recently commented on BEI.UN. ATB Cormark Capital Markets decreased their price objective on shares of Boardwalk Real Estate Investment Trust from C$80.00 to C$77.00 and set an "outperform" rating on the stock in a report on Thursday. Scotiabank dropped their target price 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 report on Thursday, July 30th. Raymond James Financial lifted their target price on shares of Boardwalk Real Estate Investment Trust from C$72.50 to C$73.00 and gave the company an "outperform" rating in a report on Thursday. Scotia cut their target price on Boardwalk Real Estate Investment Trust from C$74.00 to C$73.50 and set a "sector perform" rating on the stock in a research report on Thursday. Finally, National Bank Financial decreased their price target on Boardwalk Real Estate Investment Trust from C$81.00 to C$74.25 and set an "outperform" rating on the stock in a research note on Wednesday, October 21st.

Boardwalk Real Estate Investment Trust Trading Down 1.2%

TSE BEI.UN opened at C$62.51 on Friday. The firm's 50-day moving average is C$61.80 and its two-hundred day moving average is C$64.57. Boardwalk Real Estate Investment Trust has a 12 month low of C$59.93 and a 12 month high of C$70.12. 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 capitalization of C$2.83 billion, a P/E ratio of -73.54, a PEG ratio of 1.24 and a beta of 0.54.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN - Get Free Report) last announced its quarterly earnings results on Tuesday, November 3rd. The real estate investment trust reported C$0.19 earnings per share for the quarter. The business had revenue of C$159.82 million during the quarter. Boardwalk Real Estate Investment Trust had a net margin of 118.55% and a return on equity of 15.71%. On average, sell-side analysts anticipate that Boardwalk Real Estate Investment Trust will post 4.45 earnings per share for the current year.

Boardwalk Real Estate Investment Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 16th will be paid a dividend of $0.15 per share. This represents a $1.80 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, October 30th. Boardwalk Real Estate Investment Trust's 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.