Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Hits New 1-Year Low - Time to Sell?

Key Points

• Boardwalk REIT shares fell to a new 52-week low of C$60.75, closing near C$60.81 and below both their 50-day and 200-day moving averages.
• Analysts remain generally positive: six rate the stock a Buy and three a Hold, producing a “Moderate Buy” consensus and an average price target of C$79.28.
• The REIT declared a monthly dividend of C$0.15 per share, implying a 3.0% yield, though its reported payout ratio is highly negative at -199.41%.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN - Get Free Report)'s share price reached a new 52-week low on Tuesday . The stock traded as low as C$60.75 and last traded at C$60.81, with a volume of 92092 shares trading hands. The stock had previously closed at C$62.33.

Wall Street Analyst Weigh In

BEI.UN has been the topic of a number of recent analyst reports. National Bank Financial upped their price objective on Boardwalk Real Estate Investment Trust from C$79.00 to C$81.00 and gave the company an "outperform" rating in a report on Thursday, July 30th. Scotiabank reduced their target price on 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 upped their price target on 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. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of C$79.28.

Boardwalk Real Estate Investment Trust Price Performance

The stock has a market cap of C$3.07 billion, a price-to-earnings ratio of -71.69, a P/E/G ratio of 1.24 and a beta of 0.55. The company has a current ratio of 0.23, a quick ratio of 0.04 and a debt-to-equity ratio of 77.35. The company's fifty day moving average is C$64.71 and its two-hundred day moving average is C$64.90.

Boardwalk Real Estate Investment Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 15th will be issued a $0.15 dividend. This represents a c) annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Monday, August 31st. Boardwalk Real Estate Investment Trust's payout ratio is currently -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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