Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Reaches New 1-Year Low - Here's Why

Key Points

• Boardwalk REIT hit a new 52-week low, trading as low as C$59.93 and last at C$60.00, down from a previous close of C$61.07.
• Analysts’ views remain broadly positive: seven rate the units Buy and three Hold, giving the REIT a “Moderate Buy” consensus and an average price target of C$77.47. Several brokerages recently lowered their targets.
• The REIT reported quarterly EPS of C$0.19 and revenue of C$159.82 million, and announced a monthly dividend of C$0.15 per unit, equivalent to a 3.0% annualized yield.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN - Get Free Report)'s stock price hit a new 52-week low during trading on Wednesday. The company traded as low as C$59.93 and last traded at C$60.00, with a volume of 157,991 shares traded. The stock had previously closed at C$61.07.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BEI.UN. National Bank Financial cut 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 report on Wednesday, October 21st. Royal Bank Of Canada decreased their price objective on Boardwalk Real Estate Investment Trust from C$84.00 to C$83.00 and set an "outperform" rating for the company in a report on Thursday, November 5th. Raymond James Financial boosted their target price on Boardwalk Real Estate Investment Trust from C$72.50 to C$73.00 and gave the company an "outperform" rating in a research note on Thursday, November 5th. 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. Finally, Scotia reduced their target price on shares of Boardwalk Real Estate Investment Trust from C$74.00 to C$73.50 and set a "sector perform" rating for the company in a report on Thursday, November 5th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Boardwalk Real Estate Investment Trust currently has an average rating of "Moderate Buy" and a consensus target price of C$77.47.

Boardwalk Real Estate Investment Trust Stock Down 1.9%

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 firm's 50 day moving average is C$61.72 and its two-hundred day moving average is C$64.51. The firm has a market capitalization of C$3.12 billion, a P/E ratio of -46.09, a PEG ratio of 1.24 and a beta of 0.54.

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

Boardwalk Real Estate Investment Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 16th will be given a $0.15 dividend. The ex-dividend date is Friday, October 30th. This represents a $1.80 annualized dividend and a dividend yield of 3.0%. Boardwalk Real Estate Investment Trust's payout ratio is presently -133.85%.

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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