Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Reaches New 52-Week Low - Here's Why

Key Points

• Boardwalk REIT shares fell to a new 52-week low of C$60.65, down from the previous close of C$61.53 and below both its 50-day and 200-day moving averages.
• Analyst sentiment remains generally positive despite the decline: six analysts rate the stock Buy and three rate it 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, equivalent to C$1.80 annually and a 3.0% yield, although its reported payout ratio was negative 199.41%.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Thursday. The company traded as low as C$60.65 and last traded at C$60.65, with a volume of 9768 shares traded. The stock had previously closed at C$61.53.

Analysts Set New Price Targets

Several research firms have recently weighed in on BEI.UN. Royal Bank Of Canada lifted 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. Scotiabank cut 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 on the stock in a research note on Thursday, July 30th. Finally, National Bank Financial raised their price target on shares of Boardwalk Real Estate Investment Trust from C$79.00 to C$81.00 and gave the stock an "outperform" rating in a report on Thursday, July 30th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of C$79.28.

Boardwalk Real Estate Investment Trust Trading Down 1.4%

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's 50-day moving average price is C$63.60 and its 200 day moving average price is C$64.56. The company has a market capitalization of C$3.05 billion, a P/E ratio of -71.39, a P/E/G ratio of 1.24 and a beta of 0.55.

Boardwalk Real Estate Investment Trust Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 15th were paid a dividend of $0.15 per share. The ex-dividend date was Monday, August 31st. This represents a $1.80 dividend on an annualized basis and a yield of 3.0%. Boardwalk Real Estate Investment Trust's payout ratio is -199.41%.

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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