Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Stock Price Crosses Below 200 Day Moving Average - Time to Sell?

Key Points

• Boardwalk REIT shares fell below their 200-day moving average of C$64.60, trading as low as C$61.28, signaling recent technical weakness.
• Despite the decline, analyst sentiment remains positive: 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 pays a monthly dividend of C$0.15, or C$1.80 annualized, representing a 2.9% yield; however, its reported dividend payout ratio is negative 199.41%.

Shares of Boardwalk Real Estate Investment Trust (TSE:BEI.UN - Get Free Report) crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of C$64.60 and traded as low as C$61.28. Boardwalk Real Estate Investment Trust shares last traded at C$61.28, with a volume of 73,234 shares.

Analyst Upgrades and Downgrades

BEI.UN has been the topic of several research reports. Scotiabank lowered 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 report on Thursday, July 30th. Royal Bank Of Canada lifted their price target on Boardwalk Real Estate Investment Trust from C$81.00 to C$84.00 and gave the stock an "outperform" rating in a research note on Thursday, July 30th. Finally, National Bank Financial boosted their price objective 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 research report on Thursday, July 30th. Six 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 a consensus rating of "Moderate Buy" and an average target price of C$79.28.

Boardwalk Real Estate Investment Trust Stock Performance

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 stock's 50 day moving average price is C$63.76 and its two-hundred day moving average price is C$64.60. The firm has a market capitalization of C$3.08 billion, a PE ratio of -72.09, a PEG ratio of 1.24 and a beta of 0.55.

Boardwalk Real Estate Investment Trust Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 15th were given a $0.15 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Monday, August 31st. Boardwalk Real Estate Investment Trust's dividend payout ratio is currently -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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