Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Stock Price Crosses Below 50 Day Moving Average - Here's What Happened

Key Points

• Boardwalk REIT shares fell below their 50-day moving average, trading as low as C$61.70 versus the average of C$61.75; 128,815 shares changed hands.
• Analysts’ consensus rating is “Moderate Buy”, with an average price target of C$77.47. Seven analysts rate the stock Buy and three rate it Hold.
• 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 share—C$1.80 annualized, representing a 2.9% yield.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN - Get Free Report) passed below its 50 day moving average during trading on Monday. The stock has a 50 day moving average of C$61.75 and traded as low as C$61.70. Boardwalk Real Estate Investment Trust shares last traded at C$61.70, with a volume of 128,815 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on BEI.UN shares. Scotiabank reduced 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. Scotia lowered their price objective on shares of 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, November 5th. Raymond James Financial raised their target price on shares of Boardwalk Real Estate Investment Trust from C$72.50 to C$73.00 and gave the stock an "outperform" rating in a report on Thursday, November 5th. ATB Cormark Capital Markets cut their target price on shares of Boardwalk Real Estate Investment Trust from C$80.00 to C$77.00 and set an "outperform" rating for the company in a research report on Thursday, November 5th. Finally, Royal Bank Of Canada decreased their target price on shares of Boardwalk Real Estate Investment Trust from C$84.00 to C$83.00 and set an "outperform" rating for the company in a research note on Thursday, November 5th. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of C$77.47.

Boardwalk Real Estate Investment Trust Trading Down 1.3%

The company has a market capitalization of C$3.22 billion, a P/E ratio of -47.46, a P/E/G ratio of 1.24 and a beta of 0.54. 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 has a 50 day moving average of C$61.75 and a 200-day moving average of C$64.55.

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 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 during the quarter. On average, research analysts predict that Boardwalk Real Estate Investment Trust will post 4.45 EPS for the current year.

Boardwalk Real Estate Investment Trust Announces Dividend

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