Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Boardwalk Real Estate Investment Trust (TSE:BEI.UN)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$65.77 and traded as high as C$67.07. Boardwalk Real Estate Investment Trust shares last traded at C$66.67, with a volume of 125,604 shares changing hands.

Analysts Set New Price Targets

BEI.UN has been the topic of several research reports. Scotia reduced their price target on shares of Boardwalk Real Estate Investment Trust from C$75.50 to C$74.50 and set a “sector perform” rating on the stock in a research report on Thursday, May 7th. Raymond James Financial cut shares of Boardwalk Real Estate Investment Trust from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the company from C$82.00 to C$80.00 in a research report on Friday, May 8th. Desjardins dropped their target price on shares of Boardwalk Real Estate Investment Trust from C$78.00 to C$77.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Royal Bank Of Canada reduced their target price on shares of Boardwalk Real Estate Investment Trust from C$82.00 to C$81.00 and set an “outperform” rating on the stock in a research report on Thursday, May 7th. Finally, National Bank Financial decreased their price target on shares of Boardwalk Real Estate Investment Trust from C$81.00 to C$80.00 and set an “outperform” rating on the stock in a research note on Monday, April 20th. Six research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$79.50.

Boardwalk Real Estate Investment Trust Stock Performance

The stock has a market capitalization of C$3.46 billion, a price-to-earnings ratio of 73.26, a price-to-earnings-growth ratio of 1.24 and a beta of 0.53. 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 stock has a 50-day moving average of C$64.87 and a 200 day moving average of C$65.77.

Boardwalk Real Estate Investment Trust Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, August 17th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 2.7%. Boardwalk Real Estate Investment Trust’s payout ratio is currently 181.32%.

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.