Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Share Price Crosses Below 200-Day Moving Average – Here’s Why

Boardwalk Real Estate Investment Trust (TSE:BEI.UN)’s stock price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$65.39 and traded as low as C$63.47. Boardwalk Real Estate Investment Trust shares last traded at C$63.55, with a volume of 61,070 shares.

Analysts Set New Price Targets

A number of brokerages have recently commented on BEI.UN. BMO Capital Markets cut their price target on shares of Boardwalk Real Estate Investment Trust from C$77.00 to C$76.00 and set a “market perform” rating on the stock in a report on Monday, February 23rd. Scotia cut 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 report on Thursday, May 7th. Scotiabank cut their price target on shares of Boardwalk Real Estate Investment Trust from C$78.00 to C$75.50 and set a “sector perform” rating on the stock in a report on Monday, February 23rd. Royal Bank Of Canada cut their price target 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 report on Thursday, May 7th. Finally, Raymond James Financial lowered shares of Boardwalk Real Estate Investment Trust from a “strong-buy” rating to an “outperform” rating and cut their price target for the stock from C$82.00 to C$80.00 in a report on Friday, May 8th. Six equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Boardwalk Real Estate Investment Trust has an average rating of “Moderate Buy” and a consensus price target of C$79.50.

Boardwalk Real Estate Investment Trust Trading Down 0.3%

The firm has a market cap of C$3.31 billion, a price-to-earnings ratio of 69.84, a price-to-earnings-growth ratio of 1.24 and a beta of 0.40. 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 fifty day moving average is C$65.04 and its 200-day moving average is C$65.39.

Boardwalk Real Estate Investment Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 15th will be issued a $0.15 dividend. The ex-dividend date is Friday, May 29th. This represents a c) annualized dividend and a yield of 2.8%. Boardwalk Real Estate Investment Trust’s payout ratio is presently 181.32%.

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.