Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Downgraded to Market Perform Rating by BMO Capital Markets

BMO Capital Markets lowered shares of Boardwalk Real Estate Investment Trust (TSE:BEI.UN) from an outperform rating to a market perform rating in a report released on Wednesday morning,BayStreet.CA reports. BMO Capital Markets currently has C$73.00 target price on the real estate investment trust’s stock, down from their previous target price of C$84.00.

Other equities analysts have also issued research reports about the stock. Scotiabank cut their price objective on shares of Boardwalk Real Estate Investment Trust from C$84.75 to C$81.75 in a research report on Thursday, November 7th. TD Securities dropped their target price on Boardwalk Real Estate Investment Trust from C$100.00 to C$95.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Raymond James decreased their price target on Boardwalk Real Estate Investment Trust from C$98.00 to C$91.00 in a research note on Thursday, November 7th. National Bankshares dropped their price objective on shares of Boardwalk Real Estate Investment Trust from C$96.00 to C$90.00 in a research note on Thursday, November 7th. Finally, Royal Bank of Canada decreased their target price on shares of Boardwalk Real Estate Investment Trust from C$98.00 to C$90.00 in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$85.88.

Boardwalk Real Estate Investment Trust Stock Performance

Shares of BEI.UN stock opened at C$63.76 on Wednesday. The stock has a fifty day moving average price of C$72.70 and a 200 day moving average price of C$76.24. The company has a debt-to-equity ratio of 77.35, a quick ratio of 0.04 and a current ratio of 0.23. The stock has a market cap of C$3.15 billion, a PE ratio of 4.72, a P/E/G ratio of 1.24 and a beta of 1.76. Boardwalk Real Estate Investment Trust has a 1 year low of C$63.47 and a 1 year high of C$91.81.

Boardwalk Real Estate Investment Trust Announces Dividend

The company also recently declared a monthly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 15th were paid a dividend of $0.12 per share. This represents a $1.44 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date was Thursday, October 31st. Boardwalk Real Estate Investment Trust’s payout ratio is currently 10.66%.

Insiders Place Their Bets

In related news, Director Scott Andrew Morrison bought 650 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were bought at an average cost of C$64.76 per share, with a total value of C$42,094.98. 17.92% of the stock is owned by company insiders.

About Boardwalk Real Estate Investment Trust

Boardwalk REIT strives to be Canada's friendliest community provider and is a leading owner/operator of multi-family rental communities. Providing homes in more than 200 communities, with over 34,000 residential suites totaling over 29 million net rentable square feet, Boardwalk has a proven long-term track record of building better communities, where love always lives.