Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Price Target Cut to C$90.00 by Analysts at Royal Bank of Canada

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) had its price objective cut by Royal Bank of Canada from C$98.00 to C$90.00 in a report published on Thursday,BayStreet.CA reports.

BEI.UN has been the subject of a number of other reports. CIBC lifted their price target on shares of Boardwalk Real Estate Investment Trust from C$81.00 to C$86.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Raymond James downgraded Boardwalk Real Estate Investment Trust from a “strong-buy” rating to an “outperform” rating and increased their price target for the stock from C$96.00 to C$100.00 in a report on Friday, September 6th. BMO Capital Markets dropped their price objective on Boardwalk Real Estate Investment Trust from C$90.00 to C$87.00 in a report on Monday, October 28th. National Bankshares reduced their target price on Boardwalk Real Estate Investment Trust from C$96.00 to C$90.00 in a research note on Thursday. Finally, Scotiabank lowered their target price on shares of Boardwalk Real Estate Investment Trust from C$84.75 to C$81.75 in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$87.28.

Boardwalk Real Estate Investment Trust Price Performance

BEI.UN stock traded down C$0.15 during mid-day trading on Thursday, hitting C$71.96. The company had a trading volume of 18,594 shares, compared to its average volume of 123,814. The company has a market capitalization of C$3.55 billion, a price-to-earnings ratio of 5.34, a P/E/G ratio of 1.24 and a beta of 1.76. The company has a 50-day moving average price of C$82.63 and a 200 day moving average price of C$76.83. The company has a quick ratio of 0.04, a current ratio of 0.23 and a debt-to-equity ratio of 77.35. Boardwalk Real Estate Investment Trust has a 12-month low of C$64.40 and a 12-month high of C$91.81.

Boardwalk Real Estate Investment Trust Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 15th will be issued a $0.12 dividend. This represents a $1.44 annualized dividend and a yield of 2.00%. The ex-dividend date is Thursday, October 31st. Boardwalk Real Estate Investment Trust’s payout ratio is presently 10.66%.

Insider Transactions at Boardwalk Real Estate Investment Trust

In related news, Senior Officer James Ha sold 8,100 shares of Boardwalk Real Estate Investment Trust stock in a transaction dated Monday, September 9th. The stock was sold at an average price of C$87.60, for a total value of C$709,560.00. Corporate insiders own 17.92% of the company’s stock.

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.