Scotiabank Cuts Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Price Target to C$78.50

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) had its target price decreased by Scotiabank from C$79.50 to C$78.50 in a report released on Monday morning,BayStreet.CA reports.

Several other analysts have also commented on BEI.UN. Raymond James dropped their target price on Boardwalk Real Estate Investment Trust from C$91.00 to C$82.00 in a report on Monday, January 13th. 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 on the stock in a report on Thursday, November 7th. Royal Bank of Canada dropped their target price on Boardwalk Real Estate Investment Trust from C$98.00 to C$90.00 in a report on Thursday, November 7th. CIBC dropped their target price on Boardwalk Real Estate Investment Trust from C$86.00 to C$80.00 in a report on Monday. Finally, BMO Capital Markets lowered Boardwalk Real Estate Investment Trust from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from C$84.00 to C$73.00 in a report on Wednesday, December 18th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$84.31.

Boardwalk Real Estate Investment Trust Trading Down 0.7 %

Shares of TSE:BEI.UN opened at C$64.13 on Monday. Boardwalk Real Estate Investment Trust has a 52-week low of C$59.53 and a 52-week high of C$91.81. The stock has a market cap of C$3.17 billion, a price-to-earnings ratio of 4.75, a PEG ratio of 1.24 and a beta of 1.76. The company has a quick ratio of 0.04, a current ratio of 0.23 and a debt-to-equity ratio of 77.35. The business has a 50-day moving average price of C$63.28 and a 200-day moving average price of C$73.31.

Boardwalk Real Estate Investment Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 17th will be paid a $0.12 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Friday, February 28th. Boardwalk Real Estate Investment Trust’s dividend payout ratio is presently 10.66%.

Insider Transactions at Boardwalk Real Estate Investment Trust

In other news, Director Scott Andrew Morrison purchased 650 shares of the stock in a transaction dated Wednesday, December 18th. The shares were purchased at an average cost of C$64.76 per share, with a total value of C$42,094.98. 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.