Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Hits New 12-Month Low – Here’s Why

Boardwalk Real Estate Investment Trust (TSE:BEI.UN)’s stock price hit a new 52-week low during trading on Wednesday . The stock traded as low as C$59.10 and last traded at C$59.34, with a volume of 11078 shares traded. The stock had previously closed at C$60.32.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BEI.UN. BMO Capital Markets downgraded Boardwalk Real Estate Investment Trust from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from C$84.00 to C$73.00 in a report on Wednesday, December 18th. Scotiabank reduced their price target on shares of Boardwalk Real Estate Investment Trust from C$79.50 to C$78.50 in a research report on Monday, February 24th. CIBC dropped their price objective on shares of Boardwalk Real Estate Investment Trust from C$86.00 to C$80.00 in a research report on Monday, February 24th. Finally, Raymond James cut their target price on shares of Boardwalk Real Estate Investment Trust from C$91.00 to C$82.00 in a research note on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$84.07.

Boardwalk Real Estate Investment Trust Price Performance

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 business’s fifty day simple moving average is C$64.72 and its 200 day simple moving average is C$68.84. The stock has a market cap of C$2.99 billion, a price-to-earnings ratio of 4.48, a price-to-earnings-growth ratio of 1.24 and a beta of 1.76.

Boardwalk Real Estate Investment Trust Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 15th will be issued a $0.135 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $1.62 dividend on an annualized basis and a yield of 2.68%. This is an increase from Boardwalk Real Estate Investment Trust’s previous monthly dividend of $0.12. Boardwalk Real Estate Investment Trust’s dividend payout ratio is currently 10.66%.

Boardwalk Real Estate Investment Trust Company Profile

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.