Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Reaches New 1-Year Low – Here’s Why

Boardwalk Real Estate Investment Trust (TSE:BEI.UN)’s stock price reached a new 52-week low on Wednesday. The stock traded as low as C$59.93 and last traded at C$60.00, with a volume of 157,991 shares trading hands. The stock had previously closed at C$61.07.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on BEI.UN shares. Scotia lowered their price objective on shares of Boardwalk Real Estate Investment Trust from C$74.00 to C$73.50 and set a “sector perform” rating for the company in a research report on Thursday, November 5th. Scotiabank cut their price objective on Boardwalk Real Estate Investment Trust from C$74.50 to C$74.00 and set a “sector perform” rating on the stock in a report on Thursday, July 30th. ATB Cormark Capital Markets reduced their price objective on Boardwalk Real Estate Investment Trust from C$80.00 to C$77.00 and set an “outperform” rating on the stock in a research report on Thursday, November 5th. Raymond James Financial increased their target price on Boardwalk Real Estate Investment Trust from C$72.50 to C$73.00 and gave the company an “outperform” rating in a research report on Thursday, November 5th. Finally, National Bank Financial dropped their price objective on shares of Boardwalk Real Estate Investment Trust from C$81.00 to C$74.25 and set an “outperform” rating for the company in a report on Wednesday, October 21st. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Boardwalk Real Estate Investment Trust presently has a consensus rating of “Moderate Buy” and a consensus price target of C$77.47.

Boardwalk Real Estate Investment Trust Stock Performance

The stock has a fifty day simple moving average of C$61.72 and a two-hundred day simple moving average of C$64.51. 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 capitalization of C$3.12 billion, a price-to-earnings ratio of -46.09, a P/E/G ratio of 1.24 and a beta of 0.54.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) last posted its quarterly earnings results on Tuesday, November 3rd. The real estate investment trust reported C$0.19 earnings per share for the quarter. Boardwalk Real Estate Investment Trust had a net margin of 118.55% and a return on equity of 15.71%. The firm had revenue of C$159.82 million during the quarter. Analysts forecast that Boardwalk Real Estate Investment Trust will post 4.45 earnings per share for the current fiscal year.

Boardwalk Real Estate Investment Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, November 16th will be issued a dividend of $0.15 per share. This represents a $1.80 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Friday, October 30th. Boardwalk Real Estate Investment Trust’s payout ratio is currently -133.85%.

Boardwalk Real Estate Investment Trust Company Profile

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.