Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Shares of Boardwalk Real Estate Investment Trust (TSE:BEI.UN) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$67.57 and traded as high as C$68.44. Boardwalk Real Estate Investment Trust shares last traded at C$67.82, with a volume of 111,517 shares.

Analyst Upgrades and Downgrades

BEI.UN has been the topic of several research reports. Raymond James Financial upgraded Boardwalk Real Estate Investment Trust from an “outperform” rating to a “strong-buy” rating and raised their price objective for the stock from C$80.00 to C$83.00 in a report on Wednesday, January 14th. National Bankshares raised their price target on Boardwalk Real Estate Investment Trust from C$82.50 to C$85.00 and gave the company an “outperform” rating in a research note on Wednesday, October 8th. Finally, TD Securities lowered their price objective on shares of Boardwalk Real Estate Investment Trust from C$88.00 to C$85.00 and set a “buy” rating for the company in a research note on Friday, December 12th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Boardwalk Real Estate Investment Trust presently has an average rating of “Buy” and an average price target of C$82.94.

Boardwalk Real Estate Investment Trust Stock 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 firm has a market capitalization of C$3.67 billion, a P/E ratio of 14.08, a price-to-earnings-growth ratio of 1.24 and a beta of 0.67. The stock has a 50-day moving average of C$65.33 and a 200 day moving average of C$67.55.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) last announced its quarterly earnings data on Wednesday, November 5th. The real estate investment trust reported C$0.66 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 business had revenue of C$160.77 million for the quarter. On average, research analysts anticipate that Boardwalk Real Estate Investment Trust will post 4.4537396 earnings per share for the current year.

Boardwalk Real Estate Investment Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 15th were given a $0.135 dividend. The ex-dividend date was Friday, November 28th. This represents a c) annualized dividend and a dividend yield of 2.4%. Boardwalk Real Estate Investment Trust’s payout ratio is currently 31.90%.

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.