Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Sets New 52-Week Low – Here’s Why

Boardwalk Real Estate Investment Trust (TSE:BEI.UN)’s stock price reached a new 52-week low on Wednesday . The company traded as low as C$62.35 and last traded at C$62.75, with a volume of 5655 shares. The stock had previously closed at C$63.22.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Scotiabank cut their target price on shares of Boardwalk Real Estate Investment Trust from C$84.75 to C$81.75 in a research report on Thursday, November 7th. Royal Bank of Canada reduced their price objective on shares of Boardwalk Real Estate Investment Trust from C$98.00 to C$90.00 in a research note on Thursday, November 7th. National Bankshares dropped their target price on Boardwalk Real Estate Investment Trust from C$96.00 to C$90.00 in a research report on Thursday, November 7th. BMO Capital Markets lowered Boardwalk Real Estate Investment Trust from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from C$84.00 to C$73.00 in a research report on Wednesday, December 18th. Finally, Raymond James decreased their price objective on Boardwalk Real Estate Investment Trust from C$98.00 to C$91.00 in a research note on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Boardwalk Real Estate Investment Trust has a consensus rating of “Moderate Buy” and a consensus target price of C$85.88.

Boardwalk Real Estate Investment Trust Stock Performance

The company has a current ratio of 0.23, a quick ratio of 0.04 and a debt-to-equity ratio of 77.35. The company has a market cap of C$3.05 billion, a PE ratio of 4.57, a P/E/G ratio of 1.24 and a beta of 1.76. The firm’s 50-day simple moving average is C$67.90 and its two-hundred day simple moving average is C$75.45.

Boardwalk Real Estate Investment Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, February 17th. Investors of record on Monday, February 17th will be given a $0.12 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.33%. The ex-dividend date is Friday, January 31st. Boardwalk Real Estate Investment Trust’s payout ratio is 10.66%.

Insider Buying and Selling

In related news, Director Scott Andrew Morrison acquired 650 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was acquired at an average price of C$64.76 per share, with a total value of C$42,094.98. 17.92% of the stock is currently owned by company insiders.

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.