Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Boardwalk Real Estate Investment Trust (TSE:BEI.UN)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$65.50 and traded as high as C$66.24. Boardwalk Real Estate Investment Trust shares last traded at C$66.07, with a volume of 90,769 shares changing hands.

Wall Street Analyst Weigh In

BEI.UN has been the subject of several analyst reports. Desjardins reduced their price objective on shares of Boardwalk Real Estate Investment Trust from C$78.00 to C$77.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Raymond James Financial downgraded shares of Boardwalk Real Estate Investment Trust from a “strong-buy” rating to an “outperform” rating and lowered their target price for the stock from C$82.00 to C$80.00 in a research report on Friday, May 8th. National Bank Financial cut their target price on Boardwalk Real Estate Investment Trust from C$81.00 to C$80.00 and set an “outperform” rating on the stock in a report on Monday, April 20th. Royal Bank Of Canada reduced their price target on Boardwalk Real Estate Investment Trust from C$82.00 to C$81.00 and set an “outperform” rating for the company in a research report on Thursday, May 7th. Finally, Scotia decreased their price target on Boardwalk Real Estate Investment Trust from C$75.50 to C$74.50 and set a “sector perform” rating for the company in a research note on Thursday, May 7th. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$79.50.

Boardwalk Real Estate Investment Trust Trading Up 1.9%

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’s fifty day moving average is C$65.13 and its 200-day moving average is C$65.50. The firm has a market capitalization of C$3.43 billion, a P/E ratio of 72.60, a P/E/G ratio of 1.24 and a beta of 0.56.

Boardwalk Real Estate Investment Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 15th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a c) dividend on an annualized basis and a yield of 2.7%. Boardwalk Real Estate Investment Trust’s payout ratio is currently 181.32%.

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.