Scotiabank Lowers Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Price Target to C$81.75

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) had its price target reduced by Scotiabank from C$84.75 to C$81.75 in a research note issued to investors on Thursday,BayStreet.CA reports.

Several other equities research analysts also recently weighed in on the stock. Raymond James downgraded shares of Boardwalk Real Estate Investment Trust from a “strong-buy” rating to an “outperform” rating and upped their price objective for the stock from C$96.00 to C$100.00 in a report on Friday, September 6th. BMO Capital Markets dropped their price target on Boardwalk Real Estate Investment Trust from C$90.00 to C$87.00 in a research note on Monday, October 28th. Royal Bank of Canada raised their target price on shares of Boardwalk Real Estate Investment Trust from C$88.00 to C$98.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. CIBC raised their price objective on shares of Boardwalk Real Estate Investment Trust from C$81.00 to C$86.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Finally, National Bankshares decreased their price target on Boardwalk Real Estate Investment Trust from C$96.00 to C$90.00 in a research note on Thursday. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$87.28.

Boardwalk Real Estate Investment Trust Stock Performance

Shares of TSE BEI.UN traded down C$0.15 during mid-day trading on Thursday, hitting C$71.96. The company had a trading volume of 18,594 shares, compared to its average volume of 123,814. Boardwalk Real Estate Investment Trust has a 12 month low of C$64.40 and a 12 month high of C$91.81. The company has a debt-to-equity ratio of 77.35, a current ratio of 0.23 and a quick ratio of 0.04. The firm’s 50 day simple moving average is C$82.63 and its two-hundred day simple moving average is C$76.83. The stock has a market cap of C$3.55 billion, a price-to-earnings ratio of 5.34, a PEG ratio of 1.24 and a beta of 1.76.

Boardwalk Real Estate Investment Trust Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 15th will be given a $0.12 dividend. This represents a $1.44 annualized dividend and a yield of 2.00%. The ex-dividend date is Thursday, October 31st. Boardwalk Real Estate Investment Trust’s dividend payout ratio is currently 10.66%.

Insider Activity at Boardwalk Real Estate Investment Trust

In related news, Senior Officer James Ha sold 8,100 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of C$87.60, for a total transaction of C$709,560.00. 17.92% of the stock is owned by corporate insiders.

About Boardwalk Real Estate Investment Trust

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.