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

Shares of Boardwalk Real Estate Investment Trust (TSE:BEI.UN) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as C$59.53 and last traded at C$61.15, with a volume of 26492 shares changing hands. The stock had previously closed at C$62.65.

Analyst Upgrades and Downgrades

BEI.UN has been the subject of a number of research analyst reports. TD Securities cut their price target on shares of Boardwalk Real Estate Investment Trust from C$100.00 to C$95.00 and set a “buy” rating for the company in a report on Thursday, November 7th. BMO Capital Markets lowered Boardwalk Real Estate Investment Trust from an “outperform” rating to a “market perform” rating and dropped their price target for the company from C$84.00 to C$73.00 in a research report on Wednesday, December 18th. Royal Bank of Canada cut their target price on shares of Boardwalk Real Estate Investment Trust from C$98.00 to C$90.00 in a research report on Thursday, November 7th. National Bankshares reduced their price target on Boardwalk Real Estate Investment Trust from C$96.00 to C$90.00 in a report on Thursday, November 7th. Finally, Scotiabank decreased their price objective on shares of Boardwalk Real Estate Investment Trust from C$84.75 to C$81.75 in a report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$85.53.

Boardwalk Real Estate Investment Trust Stock Up 2.0 %

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 firm’s 50 day moving average is C$64.87 and its two-hundred day moving average is C$74.59. The firm has a market cap of C$3.16 billion, a P/E ratio of 4.73, a price-to-earnings-growth ratio of 1.24 and a beta of 1.76.

Boardwalk Real Estate Investment Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, February 17th. Stockholders of record on Monday, February 17th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.25%. Boardwalk Real Estate Investment Trust’s dividend payout ratio (DPR) is presently 10.66%.

Insider Buying and Selling at Boardwalk Real Estate Investment Trust

In related news, Director Scott Andrew Morrison purchased 650 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were acquired at an average price of C$64.76 per share, for a total transaction of C$42,094.98. Corporate insiders own 17.92% of the company’s stock.

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.