Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Hits New 52-Week Low on Analyst Downgrade

Shares of Boardwalk Real Estate Investment Trust (TSE:BEI.UN) hit a new 52-week low during trading on Tuesday after Raymond James lowered their price target on the stock from C$91.00 to C$82.00. The stock traded as low as C$61.07 and last traded at C$61.80, with a volume of 137135 shares traded. The stock had previously closed at C$61.75.

Several other brokerages also recently issued reports on BEI.UN. BMO Capital Markets downgraded shares of Boardwalk Real Estate Investment Trust from an “outperform” rating to a “market perform” rating and reduced their price target for the company from C$84.00 to C$73.00 in a report on Wednesday, December 18th. Scotiabank dropped their price target on shares of Boardwalk Real Estate Investment Trust from C$84.75 to C$81.75 in a research report on Thursday, November 7th. TD Securities dropped their price target on shares of Boardwalk Real Estate Investment Trust from C$100.00 to C$95.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. National Bankshares cut their price objective on Boardwalk Real Estate Investment Trust from C$96.00 to C$90.00 in a report on Thursday, November 7th. Finally, Royal Bank of Canada cut their price objective on Boardwalk Real Estate Investment Trust from C$98.00 to C$90.00 in a report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$84.98.

Insider Activity at Boardwalk Real Estate Investment Trust

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

Boardwalk Real Estate Investment Trust Stock Up 1.3 %

The firm has a fifty day moving average price of C$67.10 and a 200 day moving average price of C$75.27. The company has a market cap of C$3.06 billion, a P/E ratio of 4.58, a PEG ratio of 1.24 and a beta of 1.76. The company has a quick ratio of 0.04, a current ratio of 0.23 and a debt-to-equity ratio of 77.35.

Boardwalk Real Estate Investment Trust Dividend Announcement

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

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.