Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Receives C$81.06 Average Price Target from Brokerages

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) has received a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is C$81.06.

BEI.UN has been the topic of several recent research reports. BMO Capital Markets decreased their price target on Boardwalk Real Estate Investment Trust from C$77.00 to C$76.00 and set a “market perform” rating on the stock in a report on Monday, February 23rd. Desjardins dropped their price objective on Boardwalk Real Estate Investment Trust from C$79.00 to C$78.00 and set a “hold” rating for the company in a report on Monday, February 23rd. Raymond James Financial cut their target price on shares of Boardwalk Real Estate Investment Trust from C$83.00 to C$82.00 and set a “strong-buy” rating on the stock in a research report on Monday, February 23rd. Scotiabank reduced their target price on shares of Boardwalk Real Estate Investment Trust from C$78.00 to C$75.50 and set a “sector perform” rating on the stock in a research note on Monday, February 23rd. Finally, National Bank Financial lowered their price target on shares of Boardwalk Real Estate Investment Trust from C$81.00 to C$80.00 and set an “outperform” rating for the company in a research report on Monday, April 20th.

Boardwalk Real Estate Investment Trust Price Performance

BEI.UN opened at C$67.77 on Wednesday. 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 stock has a market capitalization of C$3.53 billion, a P/E ratio of 17.65, a price-to-earnings-growth ratio of 1.24 and a beta of 0.40. The company’s 50 day simple moving average is C$65.36 and its 200-day simple moving average is C$65.47. Boardwalk Real Estate Investment Trust has a one year low of C$60.75 and a one year high of C$75.37.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) last issued its quarterly earnings results on Friday, February 20th. The real estate investment trust reported C($1.21) earnings per share for the quarter. The company had revenue of C$164.85 million during the quarter. Boardwalk Real Estate Investment Trust had a net margin of 118.55% and a return on equity of 15.71%. Sell-side analysts anticipate that Boardwalk Real Estate Investment Trust will post 4.4537396 earnings per share for the current fiscal year.

Boardwalk Real Estate Investment Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 15th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Thursday, April 30th. This represents a c) dividend on an annualized basis and a yield of 2.7%. Boardwalk Real Estate Investment Trust’s dividend payout ratio (DPR) is presently 41.80%.

About Boardwalk Real Estate Investment Trust

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.