Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Price Target Lowered to C$77.00 at Desjardins

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) had its price objective lowered by Desjardins from C$78.00 to C$77.00 in a research note released on Thursday morning,BayStreet.CA reports. The brokerage currently has a buy rating on the real estate investment trust’s stock.

Other equities analysts also recently issued research reports about the company. Scotiabank dropped their price target on 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 report on Monday, February 23rd. National Bank Financial decreased their price objective on Boardwalk Real Estate Investment Trust from C$81.00 to C$80.00 and set an “outperform” rating for the company in a research note on Monday, April 20th. Raymond James Financial decreased their price objective on Boardwalk Real Estate Investment Trust from C$83.00 to C$82.00 and set a “strong-buy” rating for the company in a research note on Monday, February 23rd. Finally, BMO Capital Markets decreased their price objective on Boardwalk Real Estate Investment Trust from C$77.00 to C$76.00 and set a “market perform” rating for the company in a research note on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$79.70.

Boardwalk Real Estate Investment Trust Price Performance

BEI.UN opened at C$66.07 on Thursday. Boardwalk Real Estate Investment Trust has a 12-month low of C$60.75 and a 12-month high of C$75.37. 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 business’s fifty day simple moving average is C$65.37 and its 200-day simple moving average is C$65.49. The company has a market capitalization of C$3.44 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 1.24 and a beta of 0.40.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) last posted its quarterly earnings results on Friday, February 20th. The real estate investment trust reported C($1.21) earnings per share (EPS) for the quarter. Boardwalk Real Estate Investment Trust had a return on equity of 15.71% and a net margin of 118.55%.The firm had revenue of C$164.85 million for the quarter. On average, equities research 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 business also recently disclosed a monthly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 15th will be paid a dividend of $0.15 per share. This represents a c) dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Friday, May 29th. Boardwalk Real Estate Investment Trust’s dividend payout ratio is 41.80%.

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.