Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Stock Breaks Below 50 Day Moving Average – Here’s Why

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) passed below its 50-day moving average during trading on Monday. The stock has a 50-day moving average of C$61.75 and traded as low as C$61.70. Boardwalk Real Estate Investment Trust shares last traded at C$61.70, with a volume of 128,815 shares changing hands.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. ATB Cormark Capital Markets reduced their price objective on shares of Boardwalk Real Estate Investment Trust from C$80.00 to C$77.00 and set an “outperform” rating on the stock in a research report on Thursday, November 5th. Scotia cut their target price on Boardwalk Real Estate Investment Trust from C$74.00 to C$73.50 and set a “sector perform” rating on the stock in a research note on Thursday, November 5th. Scotiabank reduced their price target on Boardwalk Real Estate Investment Trust from C$74.50 to C$74.00 and set a “sector perform” rating on the stock in a report on Thursday, July 30th. Royal Bank Of Canada dropped their price objective on Boardwalk Real Estate Investment Trust from C$84.00 to C$83.00 and set an “outperform” rating for the company in a report on Thursday, November 5th. Finally, Raymond James Financial upped their price objective on Boardwalk Real Estate Investment Trust from C$72.50 to C$73.00 and gave the company an “outperform” rating in a research report on Thursday, November 5th. Seven research analysts have rated the stock with a Buy rating and three have given a Hold 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$77.47.

Boardwalk Real Estate Investment Trust Stock Down 1.3%

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 company has a market capitalization of C$3.22 billion, a PE ratio of -47.46, a price-to-earnings-growth ratio of 1.24 and a beta of 0.54. The business’s 50-day simple moving average is C$61.75 and its 200-day simple moving average is C$64.55.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) last released its quarterly earnings data on Tuesday, November 3rd. The real estate investment trust reported C$0.19 earnings per share for the quarter. Boardwalk Real Estate Investment Trust had a return on equity of 15.71% and a net margin of 118.55%. The business had revenue of C$159.82 million during the quarter. As a group, equities research analysts anticipate that Boardwalk Real Estate Investment Trust will post 4.45 EPS for the current fiscal year.

Boardwalk Real Estate Investment Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 16th will be paid a $0.15 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Friday, October 30th. Boardwalk Real Estate Investment Trust’s payout ratio is currently -133.85%.

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.