BMO Capital Markets Cuts Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Price Target to C$76.00

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) had its price target cut by BMO Capital Markets from C$77.00 to C$76.00 in a research note published on Monday,BayStreet.CA reports. They currently have a market perform rating on the real estate investment trust’s stock.

A number of other research firms have also recently issued reports on BEI.UN. TD Securities cut their target price on shares of Boardwalk Real Estate Investment Trust from C$88.00 to C$85.00 and set a “buy” rating for the company in a research note on Friday, December 12th. Desjardins cut their price objective on shares of Boardwalk Real Estate Investment Trust from C$79.00 to C$78.00 and set a “hold” rating for the company in a research report on Monday. Raymond James Financial upgraded Boardwalk Real Estate Investment Trust from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the stock from C$80.00 to C$83.00 in a report on Wednesday, January 14th. Finally, National Bank Financial lowered their target price on Boardwalk Real Estate Investment Trust from C$82.50 to C$81.00 and set an “outperform” rating on the stock in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$81.19.

Boardwalk Real Estate Investment Trust Trading Up 1.2%

Boardwalk Real Estate Investment Trust stock opened at C$66.90 on Monday. The stock has a 50-day simple moving average of C$66.99 and a 200 day simple moving average of C$66.98. The stock has a market capitalization of C$3.56 billion, a P/E ratio of 13.68, a PEG ratio of 1.24 and a beta of 0.55. The company has a debt-to-equity ratio of 77.35, a quick ratio of 0.04 and a current ratio of 0.23. Boardwalk Real Estate Investment Trust has a 52 week low of C$59.10 and a 52 week high of C$75.37.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) last issued its earnings results on Thursday, February 19th. The real estate investment trust reported C($1.21) 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 business had revenue of C$164.85 million for the quarter. Analysts expect that Boardwalk Real Estate Investment Trust will post 4.4537396 earnings per share for the current year.

Boardwalk Real Estate Investment Trust Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 15th were given a dividend of $0.135 per share. The ex-dividend date of this dividend was Friday, November 28th. This represents a c) dividend on an annualized basis and a yield of 2.4%. Boardwalk Real Estate Investment Trust’s dividend payout ratio is currently 31.90%.

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.