Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Downgraded by Raymond James Financial to Outperform

Raymond James Financial lowered shares of Boardwalk Real Estate Investment Trust (TSE:BEI.UN) from a strong-buy rating to an outperform rating in a research report sent to investors on Friday morning,BayStreet.CA reports. Raymond James Financial currently has C$80.00 price objective on the real estate investment trust’s stock, down from their previous price objective of C$82.00.

Several other brokerages also recently issued reports on BEI.UN. Desjardins dropped their target price on shares of Boardwalk Real Estate Investment Trust from C$78.00 to C$77.00 and set a “buy” rating on the stock in a research note on Thursday. National Bank Financial dropped their target price on shares of Boardwalk Real Estate Investment Trust from C$81.00 to C$80.00 and set an “outperform” rating on the stock in a research note on Monday, April 20th. Scotiabank dropped 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. 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 for the company in a research note on Monday, February 23rd. Finally, TD decreased their price target on Boardwalk Real Estate Investment Trust from C$85.00 to C$82.00 and set a “buy” rating for the company in a research note on Thursday. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$79.50.

Boardwalk Real Estate Investment Trust Trading Down 1.8%

TSE BEI.UN opened at C$64.91 on Friday. Boardwalk Real Estate Investment Trust has a 12 month low of C$60.75 and a 12 month high of C$75.37. The stock has a market cap of C$3.38 billion, a P/E ratio of 71.33, a P/E/G ratio of 1.24 and a beta of 0.40. The stock’s fifty day moving average price is C$65.37 and its 200-day moving average price is C$65.49. The company has a current ratio of 0.23, a quick ratio of 0.04 and a debt-to-equity ratio of 77.35.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) last released its earnings results on Friday, February 20th. The real estate investment trust reported C($1.21) EPS for the quarter. The company had revenue of C$164.85 million during the quarter. Boardwalk Real Estate Investment Trust had a return on equity of 15.71% and a net margin of 118.55%. As a group, equities analysts forecast that Boardwalk Real Estate Investment Trust will post 4.4537396 EPS 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 Monday, June 15th. Stockholders of record on Monday, June 15th will be paid a $0.15 dividend. This represents a c) annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Friday, May 29th. Boardwalk Real Estate Investment Trust’s dividend payout ratio is 181.32%.

Key Stories Impacting Boardwalk Real Estate Investment Trust

Here are the key news stories impacting Boardwalk Real Estate Investment Trust this week:

• Positive Sentiment: Raymond James lowered its price target to C$80 from C$82 but kept an outperform rating, implying further upside from the current share price. BayStreet.CA analyst rating update
• Positive Sentiment: RBC, TD, and Desjardins all maintained favorable views on Boardwalk Real Estate Investment Trust (BEI.UN) with outperform or buy ratings, suggesting analysts still see meaningful upside despite slightly lower targets. Tickerreport.com analyst rating update
• Neutral Sentiment: RBC trimmed its target to C$81 from C$82, TD cut its target to C$82 from C$85, and Desjardins reduced its target to C$77 from C$78; these are small adjustments and do not change the broader bullish tone. BayStreet.CA analyst rating update
• Neutral Sentiment: Scotia was the most cautious of the group, lowering its target to C$74.50 from C$75.50 and keeping a sector perform rating, which signals more limited near-term conviction. BayStreet.CA analyst rating update
• Negative Sentiment: The stock may be under pressure because Raymond James’ downgrade from strong-buy to outperform removes some of the most bullish conviction on the name, even though the target still suggests upside. BayStreet.CA analyst rating update

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.