Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Hits New 12-Month Low – Here’s Why

Shares of Boardwalk Real Estate Investment Trust (TSE:BEI.UN) hit a new 52-week low during trading on Thursday. The company traded as low as C$60.09 and last traded at C$60.12, with a volume of 590 shares traded. The stock had previously closed at C$61.13.

Analyst Ratings Changes

A number of research firms recently weighed in on BEI.UN. National Bank Financial raised their target price on shares of Boardwalk Real Estate Investment Trust from C$79.00 to C$81.00 and gave the company an “outperform” rating in a research report on Thursday, July 30th. Royal Bank Of Canada boosted their price target on shares of Boardwalk Real Estate Investment Trust from C$81.00 to C$84.00 and gave the stock an “outperform” rating in a research report on Thursday, July 30th. Finally, Scotiabank reduced their price objective on shares of Boardwalk Real Estate Investment Trust from C$74.50 to C$74.00 and set a “sector perform” rating for the company in a research note on Thursday, July 30th. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$79.28.

Boardwalk Real Estate Investment Trust Price Performance

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 company’s 50-day simple moving average is C$63.11 and its 200-day simple moving average is C$64.43. The stock has a market capitalization of C$3.03 billion, a P/E ratio of -70.80, a price-to-earnings-growth ratio of 1.24 and a beta of 0.56.

Boardwalk Real Estate Investment Trust Announces Dividend

The company also recently announced a monthly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 15th were issued a $0.15 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Monday, August 31st. Boardwalk Real Estate Investment Trust’s dividend payout ratio is presently -199.41%.

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.