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 mid-day trading on Tuesday . The company traded as low as C$67.15 and last traded at C$67.17, with a volume of 177721 shares. The stock had previously closed at C$67.72.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. National Bankshares reduced their price target on shares of Boardwalk Real Estate Investment Trust from C$96.00 to C$90.00 in a report on Thursday, November 7th. Raymond James reduced their target price on shares of Boardwalk Real Estate Investment Trust from C$98.00 to C$91.00 in a research note on Thursday, November 7th. Scotiabank lowered their price target on Boardwalk Real Estate Investment Trust from C$84.75 to C$81.75 in a research note on Thursday, November 7th. BMO Capital Markets lowered Boardwalk Real Estate Investment Trust from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from C$84.00 to C$73.00 in a report on Wednesday. Finally, Royal Bank of Canada cut their target price on Boardwalk Real Estate Investment Trust from C$98.00 to C$90.00 in a research note on Thursday, November 7th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Boardwalk Real Estate Investment Trust has a consensus rating of “Moderate Buy” and an average price target of C$85.88.

Boardwalk Real Estate Investment Trust Stock Performance

The stock has a market cap of C$3.10 billion, a P/E ratio of 4.64, a PEG ratio of 1.24 and a beta of 1.76. The stock has a fifty day simple moving average of C$72.70 and a 200-day simple moving average of C$76.24. The company has a quick ratio of 0.04, a current ratio of 0.23 and a debt-to-equity ratio of 77.35.

Boardwalk Real Estate Investment Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 15th were paid a dividend of $0.12 per share. This represents a $1.44 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend was Thursday, October 31st. Boardwalk Real Estate Investment Trust’s payout ratio is 10.66%.

Insider Activity at Boardwalk Real Estate Investment Trust

In other Boardwalk Real Estate Investment Trust news, Director Scott Andrew Morrison bought 650 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was acquired at an average cost of C$64.76 per share, with a total value of C$42,094.98. Corporate insiders own 17.92% of the company’s stock.

About Boardwalk Real Estate Investment Trust

Boardwalk REIT strives to be Canada's friendliest community provider and is a leading owner/operator of multi-family rental communities. Providing homes in more than 200 communities, with over 34,000 residential suites totaling over 29 million net rentable square feet, Boardwalk has a proven long-term track record of building better communities, where love always lives.