Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Lowered to Market Perform Rating by BMO Capital Markets

BMO Capital Markets cut shares of Boardwalk Real Estate Investment Trust (TSE:BEI.UN) from an outperform rating to a market perform rating in a report issued on Wednesday,BayStreet.CA reports. They currently have C$73.00 price objective on the real estate investment trust’s stock, down from their previous price objective of C$84.00.

A number of other brokerages have also recently weighed in on BEI.UN. Scotiabank reduced their price target on Boardwalk Real Estate Investment Trust from C$84.75 to C$81.75 in a research report on Thursday, November 7th. Raymond James cut their price objective on shares of Boardwalk Real Estate Investment Trust from C$98.00 to C$91.00 in a research report on Thursday, November 7th. TD Securities lowered their price target on Boardwalk Real Estate Investment Trust from C$100.00 to C$95.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. National Bankshares reduced their price objective on Boardwalk Real Estate Investment Trust from C$96.00 to C$90.00 in a research report on Thursday, November 7th. Finally, Royal Bank of Canada reduced their target price on Boardwalk Real Estate Investment Trust from C$98.00 to C$90.00 in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$85.88.

Boardwalk Real Estate Investment Trust Price Performance

TSE BEI.UN opened at C$63.76 on Wednesday. The company has a 50 day moving average price of C$72.70 and a two-hundred day moving average price of C$76.24. Boardwalk Real Estate Investment Trust has a 12-month low of C$63.47 and a 12-month high of C$91.81. The stock has a market capitalization of C$3.15 billion, a PE ratio of 4.72, a price-to-earnings-growth ratio of 1.24 and a beta of 1.76. 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 Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 15th were given a $0.12 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.44 dividend on an annualized basis and a yield of 2.26%. Boardwalk Real Estate Investment Trust’s payout ratio is 10.66%.

Insiders Place Their Bets

In related news, Director Scott Andrew Morrison purchased 650 shares of the stock in a transaction dated Wednesday, December 18th. The stock was bought at an average cost of C$64.76 per share, with a total value of C$42,094.98. Company insiders own 17.92% of the company’s stock.

Boardwalk Real Estate Investment Trust Company Profile

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.