Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$65.16 and traded as high as C$69.33. Boardwalk Real Estate Investment Trust shares last traded at C$69.24, with a volume of 95,365 shares changing hands.

Analyst Ratings Changes

A number of research analysts have issued reports on BEI.UN shares. TD Securities boosted their target price on shares of Boardwalk Real Estate Investment Trust from C$84.00 to C$85.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. Raymond James Financial boosted their target price on shares of Boardwalk Real Estate Investment Trust from C$80.00 to C$84.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. BMO Capital Markets boosted their target price on shares of Boardwalk Real Estate Investment Trust from C$73.00 to C$75.00 in a report on Monday, May 12th. National Bankshares lowered shares of Boardwalk Real Estate Investment Trust from an “outperform” rating to a “sector perform” rating and cut their price target for the company from C$80.00 to C$72.00 in a report on Monday, April 14th. Finally, CIBC decreased their price objective on shares of Boardwalk Real Estate Investment Trust from C$86.00 to C$80.00 in a research note on Monday, February 24th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of C$80.64.

Boardwalk Real Estate Investment Trust Stock Performance

The company has a current ratio of 0.23, a quick ratio of 0.04 and a debt-to-equity ratio of 77.35. The stock has a market capitalization of C$3.42 billion, a PE ratio of 5.13, a PEG ratio of 1.24 and a beta of 1.76. The firm’s 50-day simple moving average is C$66.20 and its two-hundred day simple moving average is C$65.16.

Boardwalk Real Estate Investment Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 16th were given a dividend of $0.135 per share. This represents a $1.62 annualized dividend and a yield of 2.34%. The ex-dividend date was Friday, May 30th. Boardwalk Real Estate Investment Trust’s payout ratio is 10.66%.

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.