Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Upgraded to Strong-Buy at Raymond James Financial

Raymond James Financial upgraded shares of Boardwalk Real Estate Investment Trust (TSE:BEI.UN) from an outperform rating to a strong-buy rating in a report published on Wednesday,BayStreet.CA reports. Raymond James Financial currently has C$83.00 price target on the real estate investment trust’s stock, up from their prior price target of C$80.00.

Several other equities analysts have also recently issued reports on the stock. National Bankshares boosted their target price on shares of Boardwalk Real Estate Investment Trust from C$82.50 to C$85.00 and gave the company an “outperform” rating in a research note on Wednesday, October 8th. TD Securities cut their price objective on shares of Boardwalk Real Estate Investment Trust from C$88.00 to C$85.00 and set a “buy” rating for the company in a report on Friday, December 12th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Boardwalk Real Estate Investment Trust currently has an average rating of “Buy” and an average price target of C$82.94.

Boardwalk Real Estate Investment Trust Stock Performance

Shares of BEI.UN stock opened at C$68.63 on Wednesday. Boardwalk Real Estate Investment Trust has a 52-week low of C$59.10 and a 52-week high of C$75.37. The company has a quick ratio of 0.04, a current ratio of 0.23 and a debt-to-equity ratio of 77.35. The stock has a market cap of C$3.66 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 1.24 and a beta of 0.67. The business has a 50-day simple moving average of C$64.41 and a 200-day simple moving average of C$67.71.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) last announced its quarterly earnings results on Wednesday, November 5th. The real estate investment trust reported C$0.66 earnings per share for the quarter. Boardwalk Real Estate Investment Trust had a return on equity of 15.71% and a net margin of 118.55%.The company had revenue of C$160.77 million during the quarter. On average, equities analysts expect that Boardwalk Real Estate Investment Trust will post 4.4537396 EPS for the current year.

Boardwalk Real Estate Investment Trust Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 15th were issued a $0.135 dividend. This represents a c) annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Friday, November 28th. Boardwalk Real Estate Investment Trust’s payout ratio is presently 31.90%.

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.