Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Receives C$81.19 Consensus Target Price from Brokerages

Shares of Boardwalk Real Estate Investment Trust (TSE:BEI.UN) have received an average recommendation of “Moderate Buy” from the eight brokerages that are presently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is C$81.19.

A number of brokerages have recently issued reports on BEI.UN. BMO Capital Markets reduced their price objective on Boardwalk Real Estate Investment Trust from C$77.00 to C$76.00 and set a “market perform” rating on the stock in a research note on Monday, February 23rd. Raymond James Financial lowered their target price on Boardwalk Real Estate Investment Trust from C$83.00 to C$82.00 and set a “strong-buy” rating for the company in a research note on Monday, February 23rd. Scotiabank dropped their target price on Boardwalk Real Estate Investment Trust from C$78.00 to C$75.50 and set a “sector perform” rating for the company in a report on Monday, February 23rd. Desjardins reduced their price target on Boardwalk Real Estate Investment Trust from C$79.00 to C$78.00 and set a “hold” rating on the stock in a research report on Monday, February 23rd. Finally, TD Securities decreased their price target on Boardwalk Real Estate Investment Trust from C$88.00 to C$85.00 and set a “buy” rating on the stock in a research note on Friday, December 12th.

Boardwalk Real Estate Investment Trust Price Performance

Shares of Boardwalk Real Estate Investment Trust stock opened at C$62.48 on Friday. Boardwalk Real Estate Investment Trust has a 52-week low of C$59.10 and a 52-week high of C$75.37. The stock has a market capitalization of C$3.31 billion, a price-to-earnings ratio of 16.27, a price-to-earnings-growth ratio of 1.24 and a beta of 0.40. The company has a fifty day moving average of C$66.09 and a 200-day moving average of C$65.99. The company has a debt-to-equity ratio of 77.35, a quick ratio of 0.04 and a current ratio of 0.23.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) last released its earnings results on Thursday, February 19th. The real estate investment trust reported C($1.21) EPS for the quarter. The business had revenue of C$164.85 million for the quarter. Boardwalk Real Estate Investment Trust had a net margin of 118.55% and a return on equity of 15.71%. Equities research analysts expect that Boardwalk Real Estate Investment Trust will post 4.4537396 EPS for the current year.

Boardwalk Real Estate Investment Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 15th will be issued a $0.15 dividend. The ex-dividend date is Tuesday, March 31st. This represents a c) annualized dividend and a dividend yield of 2.9%. Boardwalk Real Estate Investment Trust’s dividend payout ratio (DPR) is currently 41.80%.

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. The submarkets around the cities of Calgary and Edmonton, specifically, account for the majority of Boardwalk REIT’s total residential suites.