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) reached a new 52-week low on Thursday. The company traded as low as C$60.09 and last traded at C$60.12, with a volume of 590 shares trading hands. The stock had previously closed at C$61.13.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Scotiabank decreased their price objective on Boardwalk Real Estate Investment Trust from C$74.50 to C$74.00 and set a “sector perform” rating for the company in a research note on Thursday, July 30th. National Bank Financial lifted their price objective on shares of Boardwalk Real Estate Investment Trust from C$79.00 to C$81.00 and gave the stock an “outperform” rating in a research note on Thursday, July 30th. Finally, Royal Bank Of Canada upped their target price on shares of Boardwalk Real Estate Investment Trust from C$81.00 to C$84.00 and gave the company an “outperform” rating in a research note on Thursday, July 30th. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Boardwalk Real Estate Investment Trust presently has an average rating of “Moderate Buy” and an average target price of C$79.28.

Boardwalk Real Estate Investment Trust Stock Performance

The stock has a market capitalization of C$3.03 billion, a price-to-earnings ratio of -70.80, a price-to-earnings-growth ratio of 1.24 and a beta of 0.56. 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’s 50 day moving average is C$63.11 and its two-hundred day moving average is C$64.43.

Boardwalk Real Estate Investment Trust Announces Dividend

The company also recently declared a monthly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 15th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, August 31st. This represents a $1.80 dividend on an annualized basis and a yield of 3.0%. Boardwalk Real Estate Investment Trust’s dividend payout ratio is -199.41%.

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.