Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Price Target Lowered to C$81.00 at Royal Bank Of Canada

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) had its price objective lowered by Royal Bank Of Canada from C$82.00 to C$81.00 in a research report report published on Thursday morning,BayStreet.CA reports. The brokerage currently has an outperform rating on the real estate investment trust’s stock.

A number of other equities analysts also recently issued reports on the company. Scotiabank cut 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 research note on Monday, February 23rd. National Bank Financial cut their target price on Boardwalk Real Estate Investment Trust from C$81.00 to C$80.00 and set an “outperform” rating for the company in a research note on Monday, April 20th. BMO Capital Markets lowered their price target 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 report on Monday, February 23rd. Desjardins lowered their price target on Boardwalk Real Estate Investment Trust from C$78.00 to C$77.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Raymond James Financial lowered their price target on Boardwalk Real Estate Investment Trust from C$83.00 to C$82.00 and set a “strong-buy” rating on the stock in a report on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Boardwalk Real Estate Investment Trust currently has an average rating of “Moderate Buy” and an average target price of C$79.70.

Boardwalk Real Estate Investment Trust Stock Performance

Shares of BEI.UN stock opened at C$66.07 on Thursday. The company has a market cap of C$3.44 billion, a price-to-earnings ratio of 17.21, a price-to-earnings-growth ratio of 1.24 and a beta of 0.40. The stock has a 50 day simple moving average of C$65.37 and a 200-day simple moving average of C$65.49. Boardwalk Real Estate Investment Trust has a 12-month low of C$60.75 and a 12-month high of C$75.37. The company has a current ratio of 0.23, a quick ratio of 0.04 and a debt-to-equity ratio of 77.35.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) last issued its earnings results on Friday, February 20th. The real estate investment trust reported C($1.21) earnings per share (EPS) for the quarter. The business had revenue of C$164.85 million for the quarter. Boardwalk Real Estate Investment Trust had a return on equity of 15.71% and a net margin of 118.55%. On average, equities analysts forecast 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 declared a monthly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 15th will be issued a $0.15 dividend. The ex-dividend date is Friday, May 29th. This represents a c) dividend on an annualized basis and a dividend yield of 2.7%. Boardwalk Real Estate Investment Trust’s dividend payout ratio 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.