Desjardins Cuts Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Price Target to C$78.00

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) had its price objective reduced by Desjardins from C$79.00 to C$78.00 in a research note published on Monday,BayStreet.CA reports. They currently have a hold rating on the real estate investment trust’s stock.

BEI.UN has been the topic of several other reports. 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 report on Friday, December 12th. National Bank Financial raised their price objective on shares of Boardwalk Real Estate Investment Trust from C$80.00 to C$82.50 and gave the company an “outperform” rating in a research report on Thursday, February 5th. Finally, Raymond James Financial raised shares of Boardwalk Real Estate Investment Trust from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from C$80.00 to C$83.00 in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$81.19.

Boardwalk Real Estate Investment Trust Trading Up 1.2%

TSE:BEI.UN opened at C$66.90 on Monday. Boardwalk Real Estate Investment Trust has a 1 year low of C$59.10 and a 1 year high of C$75.37. The stock’s fifty day moving average price is C$66.99 and its two-hundred day moving average price is C$66.98. The company has a debt-to-equity ratio of 77.35, a current ratio of 0.23 and a quick ratio of 0.04. The company has a market cap of C$3.56 billion, a P/E ratio of 13.68, a P/E/G ratio of 1.24 and a beta of 0.55.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) last announced its quarterly earnings results on Thursday, February 19th. The real estate investment trust reported C($1.21) earnings per share for the quarter. Boardwalk Real Estate Investment Trust had a net margin of 118.55% and a return on equity of 15.71%. The company had revenue of C$164.85 million during the quarter. As a group, 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 announced a monthly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 15th were paid a $0.135 dividend. This represents a c) dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Friday, November 28th. Boardwalk Real Estate Investment Trust’s dividend payout ratio (DPR) is currently 31.90%.

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.