Scotiabank Cuts Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Price Target to C$75.50

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) had its price target trimmed by Scotiabank from C$78.00 to C$75.50 in a report issued on Monday morning,BayStreet.CA reports. The brokerage currently has a sector perform rating on the real estate investment trust’s stock.

BEI.UN has been the topic of a number of other reports. TD Securities lowered their target price on Boardwalk Real Estate Investment Trust from C$88.00 to C$85.00 and set a “buy” rating on the stock in a report on Friday, December 12th. BMO Capital Markets reduced their target price on shares of Boardwalk Real Estate Investment Trust from C$77.00 to C$76.00 and set a “market perform” rating for the company in a report on Monday. Raymond James Financial dropped 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. National Bank Financial reduced their price objective on Boardwalk Real Estate Investment Trust from C$82.50 to C$81.00 and set an “outperform” rating for the company in a research note on Monday. Finally, Desjardins reduced their price objective on Boardwalk Real Estate Investment Trust from C$79.00 to C$78.00 and set a “hold” rating for the company in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$81.19.

Boardwalk Real Estate Investment Trust Price Performance

TSE BEI.UN opened at C$66.90 on Monday. Boardwalk Real Estate Investment Trust has a 12 month low of C$59.10 and a 12 month high of C$75.37. The firm has a market capitalization of C$3.56 billion, a PE ratio of 13.68, a P/E/G ratio of 1.24 and a beta of 0.55. The company’s 50 day simple moving average is C$66.99 and its 200 day simple moving average 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.

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

Boardwalk Real Estate Investment Trust Announces Dividend

The firm also recently disclosed 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) 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 dividend payout ratio is currently 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.