Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Boardwalk Real Estate Investment Trust (TSE:BEI.UN) have been assigned an average rating of “Buy” from the nine analysts that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is C$89.00.

Several equities analysts have issued reports on the stock. CIBC upped their target price on shares of Boardwalk Real Estate Investment Trust from C$81.00 to C$86.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Scotiabank raised their target price on shares of Boardwalk Real Estate Investment Trust from C$82.50 to C$85.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. National Bankshares increased their price objective on shares of Boardwalk Real Estate Investment Trust from C$90.00 to C$93.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Royal Bank of Canada increased their price objective on shares of Boardwalk Real Estate Investment Trust from C$88.00 to C$98.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Finally, TD Securities raised their target price on shares of Boardwalk Real Estate Investment Trust from C$90.00 to C$95.00 and gave the company a “buy” rating in a report on Thursday, August 1st.

Boardwalk Real Estate Investment Trust Price Performance

BEI.UN opened at C$79.72 on Monday. The company has a debt-to-equity ratio of 77.35, a quick ratio of 0.04 and a current ratio of 0.23. The stock has a market capitalization of C$3.94 billion, a P/E ratio of 6.02, a P/E/G ratio of 1.24 and a beta of 1.76. The company’s 50-day simple moving average is C$73.65 and its two-hundred day simple moving average is C$73.58. Boardwalk Real Estate Investment Trust has a 52-week low of C$63.09 and a 52-week high of C$80.27.

Boardwalk Real Estate Investment Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 16th will be issued a $0.12 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.44 annualized dividend and a dividend yield of 1.81%. Boardwalk Real Estate Investment Trust’s payout ratio is currently 10.87%.

About Boardwalk Real Estate Investment Trust

Boardwalk REIT strives to be Canada's friendliest community provider and is a leading owner/operator of multi-family rental communities. Providing homes in more than 200 communities, with over 34,000 residential suites totaling over 29 million net rentable square feet, Boardwalk has a proven long-term track record of building better communities, where love always lives.