Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Boardwalk Real Estate Investment Trust (TSE:BEI.UN)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$67.66 and traded as high as C$68.16. Boardwalk Real Estate Investment Trust shares last traded at C$67.29, with a volume of 133,181 shares traded.

Analysts Set New Price Targets

Several research firms recently weighed in on BEI.UN. National Bankshares raised their price objective on Boardwalk Real Estate Investment Trust from C$82.50 to C$85.00 and gave the company an “outperform” rating in a research note on Wednesday, October 8th. Raymond James Financial raised shares of Boardwalk Real Estate Investment Trust from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from C$80.00 to C$83.00 in a report on Wednesday, January 14th. Finally, TD Securities reduced their price target on shares of Boardwalk Real Estate Investment Trust from C$88.00 to C$85.00 and set a “buy” rating on the stock in a research note on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of C$82.94.

Boardwalk Real Estate Investment Trust Trading Down 0.2%

The company has a market cap of C$3.58 billion, a P/E ratio of 13.76, a PEG ratio of 1.24 and a beta of 0.67. The firm’s 50 day moving average is C$64.86 and its two-hundred day moving average is C$67.66. The company has a quick ratio of 0.04, a current ratio of 0.23 and a debt-to-equity ratio of 77.35.

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) last announced its earnings results on Wednesday, November 5th. The real estate investment trust reported C$0.66 earnings per share (EPS) for the quarter. Boardwalk Real Estate Investment Trust had a return on equity of 15.71% and a net margin of 118.55%.The business had revenue of C$160.77 million during the quarter. As a group, equities research analysts anticipate that Boardwalk Real Estate Investment Trust will post 4.4537396 EPS for the current year.

Boardwalk Real Estate Investment Trust Announces Dividend

The business 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) dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Friday, November 28th. Boardwalk Real Estate Investment Trust’s 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.