Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Downgraded to “Sector Perform” Rating by National Bankshares

National Bankshares cut shares of Boardwalk Real Estate Investment Trust (TSE:BEI.UN) from an outperform rating to a sector perform rating in a research note released on Monday morning,BayStreet.CA reports. National Bankshares currently has C$72.00 price objective on the real estate investment trust’s stock, down from their prior price objective of C$80.00.

Several other analysts have also issued reports on the company. Raymond James cut their price target on Boardwalk Real Estate Investment Trust from C$91.00 to C$82.00 in a report on Monday, January 13th. Scotiabank cut their price objective on Boardwalk Real Estate Investment Trust from C$79.50 to C$78.50 in a research note on Monday, February 24th. CIBC reduced their target price on shares of Boardwalk Real Estate Investment Trust from C$86.00 to C$80.00 in a report on Monday, February 24th. Finally, BMO Capital Markets lowered shares of Boardwalk Real Estate Investment Trust from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from C$84.00 to C$73.00 in a research report on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Boardwalk Real Estate Investment Trust currently has an average rating of “Hold” and a consensus target price of C$81.50.

Boardwalk Real Estate Investment Trust Trading Up 0.5 %

Shares of BEI.UN stock opened at C$62.06 on Monday. 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$3.07 billion, a price-to-earnings ratio of 4.59, a PEG ratio of 1.24 and a beta of 1.76. Boardwalk Real Estate Investment Trust has a 1 year low of C$59.10 and a 1 year high of C$91.81. The firm has a fifty day moving average price of C$64.46 and a 200-day moving average price of C$68.23.

Boardwalk Real Estate Investment Trust Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.135 per share. This represents a $1.62 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend is Wednesday, April 30th. This is a boost from Boardwalk Real Estate Investment Trust’s previous monthly dividend of $0.12. Boardwalk Real Estate Investment Trust’s dividend payout ratio (DPR) is currently 10.66%.

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.