Scotiabank Cuts Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Price Target to C$84.75

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) had its price objective trimmed by Scotiabank from C$85.00 to C$84.75 in a research report report published on Wednesday morning, BayStreet.CA reports. The firm currently has a sector perform rating on the real estate investment trust’s stock.

Other equities research analysts have also recently issued reports about the company. National Bankshares upped their price objective on Boardwalk Real Estate Investment Trust from C$93.00 to C$96.00 in a research note on Wednesday, October 9th. CIBC upped their price objective on Boardwalk Real Estate Investment Trust from C$81.00 to C$86.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Raymond James cut Boardwalk Real Estate Investment Trust from a “strong-buy” rating to an “outperform” rating and upped their price objective for the stock from C$96.00 to C$100.00 in a research note on Friday, September 6th. TD Securities upped their price objective on Boardwalk Real Estate Investment Trust from C$95.00 to C$100.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Finally, Royal Bank of Canada upped their price objective on Boardwalk Real Estate Investment Trust from C$88.00 to C$98.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$90.18.

Boardwalk Real Estate Investment Trust Stock Performance

Boardwalk Real Estate Investment Trust has a 1-year low of C$63.64 and a 1-year high of C$91.81. The stock has a market cap of C$4.00 billion, a PE ratio of 5.98, a price-to-earnings-growth ratio of 1.24 and a beta of 1.76. The stock has a fifty day moving average price of C$84.33 and a two-hundred day moving average price of C$77.01. 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 Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 15th will be given a dividend of $0.12 per share. This represents a $1.44 annualized dividend and a yield of ∞. The ex-dividend date is Thursday, October 31st. Boardwalk Real Estate Investment Trust’s dividend payout ratio is currently 10.66%.

Insider Activity at Boardwalk Real Estate Investment Trust

In related news, Senior Officer James Ha sold 8,100 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of C$87.60, for a total transaction of C$709,560.00. 17.92% of the stock is currently owned by corporate insiders.

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.