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 target price decreased by Scotiabank from C$85.00 to C$84.75 in a report published on Wednesday morning, BayStreet.CA reports. Scotiabank currently has a sector perform rating on the real estate investment trust’s stock.

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

Boardwalk Real Estate Investment Trust Price Performance

Boardwalk Real Estate Investment Trust has a twelve month low of C$63.64 and a twelve month high of C$91.81. The firm’s fifty day moving average is C$84.33 and its two-hundred day moving average is C$77.01. The company has a market capitalization of C$4.00 billion, a P/E ratio of 5.98, a PEG ratio of 1.24 and a beta of 1.76. 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 Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 15th will be paid a $0.12 dividend. This represents a $1.44 dividend on an annualized basis and a yield of ∞. The ex-dividend date of this dividend is Thursday, October 31st. Boardwalk Real Estate Investment Trust’s payout ratio is 10.66%.

Insiders Place Their Bets

In other Boardwalk Real Estate Investment Trust news, Senior Officer James Ha sold 8,100 shares of Boardwalk Real Estate Investment Trust stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of C$87.60, for a total value of C$709,560.00. Corporate insiders own 17.92% of the company’s stock.

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.