Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Lowered to Outperform at Raymond James

Raymond James downgraded shares of Boardwalk Real Estate Investment Trust (TSE:BEI.UN) from a strong-buy rating to an outperform rating in a research report released on Friday morning, BayStreet.CA reports. The firm currently has C$100.00 price objective on the real estate investment trust’s stock, up from their prior price objective of C$96.00.

BEI.UN has been the topic of a number of other reports. TD Securities raised their price target 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. Scotiabank lifted their price target on shares of Boardwalk Real Estate Investment Trust from C$82.50 to C$85.00 and gave the company an outperform rating in a report on Thursday, August 1st. BMO Capital Markets upped their price objective on Boardwalk Real Estate Investment Trust from C$84.00 to C$85.00 and gave the stock an outperform rating in a report on Monday, May 13th. Royal Bank of Canada boosted their price target on Boardwalk Real Estate Investment Trust from C$88.00 to C$98.00 and gave the company an outperform rating in a research report on Thursday, August 1st. Finally, CIBC lifted their price objective on 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. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of C$89.90.

Boardwalk Real Estate Investment Trust Price Performance

TSE:BEI.UN opened at C$87.84 on Friday. The firm has a market cap of C$4.34 billion, a price-to-earnings ratio of 6.67, a price-to-earnings-growth ratio of 1.24 and a beta of 1.77. Boardwalk Real Estate Investment Trust has a 12-month low of C$63.09 and a 12-month high of C$88.15. The company has a current ratio of 0.23, a quick ratio of 0.04 and a debt-to-equity ratio of 77.35. The company’s 50-day moving average is C$79.38 and its two-hundred day moving average is C$75.32.

Boardwalk Real Estate Investment Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 16th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.64%. Boardwalk Real Estate Investment Trust’s payout ratio is currently 10.93%.

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.