CIBC Cuts Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Price Target to C$80.00

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) had its price objective decreased by CIBC from C$86.00 to C$80.00 in a research note issued to investors on Monday morning,BayStreet.CA reports.

A number of other research firms have also issued reports on BEI.UN. Scotiabank dropped their price objective on shares of Boardwalk Real Estate Investment Trust from C$84.75 to C$81.75 in a research note on Thursday, November 7th. National Bankshares dropped their price objective on shares of Boardwalk Real Estate Investment Trust from C$96.00 to C$90.00 in a research note on Thursday, November 7th. Royal Bank of Canada dropped their price target on shares of Boardwalk Real Estate Investment Trust from C$98.00 to C$90.00 in a research note on Thursday, November 7th. TD Securities decreased their price objective on shares of Boardwalk Real Estate Investment Trust from C$100.00 to C$95.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Finally, BMO Capital Markets downgraded shares of Boardwalk Real Estate Investment Trust from an “outperform” rating to a “market perform” rating and reduced their price target for the company from C$84.00 to C$73.00 in a report on Wednesday, December 18th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Boardwalk Real Estate Investment Trust currently has an average rating of “Moderate Buy” and an average price target of C$84.31.

Boardwalk Real Estate Investment Trust Trading Down 0.7 %

TSE BEI.UN opened at C$64.13 on Monday. Boardwalk Real Estate Investment Trust has a one year low of C$59.53 and a one year high of C$91.81. The company’s 50 day moving average price is C$63.28 and its 200 day moving average price is C$73.31. The company has a debt-to-equity ratio of 77.35, a quick ratio of 0.04 and a current ratio of 0.23. The firm has a market capitalization of C$3.17 billion, a price-to-earnings ratio of 4.75, a PEG ratio of 1.24 and a beta of 1.76.

Boardwalk Real Estate Investment Trust Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 17th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.25%. Boardwalk Real Estate Investment Trust’s dividend payout ratio (DPR) is presently 10.66%.

Insider Activity

In other news, Director Scott Andrew Morrison purchased 650 shares of Boardwalk Real Estate Investment Trust stock in a transaction on Wednesday, December 18th. The shares were purchased at an average cost of C$64.76 per share, for a total transaction of C$42,094.98. 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.