Boardwalk Real Estate Investment Trust (TSE:BEI.UN) Posts Earnings Results

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) released its quarterly earnings results on Thursday. The real estate investment trust reported C($1.21) earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of C$164.85 million for the quarter. Boardwalk Real Estate Investment Trust had a return on equity of 15.71% and a net margin of 118.55%.

Boardwalk Real Estate Investment Trust Trading Down 0.9%

BEI.UN stock opened at C$67.32 on Friday. Boardwalk Real Estate Investment Trust has a twelve month low of C$59.10 and a twelve month high of C$75.37. The business has a fifty day moving average of C$66.71 and a 200-day moving average of C$67.16. The company has a quick ratio of 0.04, a current ratio of 0.23 and a debt-to-equity ratio of 77.35. The company has a market cap of C$3.59 billion, a P/E ratio of 13.77, a PEG ratio of 1.24 and a beta of 0.55.

Boardwalk Real Estate Investment Trust Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 15th were paid a $0.135 dividend. The ex-dividend date was Friday, November 28th. This represents a c) dividend on an annualized basis and a dividend yield of 2.4%. Boardwalk Real Estate Investment Trust’s dividend payout ratio (DPR) is 31.90%.

Wall Street Analyst Weigh In

Several research firms recently commented on BEI.UN. National Bank Financial upped their target price on Boardwalk Real Estate Investment Trust from C$80.00 to C$82.50 and gave the company an “outperform” rating in a research note on Thursday, February 5th. TD Securities dropped their target price on Boardwalk Real Estate Investment Trust from C$88.00 to C$85.00 and set a “buy” rating on the stock in a research report on Friday, December 12th. Finally, Raymond James Financial upgraded shares of Boardwalk Real Estate Investment Trust from an “outperform” rating to a “strong-buy” rating and boosted their price target for the stock from C$80.00 to C$83.00 in a research report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Boardwalk Real Estate Investment Trust has a consensus rating of “Buy” and a consensus target price of C$82.63.

Boardwalk Real Estate Investment Trust Company Profile

Boardwalk Real Estate Investment Trust, or Boardwalk REIT, is a real estate investment trust engaged in the acquisition, development, and management of residential multifamily communities throughout Canada. Although the company’s cumulative residential property portfolio includes holdings in the provinces of Alberta, Saskatchewan, Ontario, and Quebec, the majority of its total units are located in Alberta. The submarkets around the cities of Calgary and Edmonton, specifically, account for the majority of Boardwalk REIT’s total residential suites.