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

Boardwalk Real Estate Investment Trust (TSE:BEI.UN) announced its earnings results on Tuesday. The real estate investment trust reported C$0.19 earnings per share (EPS) for the quarter, FiscalAI reports. Boardwalk Real Estate Investment Trust had a return on equity of 15.71% and a net margin of 118.55%. The business had revenue of C$159.82 million for the quarter.

Boardwalk Real Estate Investment Trust Stock Down 0.3%

BEI.UN traded down C$0.16 during trading on Tuesday, reaching C$63.05. 91,967 shares of the stock were exchanged, compared to its average volume of 118,281. The stock has a market cap of C$3.29 billion, a P/E ratio of -74.18, a price-to-earnings-growth ratio of 1.24 and a beta of 0.56. Boardwalk Real Estate Investment Trust has a twelve month low of C$59.93 and a twelve month high of C$70.12. The stock’s 50 day moving average price is C$61.88 and its two-hundred day moving average price is C$64.66. The company has a debt-to-equity ratio of 77.35, a quick ratio of 0.04 and a current ratio of 0.23.

Boardwalk Real Estate Investment Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 16th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, October 30th. This represents a $1.80 annualized dividend and a dividend yield of 2.9%. Boardwalk Real Estate Investment Trust’s dividend payout ratio (DPR) is currently -199.41%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. National Bank Financial decreased their price target on shares of Boardwalk Real Estate Investment Trust from C$81.00 to C$74.25 and set an “outperform” rating for the company in a research note on Wednesday, October 21st. Scotiabank lowered their price objective on shares of Boardwalk Real Estate Investment Trust from C$74.50 to C$74.00 and set a “sector perform” rating on the stock in a report on Thursday, July 30th. Finally, Royal Bank Of Canada boosted their price objective on shares of Boardwalk Real Estate Investment Trust from C$81.00 to C$84.00 and gave the stock an “outperform” rating in a research report on Thursday, July 30th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$78.53.

About Boardwalk Real Estate Investment Trust

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.