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

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

Boardwalk Real Estate Investment Trust Stock Down 0.9%

Shares of TSE BEI.UN traded down C$0.59 during mid-day trading on Thursday, reaching C$67.32. The company had a trading volume of 78,372 shares, compared to its average volume of 106,317. The company has a market capitalization of C$3.59 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 1.24 and a beta of 0.55. 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 stock has a fifty day moving average of C$66.71 and a two-hundred day moving average of C$67.16. Boardwalk Real Estate Investment Trust has a 12-month low of C$59.10 and a 12-month high of C$75.37.

Boardwalk Real Estate Investment Trust Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have issued reports on BEI.UN. TD Securities cut their price target on shares of Boardwalk Real Estate Investment Trust from C$88.00 to C$85.00 and set a “buy” rating for the company in a report on Friday, December 12th. National Bank Financial raised their target price on Boardwalk Real Estate Investment Trust from C$80.00 to C$82.50 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. Finally, Raymond James Financial raised Boardwalk Real Estate Investment Trust from an “outperform” rating to a “strong-buy” rating and raised their target price for the stock from C$80.00 to C$83.00 in a research note on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average 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.