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 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 firm had revenue of C$159.82 million for the quarter.

Boardwalk Real Estate Investment Trust Stock Down 0.3%

BEI.UN stock opened at C$63.05 on Wednesday. The firm’s 50-day moving average is C$61.88 and its two-hundred day moving average is C$64.66. 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 has a market capitalization of C$3.29 billion, a price-to-earnings 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 52 week low of C$59.93 and a 52 week high of C$70.12.

Boardwalk Real Estate Investment Trust Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on BEI.UN shares. Scotiabank decreased their target price on Boardwalk Real Estate Investment Trust from C$74.50 to C$74.00 and set a “sector perform” rating for the company in a report on Thursday, July 30th. National Bank Financial dropped their price target on shares of Boardwalk Real Estate Investment Trust from C$81.00 to C$74.25 and set an “outperform” rating on the stock in a research note on Wednesday, October 21st. 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 report on Thursday, July 30th. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Boardwalk Real Estate Investment Trust currently has an average 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.