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

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

Boardwalk Real Estate Investment Trust Stock Performance

BEI.UN opened at C$62.78 on Thursday. The business’s 50-day simple moving average is C$61.83 and its 200 day simple moving average is C$64.63. Boardwalk Real Estate Investment Trust has a 52-week low of C$59.93 and a 52-week high of C$70.12. 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$3.27 billion, a PE ratio of -73.86, a PEG ratio of 1.24 and a beta of 0.56.

Boardwalk Real Estate Investment Trust Dividend Announcement

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

Analysts Set New Price Targets

BEI.UN has been the topic of a number of research reports. 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. Scotiabank decreased their target price on shares of Boardwalk Real Estate Investment Trust from C$74.50 to C$74.00 and set a “sector perform” rating for the company in a research report on Thursday, July 30th. Finally, National Bank Financial decreased their target price 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 report on Wednesday, October 21st. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.