Boardwalk Real Estate Investment Trust

BEI.UN

CA0966311064

Residential REITs

Market Closed - Toronto S.E. Other stock markets 04:00:00 2024-04-26 pm EDT			5-day change	1st Jan Change
73.09 ^CAD	-0.22%		+1.85%	+2.45%

Apr. 17	REITs Brief: Bloomberg Reporting That Ontario Teachers' Pension Plan Weighing $5 Billion Sale of Amica, a private provider of luxury seniors residences	MT
Apr. 03	Boardwalk REIT Provided An Operations Update	MT

Boardwalk Real Estate Investment Trust Reports Earnings Results for the Full Year Ended December 31, 2023

February 22, 2024 at 06:15 pm EST

Boardwalk Real Estate Investment Trust reported earnings results for the full year ended December 31, 2023. For the full year, the company reported sales was CAD 545.66 million compared to CAD 496.36 million a year ago. Net income was CAD 666.1 million compared to CAD 283.1 million a year ago.

Basic earnings per share from continuing operations was CAD 14.54 compared to CAD 6.17 a year ago. Diluted earnings per share from continuing operations was CAD 14.54 compared to CAD 5.23 a year ago.

Latest news about Boardwalk Real Estate Investment Trust

REITs Brief: Bloomberg Reporting That Ontario Teachers' Pension Plan Weighing $5 Billion Sale of Amica, a private provider of luxury seniors residences	Apr. 17	MT
Boardwalk REIT Provided An Operations Update	Apr. 03	MT
Boardwalk REIT Announces Transition Of Chief Financial Officer Role	Mar. 25	MT
Boardwalk REIT Brief: Following a transition period under Smandych's continued mentorship prior to her departure, Gregg Tinling will assume the role of Chief Financial Officer of the Trust	Mar. 25	MT
Boardwalk REIT Brief: Lisa Smandych has tendered her resignation from the Trust effective at End of Q2 2024 reporting to "Pursue different opportunities"	Mar. 25	MT
Boardwalk Real Estate Investment Trust Announces Transition of Chief Financial Officer Role	Mar. 25	CI
RBC Capital Markets Says Outperform Ratings For Canadian REITs Still Intact	Mar. 20	MT
National Bank Notes 'Continued Operating Momentum' for Boardwalk REIT; Price Target Raised	Feb. 26	MT
Transcript : Boardwalk Real Estate Investment Trust, Q4 2023 Earnings Call, Feb 23, 2024	Feb. 23
Boardwalk Real Estate Investment Trust Reports Earnings Results for the Full Year Ended December 31, 2023	Feb. 22	CI
Boardwalk Real Estate Investment Trust Declares Monthly Cash Distribution for the Months of April, and May 2024, Payable on 15 May, 2024 and 17 June 2024 Respectively	Feb. 22	CI
Boardwalk Real Estate Investment Trust Declares Monthly Cash Distribution for the Month of March 2024, Payable on 15 April 2024	Feb. 22	CI
Boardwalk REIT Brief: Citing 23.1% Lift To Regular Monthly Distribution to $1.44 Per Trust Unit On An Annualized Basis Confirmed For Months of March, April and May 2024	Feb. 22	MT
Boardwalk REIT Brief: On Introduction of 2024 Financial Guidance, Cites FFO range of $3.93 to $4.18 per Unit; Same Property NOI growth range of +10% to +14%	Feb. 22	MT
Boardwalk REIT Brief: Q4 Funds From Operations of $0.96 per Unit, an increase of 20% from Q4 2022; Profit of $173.1 million; Net Operating Income of $87.9 million; an increase of 17.6% from Q4 2022	Feb. 22	MT
National Bank Raises Price Targets for Real Estate Firms, Provides Preview	Jan. 30	MT
Boardwalk Real Estate Investment Trust (TSX:BEI.UN) completed the acquisition of The Circle in Calgary, Alberta.	Jan. 23	CI
Boardwalk REIT Kept at Outperform at BMO; Price Target Raised to C$78.00	Jan. 08	MT
Boardwalk REIT Offers Operational Update for 2023; Provides Outlook	Jan. 04	MT
Boardwalk REIT Brief: Providing An Operational Update with "Continued Strength In Same Property Revenue Growth"	Jan. 04	MT
Boardwalk REIT Price Target Raised to $84 at TD	Dec. 27	MT
Boardwalk REIT Closes Bought Deal Offering of Trust Units; National Bank Resumes Coverage	Dec. 22	MT
Boardwalk REIT Brief: Closed Prior Announced $251 Million Bough Deal Offering of Trust Units Including Full Exercise of the Over Allotment Options	Dec. 22	MT
Boardwalk REIT Closes Bought Deal Offering of Trust Units	Dec. 22	MT
Boardwalk REIT Upsizes Bought Deal Offering to $218 Million From $150 Million	Dec. 15	MT

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Company Profile

Boardwalk Real Estate Investment Trust (Trust) is a Canada-based open-ended real estate investment trust, which owns/operates multi-family rental communities. It provides homes in more than 200 communities, with over 33,000 residential suites totaling over 29 million net rentable square feet. Its brands include Boardwalk Living, Boardwalk Communities, and Boardwalk Lifestyle. Its three-tiered brands, namely Boardwalk Living, Boardwalk Communities, and Boardwalk Lifestyle, caters to a diverse demographic. Its objectives are to provide Resident Members with superior quality rental communities and the best tenant/customer service, provide its holders of Trust Units with stable monthly cash distributions, and to increase the value of the Trust Units through the effective management of its residential multi-family revenue producing properties, renovations and upgrades to its current portfolio, and the acquisition and/or development of additional, accretive properties or interests therein.

Sector

Residential REITs

Calendar

2024-04-28 - Ex-dividend day

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Income Statement Evolution

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Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

73.09 CAD

Average target price

84.94 CAD

Spread / Average Target

+16.22%

Consensus

Quarterly revenue - Rate of surprise

Company calendar

Sector Residential REITs

	1st Jan change	Capi.
BOARDWALK REAL ESTATE INVESTMENT TRUST	+2.45%	2.64B
AVALONBAY COMMUNITIES, INC.	+2.26%	27.19B
EQUITY RESIDENTIAL	+6.51%	24.68B
INVITATION HOMES INC.	+1.79%	21.27B
MID-AMERICA APARTMENT COMMUNITY, INC.	-3.89%	15.08B
SUN COMMUNITIES, INC.	-10.90%	14.84B
AMERICAN HOMES 4 RENT	+1.25%	13.34B
UDR INC.	-0.99%	12.48B
EQUITY LIFESTYLE PROPERTIES, INC.	-14.19%	11.29B
CAMDEN PROPERTY TRUST	+0.33%	10.84B

Residential REITs