Boardwalk REIT (BEI.UN.TO) Buy, Sell or Hold

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Boardwalk REIT (BEI.UN.TO)

64.00

-0.90 (1.39%)

as of Aug 26, 2026, 8:00:00 pm Market Open.

181 watching

Investor Insights

Aug 26, 2026, 12:00 am

This summary was created by AI, based on 3 opinions in the last 12 months.

Boardwalk REIT (BEI.UN) has garnered attention from multiple experts, highlighting its resilience and strategic positioning within the real estate market. Approximately 75% of its portfolio is insulated from rent control, which could provide stability in uncertain economic conditions. Although national population growth has slowed, Boardwalk REIT has managed to thrive in its operational spaces, especially in Alberta, noted for its affordability. Experts like the company's management and appreciate the low payout ratio, which reduces the risk of dilution. Current pricing presents an attractive buying opportunity for investors, with a yield of 2.4%, appealing especially to those seeking moderate returns in a stable market.

Consensus

Positive

Valuation

Fair Value

Similar

CNR, CNR

TOP PICK

Announced numbers today and the market is not terribly happy with it. They are quality, so tend to be overpriced. One of the top apartment operators. Big in Montreal and in the West. Yield of about 5%. Payout ratio of about 80%. Relatively low debt.

BUY

The largest apartment landlord in Canada. 53% of their rental units are in Alberta. Rent increases will amount to about $63 million. Management has begun to buy back units.

COMMENT

Residential properties with big concentrations in Edmonton and Calgary. These markets appear to be slowing in terms of rent growth. This is a call on how bullish you are on Western Canada. If you are an oil/gas and mining bull this is a good name for your portfolio. If you are cautious and concerned about a slowdown in Western Canada, you should avoid it.

COMMENT

About 53% of their apartments is in Alberta, which gave them a tremendous uplift in the last 2 years. REITs hit a brick wall in February. All the price appreciation from Alberta is now priced in. Alberta's economy could cool down because of the royalty discussions.

PAST TOP PICK

(A Top Pick June 14/06. Up 93.2%.) Sold his holdings around the $42 range. Too expensive now.

HOLD

Has had a fantastic run. A large part of their portfolio is in Calgary and Edmonton. Have a great pricing power in terms of rental rates. Expect their strong growth will continue. Fully valued at this price.

DON'T BUY

It needs the up tick in rents in Calgary and Edmonton to validate its current share price. He has sold some of his holdings.

PAST TOP PICK

(A Top Pick June 14/06. Up 77%.) Had actually bought it for a defensive position. The upswing in the Alberta economy had not been reflected in the numbers. Sold out around $42. If you own, Sell.

PAST TOP PICK

Was a defensive pick. Sold in Jan, at $41. Was a great ride.

BUY

An excellent company. Has very good properties. A reasonable investment.

HOLD

Multi-residential. Focused more on lower rise properties. Heavily weighted towards western Canada. Had a fantastic run. You have to decide if the internal growth justifies getting the low free cash low yield. If you are an energy and Alberta bull, it could be a good holding.

HOLD

Multiple residential REIT. Primarily owns brick and stick construction. Has had a fantastic run. US investors seem to have found this name. Yield of about 3.2% and trades at about 24 X free cash flow. If you feel they can continue to grow at 8%, then it is a real buy, but if you feel it is too heavily weighted in western Canada, it is overpriced.

COMMENT

Has been a huge winner. Edmonton is their biggest market and are well entrenched in Calgary. He is nervous about if Alberta can keep up the pace.

WEAK BUY

A multi-residential name. Big concentrations in Edmonton, Calgary and Montreal. Great management. They raise rents by $75 every 6 months for the next couple of years. If you are an Alberta and energy bull, then these levels are justified.

COMMENT

Apartment buildings. Great defensive play on the economy if housing goes bust. 51% of its portfolio is in Alberta and as home prices have soared they have the ability to raise rents. Raised their distributions 3 times this year. Great management. Still catching up on the rent increases.

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Boardwalk REIT (BEI.UN.TO)