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

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Boardwalk REIT (BEI.UN.TO)

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63.90

-0.46 (0.71%)

as of Jun 17, 2026, 8:00:00 pm Market Open.

182 watching

Investor Insights

Jun 17, 2026, 12:00 am

This summary was created by AI, based on 4 opinions in the last 12 months.

Boardwalk REIT (BEI.UN) has received positive feedback from various experts, highlighting its strategic positioning, particularly with 75% of its portfolio free from rent control which allows for greater flexibility in rental pricing. While national population growth has experienced a decline, specific areas where Boardwalk operates have seen an uptick, benefiting the company. Experts appreciate the management's approach, noting the low payout ratio which reduces the risk of dilution. With a yield of 2.4%, it may appeal to investors seeking stability. Overall, the stock is viewed as an attractive buy due to its current pricing relative to asset value, particularly in Alberta's robust economy.

Consensus

Positive

Valuation

Undervalued

Similar

CNR, CNR

COMMENT

One of the best REITs in Canada with a smidgen team, high quality asset portfolio, national apartment buildings, very low leverage and a very sustainable payout ratio. At these levels, he feels it offers a 10% total return but he is looking for a 12% total return.

HOLD

(Market Call Minute.) Doing phenomenally well. It's behaving as though something is going on.

BUY ON WEAKNESS

One of the best apartment REITs in the country. Lots of exposure to Edmonton, Calgary as well as Montréal. Great management. Good portfolio. Extremely low leverage and very low payout. (They should be increasing distributions every year.) Worth about $56. He would like to see it at about $51-$52

BUY

Dundee (D.UN-T) or Boardwalk (BEI.UN-T)? Boardwalk is in the residential sector, which she feels is the most defensive sector and in this environment fundamentals are very good. Outlook is very good. Have about $700 million of debt coming due this year that they will be able to roll down from 4.5% interest rate to about 2.85%. Well-managed.

BUY

(Market Call Minute.) Well positioned in apartments in Western Canada and he is looking for growth there.

HOLD

Apartments in Western Canada, which has above average wage growth, population growth in the economy is doing very well. They have an opportunity to increase rents. They have about $450 million of debt coming due next year and will be able to finance at much lower rates. Will probably have dividend increase next year. Feels the stock is worth a lot more than $50.

COMMENT

A lot of concern about what they are doing – are they taking it private. They haven’t bought into Ontario as had been expected. They are buying back their stock. Rents in Alberta are gradually improving. Good cash flow situation. Will either buy back stock or increase dividend, but there is concern about it.

BUY ON WEAKNESS

One of the better performers. Hardly moved at all today. Feels it is worth around $50-$51 and if you are buying at current levels, you are looking at a 5%-6% total return. If you are comfortable with that then it's a buy but if you are looking for a 15% return, you want to get it in the $46 range.

TOP PICK

Little concerned that management may be a little bit asleep at the switch. Located in Alberta. Have been sitting very quietly. There markets are improving. Have not increased their rents. Good cash flow and relatively low payout ratio. Have the potential to increase rents.

BUY

Apartments in Edmonton and Calgary as well as Montreal. Bit of a misstep in Q1 but going forward significant upside in terms of rent growth as some of the concessions they are offering burn off..

BUY

Boardwalk Reit have been buying back stock over the last few years. He feels that they will be able to get price increases in their rental units. They have a lot of cash and are in a good position with low vacancy rates in their units.

BUY

He has been involved with heavily almost from day one. Doesn’t know if they will ever achieve their full value. Payout ratio is well below what they are earning. Buying back stock. They are going to do better because the Alberta market is soft and I starting to improve. Doesn’t know if they will acquire anything. Responsible management with a large holding. A good earner that will improve over time. 4% yield. A core holding.

PAST TOP PICK

(A Top Pick Feb 24/10. Up 23.72%.) Best real estate managers out there. This is a stock that lets you sleep at night. Expecting them to increase dividends very soon.

BUY

Largest residential REIT in Canada. CEO owns a lot of shares. Western Canada. They have a lot of cash on balance sheet. Payment of incentives to tenants is coming off. You can sleep at night with this name.

HOLD

A long term REIT that he really likes. Being hurt a bit as it is having trouble growing. Also it’s core is in Edmonton. Percentage of condos going rental has been increasing significantly. Edmonton is improving with the pick up of the tar sands. Calgary is still soft. Low yield but payout ratio is low.

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Boardwalk REIT (BEI.UN.TO)