Boardwalk REIT

BEI.UN-T

TSE:BEI.UN

48.64
0.11 (0.23%)
Boardwalk Real Estate Investment Trust is an open-ended real estate investment trust that owns Boardwalk Communities, Structures Metropolitaines, and Boardwalk Retirement Community.
More at Wikipedia

Analysis and Opinions about BEI.UN-T

Signal
Opinion
Expert
TOP PICK
TOP PICK
December 10, 2019
They get hurt by the Calgary recession and remain exposed in the Prairies, but now it's too cheap. They have top-notch managers who own 25% of stock. What's changed recently is that Alberta is slightly improving. This trades at $150,000 per door vs. CAP REIT's $280,000 and Killam REIT at $230,000. Their incentives to get people in the door are waning (i.e. free rent for first month) Trades at a 10% discount to NAV when it should trade at or slightly above NAV. (Analysts’ price target is $51.60)
Boardwalk REIT (BEI.UN-T)
December 10, 2019
They get hurt by the Calgary recession and remain exposed in the Prairies, but now it's too cheap. They have top-notch managers who own 25% of stock. What's changed recently is that Alberta is slightly improving. This trades at $150,000 per door vs. CAP REIT's $280,000 and Killam REIT at $230,000. Their incentives to get people in the door are waning (i.e. free rent for first month) Trades at a 10% discount to NAV when it should trade at or slightly above NAV. (Analysts’ price target is $51.60)
Paul Gardner, CFA
Partner and Portfolio Manager, Avenue Investment Management
Price
$48.750
Owned
Yes
HOLD
HOLD
November 19, 2019
Range-bound. Don't sell. Stick between $35-50. It's not a trade, but a long-term hold.
Boardwalk REIT (BEI.UN-T)
November 19, 2019
Range-bound. Don't sell. Stick between $35-50. It's not a trade, but a long-term hold.
Elliott Fishman
Director of U.S. and international equity trading, Trading Services Group, Scotia Wealth
Price
$48.000
Owned
Unknown
TOP PICK
TOP PICK
October 25, 2019
Over 75% of their income comes from Western Canada, which is starting to pick up. A $44 stock and the NAV could grow towards $50. Yield 2.22% (Analysts’ price target is $49.21)
Boardwalk REIT (BEI.UN-T)
October 25, 2019
Over 75% of their income comes from Western Canada, which is starting to pick up. A $44 stock and the NAV could grow towards $50. Yield 2.22% (Analysts’ price target is $49.21)
Robert Lauzon
Deputy Chief Investment Officer, Middlefield Capital Corporation
Price
$44.780
Owned
Yes
BUY
BUY
July 31, 2019
He likes this for its dominant position in Western Canada. A large cap REIT. It is a bet of the recovery in Calgary and Edmonton. At these price levels, the REIT is at a good entry level. It trades at a discount to book. Yield 2.4%
He likes this for its dominant position in Western Canada. A large cap REIT. It is a bet of the recovery in Calgary and Edmonton. At these price levels, the REIT is at a good entry level. It trades at a discount to book. Yield 2.4%
Jeffrey F. Olin
President & CEO, Vision Capital Corporation
Price
$41.990
Owned
Unknown
DON'T BUY
DON'T BUY
June 20, 2019
Within his conservative portfolio he moved 15% into the REIT sector. He likes the sector. But you have to be selective. It is charting lower lows and lower highs. It has to break that downward trend. Maybe good only for the income.
Within his conservative portfolio he moved 15% into the REIT sector. He likes the sector. But you have to be selective. It is charting lower lows and lower highs. It has to break that downward trend. Maybe good only for the income.
Keith Richards
Portfolio Manager, ValueTrend Wealth Management
Price
$40.750
Owned
No
HOLD
HOLD
March 20, 2019
He really likes it and its management who run 25% of the company. Problem is, they are recovering in Alberta, and so now BEI.UN IS shifting to Ontario, namely the GTA. Rents are rising except in Alberta (stable, not rising). He hopes this turns around.
He really likes it and its management who run 25% of the company. Problem is, they are recovering in Alberta, and so now BEI.UN IS shifting to Ontario, namely the GTA. Rents are rising except in Alberta (stable, not rising). He hopes this turns around.
Paul Gardner, CFA
Partner and Portfolio Manager, Avenue Investment Management
Price
$40.710
Owned
Unknown
COMMENT
COMMENT
November 1, 2018
REITs have performed pretty well here. This is going to be a choppy period. It is a safe haven for portfolio managers to hide in. He prefers others such as AP.UN-T or REI.UN-T.
Boardwalk REIT (BEI.UN-T)
November 1, 2018
REITs have performed pretty well here. This is going to be a choppy period. It is a safe haven for portfolio managers to hide in. He prefers others such as AP.UN-T or REI.UN-T.
Javed Mirza
Technical analyst, Canaccord Genuity
Price
$49.360
Owned
Unknown
DON'T BUY
DON'T BUY
September 11, 2018

The are focused on multi-family buildings in Western Canada (60% Alberta, 10% Saskatchewan). The stock has appreciated significantly over the past year, reflecting the improvement in the Alberta economy. They are now offering smaller move-in incentives because demand has improved. Over the long run, what will drive this stock will be the economy of Alberta, and so an investor should buy the stock (or not) based on their opinion of the Alberta economy’s future. The company is well-managed but its yield is only about 2%. She sees the stock as fully valued, with a yield that is too low for an income investor. Yield 2%.

Boardwalk REIT (BEI.UN-T)
September 11, 2018

The are focused on multi-family buildings in Western Canada (60% Alberta, 10% Saskatchewan). The stock has appreciated significantly over the past year, reflecting the improvement in the Alberta economy. They are now offering smaller move-in incentives because demand has improved. Over the long run, what will drive this stock will be the economy of Alberta, and so an investor should buy the stock (or not) based on their opinion of the Alberta economy’s future. The company is well-managed but its yield is only about 2%. She sees the stock as fully valued, with a yield that is too low for an income investor. Yield 2%.

Christine Poole
CEO & Managing Director, GlobeInvest Capital Management
Price
$50.350
Owned
No
HOLD
HOLD
August 24, 2018

Yields just under 2% so not being rewarded to hold stock if it moves down. Has broken out from a lid since 2016, which is a bullish indicator. It is probably over bought. It may pull back a bit.

Yields just under 2% so not being rewarded to hold stock if it moves down. Has broken out from a lid since 2016, which is a bullish indicator. It is probably over bought. It may pull back a bit.

Keith Richards
Portfolio Manager, ValueTrend Wealth Management
Price
$51.280
Owned
No
BUY
BUY
August 21, 2018

Has room to run. As in 2016, it saw a sharp uptrend, then a consolidation as the market needed time to digest that move, before it pushed higher. All bond proxies are starting to move up after a downtrend.

Has room to run. As in 2016, it saw a sharp uptrend, then a consolidation as the market needed time to digest that move, before it pushed higher. All bond proxies are starting to move up after a downtrend.

Javed Mirza
Technical analyst, Canaccord Genuity
Price
$51.450
Owned
Unknown
PAST TOP PICK
PAST TOP PICK
June 20, 2018

(Past Top Pick, January 23, 2017, Up 2%) He's looking closely at this after selling it. It's a good derivatives trade on oil improving and money returning to Alberta. The only problem is there hasn't been an absorption of new properties in Alberta yet though we likely will later this year.

(Past Top Pick, January 23, 2017, Up 2%) He's looking closely at this after selling it. It's a good derivatives trade on oil improving and money returning to Alberta. The only problem is there hasn't been an absorption of new properties in Alberta yet though we likely will later this year.

Steve DiGregorio
Portfolio Manager, Canoe Financial
Price
$45.960
Owned
No
PAST TOP PICK
PAST TOP PICK
October 19, 2017

(A Top Pick Sept 20/16. Down 15%.) Continues to like this because it is a relatively defensive asset class, lower income Housing. Western Canada has been particularly challenged given the downturn in energy. The market has been a little overreacting to the downturn. The benefit is that it has a relatively short lease term. Trades at a significant discount to NAV. Continue to Hold if you own. Dividend yield of 5.6%.

Boardwalk REIT (BEI.UN-T)
October 19, 2017

(A Top Pick Sept 20/16. Down 15%.) Continues to like this because it is a relatively defensive asset class, lower income Housing. Western Canada has been particularly challenged given the downturn in energy. The market has been a little overreacting to the downturn. The benefit is that it has a relatively short lease term. Trades at a significant discount to NAV. Continue to Hold if you own. Dividend yield of 5.6%.

Andy Nasr
VP & Investment Strategist, Sentry Investments
Price
$40.150
Owned
Yes
HOLD
HOLD
September 13, 2017

Missed very big last quarter. One problem is that most assets are in Calgary, Edmonton and Saskatchewan, and the rental market there has been incredibly weak. There are signs of stabilization. The trouble is they are competing with condos, and they have large buildings. Last quarter, they came out with a significant amount of capital expenditures they have to put into their buildings. The positive is that they have a balance sheet that allows them to do CapX spending. Fantastic management and they are the biggest shareholder. Getting closer to the bottom and there is some stabilization. If you own, stick with it, but don’t buy it. Distribution yield is 5.7%, which he thinks is pretty safe.

Boardwalk REIT (BEI.UN-T)
September 13, 2017

Missed very big last quarter. One problem is that most assets are in Calgary, Edmonton and Saskatchewan, and the rental market there has been incredibly weak. There are signs of stabilization. The trouble is they are competing with condos, and they have large buildings. Last quarter, they came out with a significant amount of capital expenditures they have to put into their buildings. The positive is that they have a balance sheet that allows them to do CapX spending. Fantastic management and they are the biggest shareholder. Getting closer to the bottom and there is some stabilization. If you own, stick with it, but don’t buy it. Distribution yield is 5.7%, which he thinks is pretty safe.

Paul Gardner, CFA
Partner and Portfolio Manager, Avenue Investment Management
Price
$39.030
Owned
No
DON'T BUY
DON'T BUY
August 24, 2017

He does not own any of the REITs. He backed away because of rising interest rates. He worries about commercial REITs in light of what AMZN-Q is doing. BEI.UN-T is in Calgary and he thinks that area will lift again.

He does not own any of the REITs. He backed away because of rising interest rates. He worries about commercial REITs in light of what AMZN-Q is doing. BEI.UN-T is in Calgary and he thinks that area will lift again.

Rick Stuchberry
Portfolio Manager, Wellington-Altus Private Wealth
Price
$40.400
Owned
No
TOP PICK
TOP PICK
January 23, 2017

A controversial call, because somebody downgraded it recently, which took the stock down a little. The yield is good and he likes management. A pristine balance sheet. Real estate is a laggard area, and he expects that part of the market to improve. Next 2 quarters are probably not going to be great and he is expecting a trough in Q2, which is when you really want to be in this, but you have to be 6 months ahead of that because the market is already looking for this. There is a 20% Short interest on this out of the US. Dividend yield of 4.70%. (Analysts’ price target is $46.68.)

Boardwalk REIT (BEI.UN-T)
January 23, 2017

A controversial call, because somebody downgraded it recently, which took the stock down a little. The yield is good and he likes management. A pristine balance sheet. Real estate is a laggard area, and he expects that part of the market to improve. Next 2 quarters are probably not going to be great and he is expecting a trough in Q2, which is when you really want to be in this, but you have to be 6 months ahead of that because the market is already looking for this. There is a 20% Short interest on this out of the US. Dividend yield of 4.70%. (Analysts’ price target is $46.68.)

Steve DiGregorio
Portfolio Manager, Canoe Financial
Price
$47.030
Owned
Yes
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