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An update from Boardwalk REIT ( ($TSE:BEI.UN) ) is now available.
Boardwalk REIT announced a significant transaction involving the sale of two older communities in Edmonton for $24.1 million and the acquisition of Central Parc 1, 2, and 3 in Laval, Québec for $249.0 million. This move is part of their capital upcycling program and expands their presence in the Greater Montreal area, a market known for its strength and affordability. The acquisition is expected to increase the company’s Funds from Operations per Unit, highlighting a strategic shift towards more modern, amenity-rich properties that offer affordable luxury to residents.
The most recent analyst rating on ($TSE:BEI.UN) stock is a Buy with a C$79.00 price target. To see the full list of analyst forecasts on Boardwalk REIT stock, see the TSE:BEI.UN Stock Forecast page.
Spark’s Take on TSE:BEI.UN Stock
According to Spark, TipRanks’ AI Analyst, TSE:BEI.UN is a Outperform.
Boardwalk REIT’s strong financial performance and attractive valuation are the primary drivers of its overall stock score. The company’s robust profitability, efficient operations, and strategic growth initiatives position it well in the residential REIT sector. Technical indicators suggest some short-term bearish trends, but the stock’s valuation and positive earnings outlook provide a solid foundation for potential future growth.
To see Spark’s full report on TSE:BEI.UN stock, click here.
More about Boardwalk REIT
Boardwalk REIT is a leading provider of multi-family communities in Canada, offering homes in over 200 communities with approximately 34,000 residential suites. It operates under three distinct brands: Boardwalk Living, Boardwalk Communities, and Boardwalk Lifestyle, catering to a diverse demographic and focusing on building better communities.
Average Trading Volume: 98,439
Technical Sentiment Signal: Strong Buy
Current Market Cap: C$3.76B
For a thorough assessment of BEI.UN stock, go to TipRanks’ Stock Analysis page.