Raymond James Has Weak Outlook for TSE:BEI FY2024 Earnings

Boardwalk Real Estate Investment Trust (TSE:BEI) – Equities researchers at Raymond James reduced their FY2024 EPS estimates for Boardwalk Real Estate Investment Trust in a research report issued on Wednesday, October 23rd. Raymond James analyst B. Sturges now forecasts that the company will post earnings of $4.13 per share for the year, down from their prior forecast of $4.14. Raymond James has a “Moderate Buy” rating on the stock. Raymond James also issued estimates for Boardwalk Real Estate Investment Trust’s Q1 2025 earnings at $1.03 EPS, Q2 2025 earnings at $1.12 EPS, Q3 2025 earnings at $1.16 EPS, Q4 2025 earnings at $1.15 EPS, FY2025 earnings at $4.47 EPS, Q2 2026 earnings at $1.25 EPS, Q3 2026 earnings at $1.29 EPS and FY2026 earnings at $4.95 EPS.

Boardwalk Real Estate Investment Trust (TSE:BEI) last posted its earnings results on Tuesday, July 30th. The company reported C$2.33 earnings per share for the quarter, beating the consensus estimate of C$1.05 by C$1.28. The firm had revenue of C$149.07 million during the quarter, compared to analysts’ expectations of C$149.08 million.

Separately, Scotiabank raised Boardwalk Real Estate Investment Trust from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 1st.

Boardwalk Real Estate Investment Trust Price Performance

Boardwalk Real Estate Investment Trust has a 12-month low of C$37.96 and a 12-month high of C$49.75.

Boardwalk Real Estate Investment Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be issued a $0.12 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.44 dividend on an annualized basis and a dividend yield of ∞.

About Boardwalk Real Estate Investment Trust

Boardwalk Real Estate Investment Trust (the Trust) is an open-ended real estate investment trust (REIT). The Company is focused on the acquisition, refurbishment, management, ownership and development of multi-family residential communities within Canada. The Trust owns over 200 properties containing approximately 33,770 residential units within the Provinces of Alberta, Saskatchewan, Ontario and Quebec, representing over 30 million net rentable square feet.