BNN crowd all mad they missed BEI?!?! Good.
Really can't make this kind stuff up. While I was consulting for largest investment firm in Canada, their REIT analysts had BEI downgraded to SELL immediately after dividend was cut back in 2018. Big mistake.
All these bank owned firms have been scared of O&G and Alberta. Looking for excuses to transact client accounts. Nonsense.
I've got people with low $20 acb's on this and I'm laughing at the investment firms who bailed on a conservative, high quality business during peak-fear 2020. Anyone still here deserves this outperformance because they had the vision and courage to see through the fear and noise.
A few years from now I would not be surprised to see a $2 annual distribution and NAV keep on building. $85+ sp will not surprise me at all in 2024-2025. Sit on your hands, get paid, let the NAV grow.
Founders here are good people. They care about the company. I believe in them. Recent outperformace is justified when a company goes from "doghouse" status to "rising-star" status.
Fear has turned to Greed. Simple as that.
We have now officially achieved "resented" status as BNN personalities as they complain they missed this boat.
Now making excuses why their clients don't own it. Never too late. But they are too proud to admit they made a mistake. The story turns to blame. Russia's occupation of Ukraine the reason for Alberta recovery; unbelievably ignorant statement. This is what happens when you have analysts and commentators, with bias against fossil fuels, making client recommendations.
73% of BEI properties in AB/SK; the two provinces that Eastern Canada detests. Where do most of the REIT analysts live? Scamdemic central - downtown Toronto in apartments and condos. There is a big world out there outside of your $2mm condos.
https://www.stockwatch.com/News/Item/Z-C!BEI-3227646/C/BEI FP says analysts ponder Boardwalk REIT's excellent run
2022-03-29 09:05 ET - In the News
The Financial Post reports in its Tuesday edition that Boardwalk REIT has been on a tear, soaring past its pandemic-stricken peers as the oil boom spurs demand in Canada's energy industry hub. The Post's Stefanie Marotta writes that Boardwalk's share price has surged 54 per cent in the past year, climbing along with oil and gas prices as economies dropped their pandemic restrictions and Russia invaded Ukraine. The REIT's climb bucks the trend of other housing stocks, which have underperformed the rest of the sector in the last seven months. Alberta accounts for more than 60 per cent of Boardwalk's portfolio of properties. The Post notes that as the price of oil climbed in the fourth quarter of last year, Boardwalk's same-property net operating income jumped 3.5 per cent from the same period a year earlier, driven by growth in the country's energy corridor in Alberta and Saskatchewan. Analysts are split on the stock's outlook, with "hold" the most common recommendation. After energy firms struggled through years of depressed oil prices, many have shrunk their operations, so Boardwalk should not count on the energy industry to drive sustained housing demand, according to BMO Capital Markets analyst Joanne Chen.
HILARIOUSLY IGNORANT