Boardwalk Real Estate Investment Trust

OTCPK:BOWF.F Stock Report

Market Cap: US$2.6b

Boardwalk Real Estate Investment Trust Valuation

Is BOWF.F undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of BOWF.F when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
US$67.26
Fair Value
29.8% undervalued intrinsic discount
9
Number of Analysts

Below Fair Value: BOWF.F ($47.2) is trading below our estimate of fair value ($67.26)

Significantly Below Fair Value: BOWF.F is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for BOWF.F?

Key metric: As BOWF.F is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for BOWF.F. This is calculated by dividing BOWF.F's market cap by their current earnings.
What is BOWF.F's PE Ratio?
PE Ratio7.6x
EarningsCA$414.25m
Market CapCA$3.54b

Price to Earnings Ratio vs Peers

How does BOWF.F's PE Ratio compare to its peers?

The above table shows the PE ratio for BOWF.F vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average99.1x
IRT Independence Realty Trust
143.4x31.11%US$4.6b
CPT Camden Property Trust
106.5x18.12%US$13.1b
UDR UDR
113.8x14.89%US$14.9b
MAA Mid-America Apartment Communities
32.5x-2.98%US$19.3b
BOWF.F Boardwalk Real Estate Investment Trust
7.6xn/aUS$3.5b

Price-To-Earnings vs Peers: BOWF.F is good value based on its Price-To-Earnings Ratio (7.6x) compared to the peer average (99.1x).

Price to Earnings Ratio vs Industry

How does BOWF.F's PE Ratio compare vs other companies in the Global Residential REITs Industry?

5 CompaniesPrice / EarningsEstimated GrowthMarket Cap
BOWF.F 7.6xIndustry Avg. 24.0xNo. of Companies8PE01632486480+
5 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: BOWF.F is good value based on its Price-To-Earnings Ratio (7.6x) compared to the Global Residential REITs industry average (23.9x).

Price to Earnings Ratio vs Fair Ratio

What is BOWF.F's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

BOWF.F PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio7.6x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate BOWF.F's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst BOWF.F forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$47.20
US$57.42
+21.64%
5.00%US$61.00US$53.11n/a9
May ’26US$47.97
US$57.75
+20.41%
5.50%US$62.12US$52.01n/a10
Apr ’26US$46.70
US$56.83
+21.69%
4.61%US$60.22US$51.12n/a10
Mar ’26US$44.22
US$57.21
+29.37%
5.59%US$62.75US$50.90n/a10
Feb ’26US$43.38
US$57.96
+33.63%
6.43%US$62.51US$50.70n/a10
Jan ’26US$44.59
US$59.44
+33.33%
5.92%US$63.05US$50.58n/a10
Dec ’25US$50.64
US$64.09
+26.55%
5.08%US$69.71US$58.75n/a10
Nov ’25US$51.01
US$66.79
+30.94%
6.00%US$72.00US$61.02n/a10
Oct ’25US$63.00
US$68.17
+8.21%
5.78%US$74.02US$62.92n/a10
Sep ’25US$63.29
US$65.74
+3.87%
4.57%US$70.64US$61.27n/a10
Aug ’25US$57.26
US$65.74
+14.81%
4.57%US$70.64US$61.27n/a10
Jul ’25US$49.75
US$62.87
+26.38%
3.18%US$65.84US$59.26n/a9
Jun ’25US$50.62
US$62.87
+24.21%
3.18%US$65.84US$59.26n/a9
May ’25US$52.47
US$62.00
+18.16%
3.33%US$65.69US$58.39US$47.979
Apr ’25US$57.19
US$62.75
+9.73%
3.81%US$67.72US$59.07US$46.709
Mar ’25US$56.92
US$61.53
+8.11%
5.57%US$65.89US$53.31US$44.229
Feb ’25US$51.89
US$59.06
+13.81%
4.45%US$62.64US$53.69US$43.3810
Jan ’25US$53.80
US$58.75
+9.21%
5.25%US$63.35US$54.30US$44.5910
Dec ’24US$48.57
US$55.57
+14.41%
4.58%US$59.41US$52.17US$50.6410
Nov ’24US$47.61
US$54.30
+14.05%
4.83%US$58.00US$50.75US$51.0110
Oct ’24US$49.23
US$55.46
+12.65%
5.12%US$61.52US$51.88US$63.0011
Sep ’24US$50.98
US$55.08
+8.05%
4.44%US$59.11US$51.72US$63.2911
Aug ’24US$49.14
US$54.03
+9.96%
5.19%US$58.37US$50.41US$57.2611
Jul ’24US$46.50
US$53.70
+15.48%
5.10%US$59.26US$50.20US$49.7511
Jun ’24US$44.59
US$53.06
+19.00%
5.12%US$58.29US$49.38US$50.6210
May ’24US$43.24
US$49.87
+15.34%
4.54%US$55.25US$47.41US$52.4710
AnalystConsensusTarget
Consensus Narrative from 9 Analysts
US$58.51
Fair Value
19.3% undervalued intrinsic discount
9
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/05/21 03:17
End of Day Share Price 2025/05/21 00:00
Earnings2025/03/31
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Boardwalk Real Estate Investment Trust is covered by 23 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Michael MarkidisBMO Capital Markets Equity Research
Karine MacIndoeBMO Capital Markets Equity Research
Christopher KoutsikaloudisCanaccord Genuity