Boardwalk REIT's 35% NAV Discount as a Buy Opportunity

If you're looking for a high-quality residential REIT that's trading at a significant discount to its intrinsic value, look no further than Boardwalk REIT (TSX: BEI.UN). , this Canadian affordable housing specialist is offering investors a rare combination of strong fundamentals and undervaluation. Let's break down why this could be a compelling opportunity.

Strong Fundamentals: A REIT on the Rise

Boardwalk REIT's Q3 2025 results paint a picture of a company in motion. According to Morningstar, , . , a testament to the enduring demand for affordable housing in its core markets.

, . These numbers aren't just impressive-they're indicative of a REIT that's mastering the art of capital allocation. Research indicates , cost control, and strong are creating a virtuous cycle of growth.

Undervaluation: A Mispricing Waiting to Be Corrected

Despite these strong fundamentals, Boardwalk is trading at a steep discount to its NAV. As of Q3 2025, , . This mispricing is even more glaring when compared to valuation metrics. Data from SimplyWall St .

A further reinforces this undervaluation, . For income-focused investors, . These metrics scream for a re-rating, especially as market sentiment toward residential REITs begins to shift.

Strategic Buybacks: A Catalyst for Value Creation

Boardwalk isn't just sitting on its hands-it's actively working to close the valuation gap. On November 20, 2025, the REIT announced the renewal of its , , . This aggressive , set to run until November 2026, is a clear signal that management believes the stock is undervalued.

The strategic rationale is straightforward: repurchasing shares at a discount to NAV creates immediate . As of Q3, . With $379.6 million in total liquidity , .

Why This Is a Buy Opportunity

Boardwalk REIT's story is one of disciplined and sector-specific strength. The remains resilient, with demand outpacing supply in key regions. Meanwhile, the REIT's balance sheet is a fortress, and its buyback program is a direct attack on the .

For investors, , , . As the market begins to recognize Boardwalk's , .