Boardwalk Real Estate Investment Trust (FRA:YG8) Cyclically Adjusted PB Ratio: (As of Sep. 20, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

FRA:YG8 Boardwalk Real Estate Investment Trust FRA:YG8
71 GF Score
Price €36.84
GF Value €45.57
! 5 Warning Signs
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What is Boardwalk Real Estate Investment Trust Cyclically Adjusted PB Ratio?

Note: If the price history is too short, we do not calculate current Cyclically Adjusted PB Ratio for this stock. All the historical data is shown as the company's primary share's data instead.

Shiller PE for Stocks: The True Measure of Stock Valuation


Boardwalk Real Estate Investment Trust  (FRA:YG8) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


Boardwalk Real Estate Investment Trust Cyclically Adjusted PB Ratio Related Terms


Boardwalk Real Estate Investment Trust Cyclically Adjusted PB Ratio Historical Data

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The historical data trend for Boardwalk Real Estate Investment Trust's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Boardwalk Real Estate Investment Trust Cyclically Adjusted PB Ratio Chart

Boardwalk Real Estate Investment Trust Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
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Boardwalk Real Estate Investment Trust Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
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FRA:YG8 vs VMRK, EQR, ESS: Cyclically Adjusted PB Ratio Comparison

For the REIT - Residential subindustry, Boardwalk Real Estate Investment Trust's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Boardwalk Real Estate Investment Trust Cyclically Adjusted PB Ratio vs REITs Industry

For the REITs industry and Real Estate sector, Boardwalk Real Estate Investment Trust's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Boardwalk Real Estate Investment Trust's Cyclically Adjusted PB Ratio falls into.


FRA:YG8
71GF Score
Boardwalk Real Estate Investment Trust FRA:YG8
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Boardwalk Real Estate Investment Trust Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

Boardwalk Real Estate Investment Trust's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Boardwalk Real Estate Investment Trust's adjusted Book Value per Share data for the three months ended in Jun. 2026 was:

Adj_Book=Book Value per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=93.061/333.9520*333.9520
=93.061

Current CPI (Jun. 2026) = 333.9520.

Boardwalk Real Estate Investment Trust Quarterly Data

Book Value per Share CPI Adj_Book
201609 61.734 241.428 85.393
201612 59.547 241.432 82.366
201703 59.367 243.801 81.319
201706 60.101 244.955 81.937
201709 60.454 246.819 81.796
201712 58.599 246.524 79.381
201803 59.729 249.554 79.929
201806 60.618 251.989 80.335
201809 61.037 252.439 80.746
201812 61.468 251.233 81.706
201903 61.081 254.202 80.244
201906 62.260 256.143 81.173
201909 63.580 256.759 82.695
201912 61.215 256.974 79.552
202003 62.062 258.115 80.296
202006 61.142 257.797 79.204
202009 60.296 260.280 77.363
202012 56.374 260.474 72.277
202103 56.714 264.877 71.504
202106 57.469 271.696 70.637
202109 61.854 274.310 75.303
202112 64.277 278.802 76.992
202203 65.443 287.504 76.016
202206 68.310 296.311 76.988
202209 69.031 296.808 77.670
202212 69.067 296.797 77.713
202303 73.224 301.836 81.015
202306 77.582 305.109 84.916
202309 78.101 307.789 84.740
202312 80.205 306.746 87.319
202403 85.628 312.332 91.555
202406 88.252 314.175 93.807
202409 88.944 315.301 94.205
202412 89.969 315.605 95.199
202503 92.349 319.799 96.436
202506 93.620 322.561 96.926
202509 93.931 324.800 96.578
202512 92.879 324.054 95.716
202603 92.874 330.213 93.926
202606 93.061 333.952 93.061

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is Boardwalk Real Estate Investment Trust (FRA:YG8) Overvalued in 2026?

Based on GuruFocus' analysis, Boardwalk Real Estate Investment Trust stock appears to be undervalued. The current stock price of €36.84 is trading 19.2% below its estimated GF Value™ of €45.57.

Key valuation signals for FRA:YG8:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €45.57 vs. price of €36.84 (19.2% below fair value)
  • GF Score™: 71/100 with 5 warning signs

No single metric tells the full story. See the FRA:YG8 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Boardwalk Real Estate Investment Trust Business Description

Industry Real EstateREITs
Other Exchanges BOWFF:USABEI.UN:Canada
Address 1501 - 1st Street S.W, Suite 200, First West Place, Calgary, AB, CAN, T2R 0W1
Boardwalk Real Estate Investment Trust is a fully integrated, Resident Member/customer-oriented real estate investment trust focused on and specializing in the acquisition, refurbishment, management, ownership and development of affordable multi-family residential communities. It looks to acquire, develop, own and manage quality rental communities concentrated in attractive growth markets. Boardwalk owned over 200 properties containing 34,405 residential suites in British Columbia, Alberta, Saskatchewan, Ontario, and Quebec, representing over 29 million net rentable square feet.
71GF Score

Get the complete analysis for FRA:YG8

Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€36.84
Price
€45.57
GF Value