Boardwalk Real Estate: Q2 Earnings Snapshot

Aug. 12, 2021Updated: Aug. 12, 2021 6:49 p.m.

CALGARY, Alberta (AP) _ Boardwalk Real Estate Investment Trust (BOWFF) on Thursday reported a key measure of profitability in its second quarter.

The Calgary, Alberta-based real estate investment trust said it had funds from operations of $31.1 million, or 61 cents per share, in the period.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had net income of $41.2 million, or 89 cents per share.

The real estate investment trust that owns residential communities, based in Calgary, Alberta, posted revenue of $95.7 million in the period.

The company’s shares have increased 42% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $37.68, a rise of 56% in the last 12 months.


This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on BOWFF at

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