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 (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BOWFF at https://www.zacks.com/ap/BOWFF