AP NEWS

Boardwalk Real Estate: 3Q Earnings Snapshot

November 15, 2019

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

The Calgary, Alberta-based real estate investment trust said it had funds from operations of $27.9 million, or 53 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 $60.3 million, or $1.30 per share.

The real estate investment trust that owns residential communities, based in Calgary, Alberta, posted revenue of $86.9 million in the period.

The company’s shares have climbed 22% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $33.91, a decrease of almost 10% in the last 12 months.

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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