Boardwalk Real Estate reports 4Q results

Boardwalk Real Estate Investment Trust posts 4Q FFO of $22.2 million

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

The real estate investment trust, based in Calgary, Alberta, said it had funds from operations of $22.2 million, or 43 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 a loss of $63.4 million, or $1.42 per share.

The real estate investment trust that owns residential communities, based in Calgary, Alberta, posted revenue of $79.5 million in the period.

For the year, the company reported funds from operations of $109.1 million. Revenue was reported as $331.4 million.

The company's shares have risen slightly more than 2 percent since the beginning of the year. The stock has climbed 21 percent 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

_____

Keywords: Boardwalk Real Estate Investment Trust, Earnings Report

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.
Loading...