CALGARY, Alberta (AP) — CALGARY, Alberta (AP) — Boardwalk Real Estate Investment Trust (BOWFF) on Tuesday reported a key measure of profitability in its first quarter.
The Calgary, Alberta-based real estate investment trust said it had funds from operations of $37.9 million, or 70 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 $228.3 million, or $4.62 per share.
The real estate investment trust that owns residential communities, based in Calgary, Alberta, posted revenue of $107.7 million in the period.
The company’s shares have fallen nearly 2% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $52.96, a rise of 22% in the last 12 months.
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