CALGARY, Alberta (AP) — 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 $42.7 million, or 79 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 $48.1 million, or a loss of 42 cents per share.
The real estate investment trust that owns residential communities, based in Calgary, Alberta, posted revenue of $113.5 million in the period.
For the year, the company reported funds from operations of $164.8 million. Revenue was reported as $440.3 million.
Boardwalk Real Estate expects full-year funds from operations to be $3.10 to $3.32 per share.
The company’s shares have increased slightly since the beginning of the year. In the final minutes of trading on Thursday, shares hit $44.71, a decline of 18% 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
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