CALGARY, Alberta (AP) — CALGARY, Alberta (AP) — Boardwalk Real Estate Investment Trust (BOWFF) on Tuesday reported a key measure of profitability in its second quarter.
The real estate investment trust, based in Calgary, Alberta, said it had funds from operations of $44.7 million, or 84 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 $55.1 million, or $1.13 per share.
The real estate investment trust that owns residential communities, based in Calgary, Alberta, posted revenue of $113.7 million in the period.
Boardwalk Real Estate expects full-year funds from operations to be $3.24 to $3.35 per share.
The company’s shares have risen 17% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $51.99, a decline of slightly more than 9% 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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