CALGARY, Alberta (AP) 鈥� CALGARY, Alberta (AP) 鈥� 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 million, or 86 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 $9.7 million, or 21 cents per share.
The real estate investment trust that owns residential communities, based in Calgary, Alberta, posted revenue of $116.2 million in the period.
Boardwalk Real Estate expects full-year funds from operations to be $3.36 to $3.54 per share.
The company’s shares have fallen roughly 1% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $46.75, a decline of 10% in the last 12 months.
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