CALGARY, Alberta (AP) _ Boardwalk Real Estate Investment Trust (BOWFF) on Tuesday reported a key measure of profitability in its second quarter.
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The real estate investment trust, based in Calgary, Alberta, said it had funds from operations of $31.6 million, or 63 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 $119.5 million, or $1.21 per share.
The real estate investment trust that owns residential communities, based in Calgary, Alberta, posted revenue of $95.8 million in the period.
Boardwalk Real Estate expects full-year funds from operations in the range of $2.35 to $2.47 per share.
The company’s shares have decreased 13% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $37.65, a rise of almost 3% 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
