CALGARY, Alberta (AP) _ Boardwalk Real Estate Investment Trust (BOWFF) on Tuesday reported a key measure of profitability in its third quarter.
The Calgary, Alberta-based real estate investment trust said it had funds from operations of $32.7 million, or 65 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 $36.1 million, or 78 cents per share.
The real estate investment trust that owns residential communities, based in Calgary, Alberta, posted revenue of $96.2 million in the period.
Boardwalk Real Estate expects full-year funds from operations in the range of $2.36 to $2.41 per share.
The company’s shares have declined 15% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $36.87, a decrease of 16% 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
