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Boardwalk Real Estate: 4Q Earnings Snapshot

·1 min read

CALGARY, Alberta (AP) _ Boardwalk Real Estate Investment Trust (BOWFF) on Thursday reported a key measure of profitability in its fourth quarter.

The Calgary, Alberta-based real estate investment trust said it had funds from operations of $26.3 million, or 51 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 $144.6 million, or $3.11 per share.

The real estate investment trust that owns residential communities, based in Calgary, Alberta, posted revenue of $89.4 million in the period.

For the year, the company reported funds from operations of $104.3 million. Revenue was reported as $347.6 million.

The company's shares have increased 11% since the beginning of the year. The stock has decreased 22% 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