Boardwalk Real Estate: Q3 Earnings Snapshot

CALGARY, Alberta (AP) — CALGARY, Alberta (AP) — Boardwalk Real Estate Investment Trust (BOWFF) on Tuesday reported a key measure of profitability in its third quarter.

The real estate investment trust, based in Calgary, Alberta, said it had funds from operations of $43 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 net income of $15.4 million, or 14 cents per share.

The real estate investment trust that owns residential communities, based in Calgary, Alberta, posted revenue of $114.2 million in the period.

The company's shares have dropped nearly 5% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $44.85, a decrease of slightly more than 1% 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