Boardwalk Real Estate: 3Q Earnings Snapshot

Boardwalk Real Estate Investment Trust (BOWFF) on Thursday 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 $28.4 million, or 56 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 $23.6 million, or 59 cents per share.

The real estate investment trust that owns residential communities, based in Calgary, Alberta, posted revenue of $87.2 million in the period.

The company’s shares have decreased 35% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $23, a drop of 31% in the last 12 months.