Boardwalk Real Estate: Q3 Earnings Snapshot

 Boardwalk Real Estate: Q3 Earnings Snapshot

CALGARY, Alberta (AP) _ Boardwalk Real Estate Investment Trust (BOWFF) on Thursday 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 $32.2 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 $187.1 million, or $4.02 per share.

The real estate investment trust that owns residential communities, based in Calgary, Alberta, posted revenue of $94.1 million in the period.

The company’s shares have increased 61% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $42.66, a rise of 82% in…

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