Boardwalk Real Estate Investment Trust ( (BOWFF) ) has released its Q4 earnings. Here is a breakdown of the information Boardwalk Real Estate Investment Trust presented to its investors.
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Boardwalk Real Estate Investment Trust (REIT) is a prominent player in the Canadian real estate industry, specializing in providing high-quality, affordable multi-family housing across several provinces, with a focus on sustainable community development.
In its latest earnings report for 2024, Boardwalk REIT announced robust financial results, marked by significant growth in key metrics such as Funds From Operations (FFO) and Net Operating Income (NOI), alongside a 12.5% increase in distributions and the introduction of optimistic financial guidance for 2025.
The REIT reported a 16.1% increase in FFO per unit to $4.18 for the year, while NOI grew by 14.8% to $382.3 million, reflecting strong revenue growth and effective cost management. The operating margin improved to 63.4%, and the Trust’s focus on affordable housing in major Canadian cities remains a key driver of demand, as evidenced by a high occupancy rate of 98.0% for Q4 2024.
Boardwalk has strategically reinvested in its portfolio, completing significant property sales and acquisitions to optimize returns and expand its market presence. The company also maintains a strong liquidity position with approximately $368.2 million available, which will support future investments and debt management.
Looking ahead, Boardwalk REIT remains optimistic about its growth prospects in 2025, projecting continued NOI growth and stable FFO per unit performance. The Trust’s emphasis on high-quality, affordable housing is expected to sustain its strong market position amid changing economic conditions.
