Boardwalk Real Estate: 3Q Earnings Snapshot

CALGARY, Alberta (AP) _ Boardwalk Real Estate Investment Trust (BOWFF) on Wednesday 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 $22.8 million, or 45 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 $25.3 million, or 54 cents per share.

The real estate investment trust that owns residential communities, based in Calgary, Alberta, posted revenue of $83.2 million in the period.

The company's shares have risen 17 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $37.61, a rise of 24 percent in the last 12 months.

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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on BOWFF at https://www.zacks.com/ap/BOWFF