Boardwalk Real Estate Investment Trust
BEI.UN
ISIN null / Valor 1855764
Boardwalk Real Estate Investment Trust
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About company
Boardwalk Real Estate Investment Trust (REIT) is a prominent Canadian real estate investment trust specializing in the acquisition, refurbishment, management, and ownership of multi-family residential communities. Since its inception in 1984 by brothers Sam and Van Kolias, Boardwalk has grown significantly, expanding its portfolio across four provinces in Canada. The company went public in 1994 and transitioned to a REIT in 2004, a move that allowed it to benefit from tax advantages while distributing most of its net taxable income to unitholders. With over 30,000 suites and serving more than 55,000 resident members, Boardwalk focuses on providing quality apartments for rent, fostering community spirit, and ensuring a high level of service to its residents. In addition to residential properties, Boardwalk also leases commercial and retail office space across Canada, catering to a variety of business needs. Through strategic partnerships, such as with RioCan REIT in 2018 to develop a mixed-use building in Calgary, and a commitment to affordable housing, Boardwalk continues to grow and diversify its portfolio while maintaining a strong focus on community and resident satisfaction.
Summarized from source with an LLMView SourceSector: FinanceLatest Results (10.10.2025):
Boardwalk Real Estate Investment Trust reported strong financial results for the second quarter of 2025, demonstrating significant growth in key performance indicators such as Funds From Operations (FFO), Net Operating Income (NOI), and operating margins. The Trust's robust financial performance underscores its resilient operating platform and strategic initiatives aimed at enhancing shareholder value.
Funds From Operations (FFO) Growth
In Q2 2025, Boardwalk REIT achieved an FFO of $1.16 per Unit, reflecting an 11.5% increase compared to Q2 2024. For the six-month period ended June 30, 2025, FFO reached $2.22 per Unit, up 11.6% from the same period the previous year.
Net Operating Income (NOI) Increase
The Trust's NOI for Q2 2025 was $104.2 million, marking a 9.0% rise from Q2 2024. On a six-month basis, NOI totaled $200.8 million, a 9.6% increase year-over-year, driven by strong rental revenue growth and effective property management.
Operating Margin Enhancement
Boardwalk REIT reported an operating margin of 66.2% for Q2 2025, up by 210 basis points compared to Q2 2024. Over the first six months of 2025, the operating margin improved to 64.1%, an increase of 190 basis points from the previous year.
Same Property Performance
Same Property NOI for Q2 2025 stood at $104.4 million, a 9.8% increase from Q2 2024. Rental revenue from same properties grew by 6.2% year-over-year, supported by high occupancy rates of 97.9%.
Strong and Flexible Balance Sheet
As of June 30, 2025, Boardwalk REIT maintained approximately $324.6 million in total available liquidity and a debt to EBITDA ratio of 9.77x, down from 10.08x at year-end 2024. The Trust's Net Asset Value increased to $97.32 per Unit, driven by higher rental rates in key markets.
Updated Financial Guidance
The Trust has revised its 2025 financial guidance, projecting FFO in the range of $4.48 to $4.63 per Unit and Same Property NOI growth between 8.0% and 10.0%, reflecting confidence in continued operational performance and market conditions.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
2234 M
Market cap (USD)
48,848
Daily traded volume (Shares)
63.95 / 62.8
1 day high/low (USD)
52 weeks high/low (USD)
Dividend ex-date
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Dividend yield (p.a.)
Est dividend (USD)
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EPS (USD)
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Ratings & reviews
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