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Financial Reports
Q4 - 2009 Highlights
Highlights of the Trust’s Fourth Quarter 2009 Financial Results include:
- Rental revenue of $427.7 million, an increase of 1.9%, compared to $419.8 million for the twelve-month period ended December 31, 2008.
- Net operating income of $276.1 million, an increase of 4.7%, compared to $263.7 million for the twelve-month period ended December 31, 2008.
- FFO of $133.1 million, an increase of 2.4%, compared to $129.9 million for the twelve month period ended December 31, 2008.
- FFO per Unit was $2.51 on a diluted basis, up 5.0%, compared to $2.39 for the twelve month period ended December 31, 2008.
- DI per Unit was $2.55, up 5.8%, from the $2.41 per Unit for the twelve month period ended December 31, 2008.
The Company
Boardwalk REIT is an open-ended real estate investment trust formed to acquire all of the assets and undertakings of Boardwalk Equities Inc. Boardwalk REIT's principal objectives are to provide its unitholders with monthly cash distributions, partially on a Canadian income tax-deferred basis, and to increase the value of its units through the effective management of its residential multi-family revenue producing properties and the acquisition of additional properties. Boardwalk REIT currently owns and operates in excess of 260 properties with 36,419 units totalling approximately 31 million net rentable square feet, and is Canada's largest public owner/operator of multi-family rental communities. Boardwalk REIT's portfolio is concentrated in the provinces of Alberta, British Columbia, Saskatchewan, Ontario and Quebec
Boardwalk REIT's Trust units are listed on the Toronto Stock Exchange, trading under the symbol BEI.UN. The Trust's total market capitalization at December 31, 2009 was 2.0 billion.
Our Mission Statement
"to serve and provide our residents with quality rental communities"
Boardwalk R.E.I.T. Contact Information
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Boardwalk Head Office |
Zoe Geddes-Soltess
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David McIlveen
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