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Boardwalk Real Estate Investment Trust (T:BEI.UN)

Business Focus: Residential REITs

Sector:  Real Estate Industry:  Residential REITs
 
Company Contact
Address: 200, 1501 - 1st Street S.W.
CALGARY AB T2R 0W1
Tel: N/A
Website: https://www.bwalk.com
IR: See website
Key People
Sam Kolias
Chairman of the Board of Trustees, Chief Executive Officer, Trustee
Razvan Costin
Vice President - Operations, Northern Alberta
James Ha
President
Lisa Smandych
Chief Financial Officer
Leonora Davids
Senior Vice President - Operations
Van Kolias
Senior Vice President - Quality Control
Bhavnesh Jaraim
Chief Information Officer, Vice President - Technology
John Eric Bowers
Vice President - Finance, Director of Investor Relations
Helen Mix
Vice President - People
Boyd Belisle
Vice President - Community & Culture
   
Business Overview
Boardwalk Real Estate Investment Trust (Trust) is a Canada-based open-ended real estate investment trust, which owns/operates multi-family rental communities. It provides homes in more than 200 communities, with over 33,000 residential suites totaling over 29 million net rentable square feet. Its brands include Boardwalk Living, Boardwalk Communities, and Boardwalk Lifestyle. Its three-tiered brands, namely Boardwalk Living, Boardwalk Communities, and Boardwalk Lifestyle, caters to a diverse demographic. Its objectives are to provide Resident Members with superior quality rental communities and the best tenant/customer service, provide its holders of Trust Units with stable monthly cash distributions, and to increase the value of the Trust Units through the effective management of its residential multi-family revenue producing properties, renovations and upgrades to its current portfolio, and the acquisition and/or development of additional, accretive properties or interests therein.
Financial Overview
For the fiscal year ended 31 December 2023, Boardwalk Real Estate Investment Trust revenues increased 10% to C$545.7M. Net income increased from C$283.1M to C$666.1M. Revenues reflect Lease revenue segment increase of 10% to C$520.9M, FFO per Share (Basic) increase of 15% to C$3.6. Net income benefited from Net Operating Income (NOI)- Alberta increase of 19% to C$212.1M.
Employees: 1,558 as of Dec 31, 2023
Reporting Currency: Canadian Dollars
Enterprise value: $6,911M as of Dec 31, 2023
Annual revenue (TTM): $545.66M as of Dec 31, 2023
EBITDA (TTM): $288.49M as of Dec 31, 2023
Net annual income (TTM): $666.10M as of Dec 31, 2023
Free cash flow (TTM): $145.91M as of Dec 31, 2023
Net Debt Last Fiscal Year: $3,064M as of Dec 31, 2023
Shares outstanding: 53,863,174 as of Jan 10, 2024
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization