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: | $6,585M 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: | 53,865,146 as of Apr 11, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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