Boardwalk REIT Reports Strong Q1 2025 Results

Boardwalk Real Estate Investment Trust ( (BOWFF) ) has released its Q1 earnings. Here is a breakdown of the information Boardwalk Real Estate Investment Trust presented to its investors.

Boardwalk Real Estate Investment Trust (REIT) is a Canadian company specializing in providing multi-family residential communities, known for its focus on quality affordable housing across the country.

In its latest earnings report for the first quarter of 2025, Boardwalk REIT announced strong financial results, highlighted by a significant increase in Funds From Operations (FFO) and Net Operating Income (NOI), driven by resilient demand for affordable housing.

The company reported a notable 11.6% increase in FFO per unit, reaching $1.06, and a 10.3% rise in NOI compared to the same period last year. Despite a slight decrease in occupancy to 97.8%, rental revenue grew by 7.5% year-over-year. Boardwalk also maintained a strong balance sheet with $272.8 million in available liquidity and a debt-to-total-assets ratio of 39.9%. Strategic capital allocation included the acquisition of new properties and the repurchase of Trust Units, enhancing its portfolio’s quality and growth potential.

Looking ahead, Boardwalk REIT remains optimistic about its financial performance for the remainder of 2025, with expectations of continued revenue and NOI growth, particularly in its largest market, Edmonton. The company is also focused on maintaining high occupancy rates and leveraging its capital allocation strategy to maximize returns for stakeholders.