Boardwalk Real Estate Investment Trust

Boardwalk Real Estate Investment Trust

BOWFF
Boardwalk Real Estate Investment TrustUS flagOther OTC
46.57
USD
- -
- -
2.22BMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
9.47
9.91
10.04
9.47
9.14
9.38
9.81
10.01
10.11
10.82
11.91
12.21
13.03
12.66
Basic EPS, GAAP
6.8
5.17
0.61
-1.24
1.24
4.17
0.75
-4.24
9.59
6.17
14.54
11.91
4.02
6.75
Free Cash Flow per Basic Share
3.4
3.48
3.45
2.78
1.95
2.14
3.34
0.59
0.75
0.69
1.61
2.18
2.47
2.02
Dividend per Share
1.97
2.03
3.44
3.23
2.25
1.11
1
1.08
1.08
1.15
1.25
1.49
1.71
1.61
Book Value per Share
68.98
70.31
67.68
65.19
64.32
67.48
67.17
61.82
69.91
75.61
94.27
97.9
100.36
101.61
Tangible Book Value per Share
68.91
70.29
67.68
65.19
64.32
67.48
67.17
61.82
69.91
75.61
94.27
97.9
100.36
101.61
Basic Weighted Avg Shares
48
48
47
46
46
46
46
47
47
46
46
49
49
49
Sales/Revenue/Turnover
454
473
476
439
423
435
455
466
471
496
546
603
639
622
Operating Margin (%)
54.63
53.69
53.83
48.75
41.87
41.75
45.92
47.6
49.06
49.25
51.42
53.68
56.07
54.66
Depreciation Expense
12
12
10
5
6
7
9
8
8
8
8
8
9
9
Net Income, GAAP
338
247
29
-57
57
193
35
-197
446
283
666
588
197
331
Effective Tax Rate (%)
0.17
0.02
0.73
- -
0.24
0.01
- -
- -
- -
0.03
0.01
0.01
- -
- -
Profit Margin (%)
74.46
52.15
6.06
-13.09
13.54
44.45
7.64
-42.37
94.84
57.03
122.07
97.5
30.83
53.28
Working Capital
-397
-458
-163
-297
-244
-569
-391
-456
-513
-495
-558
-751
-1,173
-937
LT Debt
1,794
1,702
1,973
2,092
2,334
2,131
2,492
2,533
2,547
2,786
2,892
2,734
2,676
2,580
Total Equity
3,300
3,358
3,211
3,021
2,978
3,127
3,118
2,876
3,253
3,467
4,320
4,837
4,918
4,991
Return on Invested Capital (%)
4.55
4.58
4.62
- -
3.2
3.18
- -
- -
- -
3.73
3.88
4.07
- -
4.15
Return on Capital (%)
7.71
5.87
1.85
- -
2.33
4.64
- -
- -
- -
5.62
10.57
8.74
- -
5.38
Return on Common Equity (%)
10.24
7.41
0.88
-1.84
1.91
6.33
1.11
-6.58
14.56
8.43
17.11
12.85
4.04
6.8

Capital Structure

FRC

in mil. unless spec.
Dec'24
Mar'25
Jun'25
ST Debt
629
702
707
LT Borrowings
2,661
2,573
2,507
LT Finance Leases
73
72
73
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
54
53
53
Market Capitalization
3,266
3,412
3,427

Working Capital

FRC

in mil. unless spec.
Dec'24
Mar'25
Jun'25
Total Current Assets
301
137
257
Cash, Cash Equivalents & STI
122
27
26
Accounts Receivable, Net
9
9
9
Inventories
6
7
6
Total Current Liabilities
1,053
1,114
1,193
Payables & Accruals
77
79
82
ST Debt
629
702
707
Deferred Revenue
17
17
17

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
4.75%
11.58%
1.68%
Free Cash Flow
14.21%
41.9%
12.09%
Net Income, GAAP
-131.63%
-61.14%
-66.53%
Sales/Revenue/Turnover
3.12%
6.58%
5.86%
Total Cash Common Dividend
-3.48%
11.11%
13.66%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
145
149
153
156
603
2025
156
157
165
- -
639
2026
164
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
6.23
2.95
1.12
- -
11.91
2025
2.73
1.56
- -
- -
4.02
2026
-0.11
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.29
0.33
0.48
- -
1.49
2025
0.36
0.4
- -
- -
1.71
2026
0.41
- -
- -
- -
- -

Company Description

MCPAPIChat
CEO
Sam Kolias
Full Time Employees
1,558
Sector
Real Estate
Industry
REIT - Residential
Address
First West Professional Building Calgary AB Canada T2R 0W1
IPO Date
Aug 25, 2006
Website
bwalk.com
Business
Boardwalk Real Estate Investment Trust (BEI.UN) is a Canada-based open-ended real estate investment trust focused on the acquisition, development, ownership and management of multi-family residential rental communities across Canada. The trust owns and operates over 34,000 residential suites in more than 200 communities totaling approximately 29 million net rentable square feet, with properties concentrated in Alberta, Saskatchewan, Ontario, Quebec and British Columbia; its portfolio features three distinct brands—Boardwalk Living, Boardwalk Communities and Boardwalk Lifestyle—targeting diverse demographics from affordable housing to premium lifestyle options. Founded in 1984 as Boardwalk Properties Co. Ltd. by Sam Kolias and Van Kolias, with headquarters in Calgary, Alberta, the company converted Boardwalk Equities Inc. to a REIT structure in 2004 and lists its trust units on the Toronto Stock Exchange under BEI.UN (OTC: BOWFF). Core activities encompass value-added renovations, opportunistic acquisitions, development initiatives and ongoing property management to optimize net operating income and deliver stable monthly distributions to unitholders. Recent developments include the acquisition of a 158-suite high-rise in Calgary's Beltline district for $62 million, expected to close in August 2025; the purchase of the 255-unit Elbow 5 Eight property in Calgary for $93 million, completed in early 2025; multiple Alberta acquisitions totaling $109 million in 2024 such as The Circle (295 units); renewal of its normal course issuer bid in November 2025 to repurchase units using proceeds from non-core asset sales; and key executive appointments in 2025 including Marie Ma as Vice President, Resident Care and Tribunal Affairs, and Gillian Calderon Dominguez as Vice President, People.

Company News

MCPAPIChat
  • BOARDWALK REIT RELEASES 2025 ESG REPORT

  • BOARDWALK REIT REPORTS STRONG RESULTS FOR Q1 2026

  • BOARDWALK REIT ANNOUNCES VOTING RESULTS FROM 2026 ANNUAL MEETING OF UNITHOLDERS

  • BOARDWALK REIT PROVIDES OPERATIONAL AND CAPITAL ALLOCATION UPDATE AND ANNOUNCES TIMING OF FIRST QUARTER RESULTS

  • UMH Properties (NYSE:UMH) & Boardwalk Real Estate Investment Trust (OTCMKTS:BOWFF) Head to Head Comparison

  • Boardwalk Real Estate Investment Trust (OTCMKTS:BOWFF) Shares Gap Down – What’s Next?

  • Boardwalk Real Estate Investment Trust (BEI.UN:CA) Q4 2025 Earnings Call Transcript

  • BOARDWALK REIT REPORTS STRONG RESULTS FOR 2025, INCREASES DISTRIBUTION BY 11.1% AND INTRODUCES GUIDANCE FOR 2026

  • Broadstone Net Lease (NYSE:BNL) & Boardwalk Real Estate Investment Trust (OTCMKTS:BOWFF) Head-To-Head Survey

  • Sun Communities (NYSE:SUI) versus Boardwalk Real Estate Investment Trust (OTCMKTS:BOWFF) Head to Head Contrast

  • Financial Survey: NexPoint Residential Trust (NYSE:NXRT) and Boardwalk Real Estate Investment Trust (OTCMKTS:BOWFF)

  • BOARDWALK REIT PROVIDES OPERATIONAL AND CAPITAL ALLOCATION UPDATE AND ANNOUNCES TIMING OF FOURTH QUARTER RESULTS

  • BOARDWALK REIT ANNOUNCES SPECIAL NON-CASH DISTRIBUTION

  • Boardwalk Real Estate Investment Trust (OTCMKTS:BOWFF) and AvalonBay Communities (NYSE:AVB) Head to Head Analysis

  • Boardwalk REIT: Canadian Residential Real Estate At A 35% Discount

  • BOARDWALK REIT ANNOUNCES RENEWAL OF NORMAL COURSE ISSUER BID

  • Diamond Hill International Strategy Q3 2025 Portfolio Activity

  • Boardwalk Real Estate Investment Trust (BEI.UN:CA) Q3 2025 Earnings Call Transcript

  • BOARDWALK REIT REPORTS STRONG RESULTS FOR Q3 2025

  • BOARDWALK REIT PROVIDES OPERATIONAL AND CAPITAL ALLOCATION UPDATE AND ANNOUNCES TIMING OF THIRD QUARTER RESULTS