TORONTO (Reuters) - Boardwalk Real Estate Investment Trust
The REIT reported FFO of C$27.7 million ($27.7 million), or 50 Canadian cents per diluted unit, for the three months ended March 31, compared with C$22.8 million, or 40 Canadian cents per diluted unit, in the year-earlier period.
The Calgary, Alberta-based trust said its net operating income for the quarter was C$60.5 million, up 18 percent from C$51 million in the same period last year. It gave no quarterly per-share figures.
The average monthly rent in the trust's portfolio was C$931 per suite, up from C$842 per suite in the year-before period. Rental revenues rose 16.7 percent to C$102.2 million.
Boardwalk reiterated its 2008 forecast for FFO of C$2.35 to C$2.50 per unit.
The REIT declared a February distribution of 15 Canadian cents, payable on June 16, to unitholders of record on May 30.
Units of Boardwalk were up 26 Canadian cents, or 0.6 percent, at C$41.66 on the Toronto Stock Exchange on Wednesday morning.
($1=$1.00 Canadian)
(Reporting by John McCrank; Editing by Peter Galloway)
© Reuters Limited. All Rights Reserved.
Reproduction or redistribution of Reuters content, including framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.
