Overview

* Boardwalk REIT Q2 FFO per unit rises 11.5% yr/yr

* Company revises 2025 financial guidance, indicating confidence in growth

Outlook

* Boardwalk REIT revises 2025 FFO guidance to C$4.48-C$4.63 per unit

* Company updates same property NOI growth to 8.0%-10.0% for 202

Result Drivers

* AFFORDABILITY - Boardwalk attributes strong rental demand to affordability in Edmonton, its largest market

* RENTAL REVENUE - Same property rental revenue growth driven by higher in-place occupied rents and reduced incentives

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 C$157.30

Rental mln

Revenue

Q2 FFO C$61.90

mln

Q2 C$104.20

Operatin mln

g Income

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the residential reits peer group is "buy"

* Wall Street's median 12-month price target for Boardwalk Real Estate Investment Trust is C$82.50, about 13.7% above its July 28 closing price of C$71.19

* The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 16 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)