- Boardwalk Real Estate Investment Trust (TSX:BEI.UN) lost nearly 3 per cent in the last couple of days, but its stock is up 6.2 per cent on the month
- RioCan Real Estate Investment Trust (TSX:REI.UN) lost more than 5 per cent since the week began, it is up 1.5 per cent in the past month
- Calgary-based Boardwalk’s funds from operations in Q3 2023 were C$48.3 million, compared to C$42.7 in September 2022
- RioCan recently reported its Q3 2023 financials and noted that funds from operations were C$135.4 million, compared to C$134.8 million in Q2 2022
- Boardwalk REIT last traded at C$67.28 per share and RioCan REIT last traded at C$17.39 per share
Two real estate stocks have been fluctuating as of late, but their overall performance tells a more positive story.
While Boardwalk Real Estate Investment Trust (TSX:BEI.UN) lost nearly 3 per cent in the last couple of days, its stock is up 6.2 per cent on the month. Similarly, RioCan Real Estate Investment Trust (TSX:REI.UN) lost more than 5 per cent since the week began, it is up 1.5 per cent in the past month.
Calgary-based Boardwalk reported a profit of C$39.4 million in Q3 2023 and $493.0 million for the nine months ending in September. Its preliminary occupancy in November is 98.9 per cent, an increase of 100 basis points from last November. Its average monthly rent was $1,340 in September, an increase from $1,223 in September 2022. Funds from operations for the quarter were C$48.3 million, compared to C$42.7 in September 2022.
RioCan recently reported its Q3 2023 financials and noted that funds from operations were C$135.4 million, compared to C$134.8 million in Q2 2022.
Boardwalk REIT is an open-ended real estate investment trust, which owns and operates multi-family rental communities. It provides homes in more than 200 communities, with more than 33,000 residential suites.
RioCan REIT owns, develops, and operates a portfolio of retail-focused and increasingly mixed-use properties. Its portfolio includes leasing, development, and residential. Most of its properties are composed of necessity-based tenants, such as grocery, pharmacy, liquor, personal services, and specialty and value retailers.
Boardwalk REIT last traded at C$67.28 per share and RioCan REIT last traded at C$17.39 per share.
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