Boardwalk REIT ("Boardwalk, "the Trust", "We") is providing a brief update highlighting its strong portfolio occupancy, increasing occupied rents, and normal course issuer bid activity that is available to date as we continue to focus on our essential service of providing high-quality and affordable homes to Boardwalk's Resident Members while delivering growth and value for our stakeholders.
Stabilized Portfolio Occupancy
Jan-21 | Feb-21 | Mar-21 | Apr-21 | May-21 | Jun-21 | |
Stabilized Portfolio | 94.8% | 94.7% | 95.0% | 95.7% | 96.0% | 96.0% |
Jul-21 | Aug-21 | Sep-21 | Oct-21 | Nov-21 | Dec-21 | |
96.0% | 96.1% | 96.2% | 96.1% | 95.7% | 95.8% | |
Jan-22 | ||||||
95.7% |
1 Preliminary occupancy as of the first day of each month |
Occupied Rent
Jan-21 | Feb-21 | Mar-21 | Apr-21 | May-21 | Jun-21 | |
Occupied Rent 2 | ||||||
Jul-21 | Aug-21 | Sep-21 | Oct-21 | Nov-21 | ||
2 Occupied rent is a component of rental revenue as calculated in accordance with IFRS and represents stabilized properties only. It is calculated for occupied units as of the first day of each month as the average rental revenue, adjusted for other rental revenue items such as fees, specific recoveries and revenue from commercial tenants. |
Normal Course Issuer Bid Activity
Trust Units Repurchased | Average Price | ||||
Total 2021 3 | 438,400 | $ | 54.84 | $ | 24,050,000 |
3 TSX approval of Normal Course Issuer Bid on |
"As we near the reporting of our year-end results, we are pleased to start 2022 with strong Resident Member retention rates, high occupancy and increasing average occupied rents on a foundation of some of the most affordable rents in Canada. We are well positioned to continue on our track record of funds from operations (FFO) growth into 2022 and beyond. We look forward to sharing our fiscal 2021 financial results along with our financial guidance for 2022 on
Timing of Boardwalk REIT's Fourth Quarter Financial Results
Boardwalk REIT's financial results for the three- and twelve-month periods ended
We invite you to participate in the teleconference to be held to discuss these results the following morning (
Teleconference:
The telephone numbers for the conference are toll-free 1-888-664-6383 (within
Note: Please provide the operator with the below Conference Call ID or Topic when dialing in to the call.
Conference ID: 59564101
Topic:
Webcast:
Investors will also be able to listen to the call and view the slide presentation by visiting www.bwalk.com/investors on the morning of the call. An information page will be provided for any software and system requirements. The live webcast will also be available by clicking below:
Boardwalk REIT Fourth Quarter Results Webcast Link
Corporate Profile:
Boardwalk REIT strives to provide
Boardwalk REIT's Trust Units are listed on the
NON-GAAP Financial Measures
Boardwalk believes non-GAAP financial measures are meaningful and useful measures of real estate organizations operating performance, however, are not measures defined by IFRS. As they do not have standardized meanings prescribed by IFRS, they therefore may not be comparable to similar measurements presented by other entities and should not be construed as an alternative to IFRS defined measures. The IFRS measurement most comparable to FFO is profit (loss). We define FFO as income before fair value adjustments, distributions on the LP Class
CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS
Information in this news release that is not current or historical factual information may constitute forward-looking statements and information (collectively, "forward-looking statements") within the meaning applicable of securities laws. The use of any of the words "expect", "anticipate", "may", "will", "should", "believe", "intend" and similar expressions are intended to identify forward-looking statements. Implicit in these forward-looking statements, particularly in respect of Boardwalk's objectives for its current and future periods, Boardwalk's strategies to achieve those objectives, as well as statements with respect to management's beliefs, plans, estimates, assumptions, intentions, and similar statements concerning anticipated future events, results, circumstances, performance or expectations are estimates and assumptions subject to risks and uncertainties which could cause Boardwalk's actual results to differ materially from the forward-looking statements contained in this news release. Specifically, Boardwalk has made assumptions surrounding the impact of economic conditions in
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