Boardwalk Real Estate Investment Trust (OTCPK: BOWFF) Q4 2024 Earnings Conference Call
On February 21, 2025, at 1:00 PM ET, Boardwalk Real Estate Investment Trust (BOWFF) held its Fourth Quarter 2024 Earnings Conference Call. The participants from the company included Eric Bowers, VP of Finance and Investor Relations, Sam Kolias, CEO, James Ha, President, Gregg Tinling, CFO, Samantha Kolias-Gunn, SVP of Corporate Development and Governance, and Samantha Adams, SVP of Investments. The conference call was moderated by an operator, and several analysts participated, including Frank Liu from BMO Capital Markets, Jonathan Kelcher from TD Cowen, Brad Sturges from Raymond James, Kyle Stanley from Desjardins, Jamie Shan from RBC Capital Markets, and Matt Kornack from National Bank Financial.
Company Highlights
During the call, the executives discussed the company’s performance in the fourth quarter of 2024. BOWFF reported a FFO (Funds From Operations) of $0.51 per share, which was higher than the consensus estimate of $0.49 per share. The company’s revenue for the quarter was $149.3 million, up 3.7% from the same quarter in the previous year. The increase in revenue was primarily due to the acquisition of new properties and the growth of existing properties.
Financial Performance
The company’s net income for the quarter was $32.3 million, up from $28.9 million in the same quarter of the previous year. The increase in net income was due to the higher revenue and lower interest and financing expenses. The company’s balance sheet remained strong, with total assets of $5.1 billion and total equity of $3.3 billion.
Future Plans
The executives also discussed the company’s future plans, including the acquisition of new properties and the development of new projects. They mentioned that the company was looking at several potential acquisitions and was in the due diligence process for some of them. They also mentioned that they were planning to develop new projects in markets where they already had a presence, such as Atlantic Canada and Ontario.
Impact on Individual Investors
The strong financial performance of BOWFF in the fourth quarter of 2024 is a positive sign for individual investors. The company’s FFO and revenue growth, along with its strong balance sheet, indicate that the company is in a good position to continue generating strong returns for its shareholders. Additionally, the company’s plans to acquire new properties and develop new projects suggest that there is potential for further growth.
Impact on the World
The strong financial performance of REITs like BOWFF is an important indicator of the health of the commercial real estate market. A strong REIT sector can contribute to economic growth by providing stable returns for investors and creating jobs through the development and management of commercial properties. Additionally, the acquisition and development plans of BOWFF and other REITs can lead to increased investment in commercial real estate, which can help to stimulate economic activity.
Conclusion
In conclusion, the Boardwalk Real Estate Investment Trust’s Fourth Quarter 2024 Earnings Conference Call provided investors with positive news, as the company reported strong financial performance and outlined plans for future growth. The impact of this news on individual investors is the potential for continued strong returns, and the impact on the world is the contribution to economic growth through the health of the commercial real estate market.
- BOWFF reported a FFO of $0.51 per share, higher than the consensus estimate
- Revenue for the quarter was $149.3 million, up 3.7% from the previous year
- Net income for the quarter was $32.3 million, up from $28.9 million in the same quarter of the previous year
- Company is looking at several potential acquisitions and planning to develop new projects
- Strong financial performance and future plans indicate potential for continued growth for shareholders
- Contributes to economic growth through the health of the commercial real estate market
