Earnings Call Summary | BOARDWALK REAL ESTATE INVESTMENT TR(BOWFF.US) Q4 2023 Earnings Conference
Earnings Call Summary | BOARDWALK REAL ESTATE INVESTMENT TR(BOWFF.US) Q4 2023 Earnings Conference
The following is a summary of the Boardwalk Real Estate Investment Trust (BOWFF) Q4 2023 Earnings Call Transcript:
以下是浮橋房地產投資信託基金（BOWFF）2023年第四季度業績電話會議記錄摘要：
Financial Performance:
財務業績：
Boardwalk Real Estate Investment Trust reported an increase in FFO per unit, net asset value, & unitholder equity compared to the same quarter of last year.
Company's profit grew quarter-over-quarter, attributed to stronger apartment rental fundamentals leading to higher fair value adjustments.
Enjoyed steady compound annual growth rate of 9.5% in FFO per unit over the last three years.
Q4 2023 same property net operating income increased 16.8% YOY, driven by a revenue growth of 9.2%.
Net margin expanded to 61% in 2023, due to disciplined expense management and robust revenue growth.
Administration costs showed a quarterly decrease but an annual increase due to inflationary wage adjustments.
The Trust is well-positioned with estimated liquidity of $527 million.
Increased estimated fair value of investment properties to $7.6 billion from previous year's $6.8 billion.
The Trust's largest market, Edmonton, registered a 10.2% revenue growth in Q4 2023.
Boardwalk房地產投資信託基金報告稱，與去年同期相比，單位FFO、淨資產價值和單位持有人權益有所增加。
該公司的利潤同比增長，這要歸因於公寓租賃基本面走強，導致公允價值調整增加。
在過去三年中，每單位FFO的複合年增長率穩定爲9.5％。
2023年第四季度同類物業的淨營業收入同比增長16.8％，這得益於9.2％的收入增長。
由於嚴格的費用管理和強勁的收入增長，淨利潤率在2023年增長至61％。
由於通貨膨脹的工資調整，管理成本呈季度下降趨勢，但每年都在增長。
該信託基金處於有利地位，估計流動性爲5.27億美元。
將投資物業的估計公允價值從去年的68億美元增加到76億美元。
該信託基金最大的市場埃德蒙頓在2023年第四季度實現了10.2％的收入增長。
Business Progress:
業務進展：
Key trophy locations such as Victoria developments and the 45 Rail contributed significantly to the company's success.
Partnership with RioCan led to creation of Brio community near University of Calgary Foothills Hospital.
Actively converting administrative and storage spaces into additional housing units.
Focus on expanding into countercyclical trophy locations.
Actively exploring office conversions, although dependent on government support.
Maintained commitment to affordable housing in Alberta and Saskatchewan markets.
Secured $46.5 million CMHC financing for the acquisition of The Vue in Victoria.
The forecasted payout ratio for 2024 remains the same as in previous year.
Announced a substantial 23% increase in monthly cash distribution and double-digit Net Operating Income (NOI) growth.
Anticipation of 2024 same property NOI growth to be between 10% and 14% and FFO to range from $3.93 to $4.18 per trust unit.
Conversion of storage spaces added 23 more units in 2023.
Invested $70 million to acquire The Circle, a 295-unit community in Calgary.
Development of a 234-unit construction, Aspire, in Victoria is in progress.
Strategy includes strategic acquisitions and new developments in undersupplied housing markets with a continued focus on maintaining a low payout ratio and optimizing capital deployment for growth.
維多利亞開發項目和45號鐵路等關鍵獎盃地段爲公司的成功做出了重大貢獻。
與RioCan的合作促成了在卡爾加里大學山麓醫院附近建立的Brio社區。
積極將行政和存儲空間改造成額外的住房單元。
專注於向反週期獎盃地擴張。
積極探索辦公室轉型，但要依賴政府的支持。
維持對艾伯塔省和薩斯喀徹溫省市場經濟適用住房的承諾。
獲得加拿大抵押和住房公司4,650萬美元的融資，用於收購維多利亞州的The Vue。
2024年的預測派息率與去年相同。
宣佈每月現金分配大幅增長23％，淨營業收入（NOI）增長兩位數。
預計2024年同期房地產淨收益將增長10％至14％之間，每個信託單位的FFO將在3.93美元至4.18美元之間。
2023 年，存儲空間的轉換增加了23個單位。
投資7000萬美元收購了位於卡爾加里的295個單元的社區The Circle。
維多利亞州一座名爲Aspire的234個單元的建築正在開發中。
戰略包括戰略收購和住房供應不足市場的新發展，繼續側重於維持低派息率和優化資本部署以實現增長。
More details: BOARDWALK REAL ESTATE INVESTMENT TR IR
更多詳情： BOARDWALK 房地產投資 TR IR
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
提示：欲了解更多詳情，請訪問投資者關係網站。本文僅供投資者參考，不構成任何投資建議。
譯文內容由第三人軟體翻譯。