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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

業績電話會議摘要 | BOARDWALK 房地產投資 TR (BOWFF.US) 2023 年第四季度業績發佈會
富途資訊 ·  02/24 04:52  · 電話會議

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。

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。


以上內容僅用作資訊或教育之目的,不構成與富途相關的任何投資建議。富途竭力但無法保證上述全部內容的真實性、準確性和原創性。
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