Boardwalk Real Estate: Q1 Earnings Snapshot by The Associated Press Last Updated May 13, 2021 at 7:27 pm EDT CALGARY, Alberta (AP) _ Boardwalk Real Estate Investment Trust (BOWFF) on Thursday reported a key measure of profitability in its first quarter. The Calgary, Alberta-based real estate investment trust said it had funds from operations of $26.2 million, or 51 cents per share, in the period. Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization. The company said it had net income of $22.9 million, or 49 cents per share. The real estate investment trust that owns residential communities, based in Calgary, Alberta, posted revenue of $91.4 million in the period.