Boardwalk Real Estate Investment Trust Q1 FFO $1.15 Up 8.5%, Raises 2026 Guidance
Boardwalk Real Estate Investment Trust posted Q1 2026 FFO of $1.15 per unit (up 8.5% YoY), same-property NOI of C$101.4 million (up 6.8%) and 97.3% occupancy. The Trust raised 2026 FFO guidance to C$4.60–4.80 per unit, boosted its C$400–500 million asset-sale target and declared a $0.0157 Q1 distribution.
1. Q1 Financial Performance
Boardwalk Real Estate Investment Trust recorded funds from operations of $1.15 per unit, up 8.5% year-over-year, net operating income of C$106.2 million (up 10.0%), same-property NOI of C$101.4 million (up 6.8%), an operating margin of 64.8% and portfolio occupancy of 97.3%.
2. Guidance Revision and Capital Allocation
The Trust raised its full-year 2026 FFO guidance to C$4.60–4.80 per unit and increased its asset-sale target to C$400–500 million. It completed sales of 1,552 non-core suites for C$306 million gross proceeds and repurchased 1,551,400 units at a weighted average price of $65.92.
3. Distribution Details
Boardwalk confirmed a $0.0157 per unit distribution for the quarter ended March 31, payable June 1, and maintained its regular annualized distribution of $1.80 per unit for June through August 2026.