By Adriano Marchese
Boardwalk Real Estate Investment Trust said it continues to scale back its real-estate footprint to fund its share repurchase program.
The Canadian REIT said Monday that it has sold off 306 million Canadian dollars ($215.5 million) of apartment properties so far this year as it looks to capitalize on a gap between private property values and the trading price of its shares.
During that same period, the company reinvested C$176.6 million into its share repurchase program, it said.
Meanwhile, the company has seem occupancy rates slip since last year, reaching 96.9% in July, down from a high of 98% in May 2025. Rent for the occupants, however, has edged up to C$1,607 between April and May of this year, compared with C$1,554 in the second quarter of last year.
Boardwalk said that the outlook for its largest market in Alberta continues to strengthen as the province's booming economy is helping to drive growth and affordability.
Write to Adriano Marchese at adriano.marchese@wsj.com