Boardwalk Real Estate Investment Trust
Boardwalk Real Estate Investment Trust is an unincorporated, open-ended real estate investment trust, created pursuant to the declaration of trust dated January 9, 2004, amended and updated on various dates between May 3, 2004, and May 6, 2024. Boardwalk REIT was created for the purpose of providing affordable multi-family homes where love reigns, by investing in multi-family residential building… Read more
Boardwalk Real Estate Investment Trust (BOWFF) - Net Assets
Latest net assets as of September 2025: $5.02 Billion USD
Based on the latest financial reports, Boardwalk Real Estate Investment Trust (BOWFF) has net assets worth $5.02 Billion USD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($9.07 Billion) and total liabilities ($4.05 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $5.02 Billion |
| % of Total Assets | 55.37% |
| Annual Growth Rate | 23.75% |
| 5-Year Change | 68.15% |
| 10-Year Change | 50.64% |
| Growth Volatility | 186.8 |
Boardwalk Real Estate Investment Trust - Net Assets Trend (1994–2024)
This chart illustrates how Boardwalk Real Estate Investment Trust's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Boardwalk Real Estate Investment Trust (1994–2024)
The table below shows the annual net assets of Boardwalk Real Estate Investment Trust from 1994 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $4.84 Billion | +11.96% |
| 2023-12-31 | $4.32 Billion | +24.61% |
| 2022-12-31 | $3.47 Billion | +6.57% |
| 2021-12-31 | $3.25 Billion | +13.10% |
| 2020-12-31 | $2.88 Billion | -7.75% |
| 2019-12-31 | $3.12 Billion | -0.28% |
| 2018-12-31 | $3.13 Billion | +5.01% |
| 2017-12-31 | $2.98 Billion | -1.45% |
| 2016-12-31 | $3.02 Billion | -5.90% |
| 2015-12-31 | $3.21 Billion | -4.39% |
| 2014-12-31 | $3.36 Billion | +1.77% |
| 2013-12-31 | $3.30 Billion | +8.18% |
| 2012-12-31 | $3.05 Billion | +24.76% |
| 2011-12-31 | $2.44 Billion | +2342.60% |
| 2010-12-31 | $-109.02 Million | -142.04% |
| 2009-12-31 | $-45.04 Million | -630.32% |
| 2008-12-31 | $8.49 Million | -99.57% |
| 2007-12-31 | $1.98 Billion | +519.96% |
| 2006-12-31 | $318.87 Million | -81.92% |
| 2005-12-31 | $1.76 Billion | +349.60% |
| 2004-12-31 | $392.21 Million | -4.99% |
| 2003-12-31 | $412.80 Million | +4.05% |
| 2002-12-31 | $396.71 Million | +6.16% |
| 2001-12-31 | $373.68 Million | -6.81% |
| 2000-12-31 | $400.99 Million | +3.21% |
| 1999-12-31 | $388.50 Million | +63.79% |
| 1998-12-31 | $237.20 Million | -16.54% |
| 1997-12-31 | $284.20 Million | +222.59% |
| 1996-12-31 | $88.10 Million | +351.79% |
| 1995-12-31 | $19.50 Million | +140.74% |
| 1994-12-31 | $8.10 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Boardwalk Real Estate Investment Trust's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 1094715.2% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $4.38 Billion | 90.54% |
| Common Stock | $457.55 Million | 9.46% |
| Total Equity | $4.84 Billion | 100.00% |
Boardwalk Real Estate Investment Trust Competitors by Market Cap
The table below lists competitors of Boardwalk Real Estate Investment Trust ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
H&R Real Estate Investment Trust
PINK:HRUFF
|
$1.81 Billion |
|
Anxin Trust Co Ltd
SHG:600816
|
$1.81 Billion |
|
Metallurgical Corporation of China Ltd
F:6MT
|
$1.81 Billion |
|
LTC Properties Inc
NYSE:LTC
|
$1.81 Billion |
|
Agilysys Inc
NASDAQ:AGYS
|
$1.81 Billion |
|
Giantec Semiconductor Corp
SHG:688123
|
$1.81 Billion |
|
DMG Mori Co. Ltd
F:0MO
|
$1.81 Billion |
|
Nantong Jianghai Capacitor Co Ltd
SHE:002484
|
$1.81 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Boardwalk Real Estate Investment Trust's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 4,320,072,000 to 4,836,809,000, a change of 516,737,000 (12.0%).
- Net income of 588,218,000 contributed positively to equity growth.
- Dividend payments of 73,732,000 reduced retained earnings.
- Share repurchases of 10,127,000 reduced equity.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $588.22 Million | +12.16% |
| Dividends Paid | $73.73 Million | -1.52% |
| Share Repurchases | $10.13 Million | -0.21% |
| Other Changes | $12.38 Million | +0.26% |
| Total Change | $- | 11.96% |
Book Value vs Market Value Analysis
This analysis compares Boardwalk Real Estate Investment Trust's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.50x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 110.91x to 0.50x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1994-12-31 | $0.41 | $44.92 | x |
| 1995-12-31 | $0.68 | $44.92 | x |
| 1996-12-31 | $3.06 | $44.92 | x |
| 1997-12-31 | $5.43 | $44.92 | x |
| 1998-12-31 | $5.13 | $44.92 | x |
| 1999-12-31 | $5.80 | $44.92 | x |
| 2000-12-31 | $6.07 | $44.92 | x |
| 2001-12-31 | $5.68 | $44.92 | x |
| 2002-12-31 | $6.00 | $44.92 | x |
| 2003-12-31 | $5.97 | $44.92 | x |
| 2004-12-31 | $6.74 | $44.92 | x |
| 2005-12-31 | $5.56 | $44.92 | x |
| 2006-12-31 | $5.74 | $44.92 | x |
| 2007-12-31 | $2.53 | $44.92 | x |
| 2008-12-31 | $0.16 | $44.92 | x |
| 2009-12-31 | $-0.85 | $44.92 | x |
| 2010-12-31 | $-2.07 | $44.92 | x |
| 2011-12-31 | $46.78 | $44.92 | x |
| 2012-12-31 | $63.78 | $44.92 | x |
| 2013-12-31 | $63.02 | $44.92 | x |
| 2014-12-31 | $70.29 | $44.92 | x |
| 2015-12-31 | $61.85 | $44.92 | x |
| 2016-12-31 | $65.19 | $44.92 | x |
| 2017-12-31 | $58.65 | $44.92 | x |
| 2018-12-31 | $61.54 | $44.92 | x |
| 2019-12-31 | $67.17 | $44.92 | x |
| 2020-12-31 | $56.39 | $44.92 | x |
| 2021-12-31 | $69.91 | $44.92 | x |
| 2022-12-31 | $68.85 | $44.92 | x |
| 2023-12-31 | $94.27 | $44.92 | x |
| 2024-12-31 | $89.60 | $44.92 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Boardwalk Real Estate Investment Trust utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 12.16%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 97.50%
- • Asset Turnover: 0.07x
- • Equity Multiplier: 1.78x
- Recent ROE (12.16%) is below the historical average (22.05%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1994 | 4.94% | 5.00% | 0.07x | 14.70x | $-410.00K |
| 1995 | 7.38% | 3.35% | 0.29x | 7.66x | $-390.00K |
| 1996 | 2.61% | 4.50% | 0.12x | 4.91x | $-6.51 Million |
| 1997 | 3.68% | 7.39% | 0.12x | 4.28x | $-13.73 Million |
| 1998 | 6.24% | 7.96% | 0.16x | 4.84x | $-8.92 Million |
| 1999 | 3.64% | 4.77% | 0.16x | 4.89x | $-18.18 Million |
| 2000 | 5.16% | 10.58% | 0.10x | 4.79x | $-14.57 Million |
| 2001 | -4.49% | -5.63% | 0.15x | 5.23x | $-41.30 Million |
| 2002 | 3.84% | 4.64% | 0.15x | 5.66x | $-18.60 Million |
| 2003 | 2.51% | 2.86% | 0.15x | 5.85x | $-23.10 Million |
| 2004 | 1.34% | 1.69% | 0.16x | 5.09x | $-30.77 Million |
| 2005 | 1.70% | 1.69% | 0.16x | 6.37x | $-24.54 Million |
| 2006 | 7.96% | 7.95% | 0.17x | 6.00x | $-6.50 Million |
| 2007 | -41.68% | -15.82% | 0.17x | 15.43x | $-73.56 Million |
| 2008 | 537.91% | 10.78% | 0.18x | 277.75x | $44.84 Million |
| 2009 | 0.00% | 14.51% | 0.18x | 0.00x | $66.57 Million |
| 2010 | 0.00% | 17.24% | 0.18x | 0.00x | $82.63 Million |
| 2011 | 50.11% | 289.81% | 0.08x | 2.08x | $980.61 Million |
| 2012 | 22.57% | 156.52% | 0.08x | 1.86x | $383.50 Million |
| 2013 | 9.87% | 70.46% | 0.08x | 1.80x | $-4.39 Million |
| 2014 | 7.35% | 52.15% | 0.08x | 1.78x | $-89.01 Million |
| 2015 | 0.90% | 6.06% | 0.08x | 1.82x | $-292.23 Million |
| 2016 | -1.90% | -13.09% | 0.08x | 1.91x | $-359.57 Million |
| 2017 | 1.92% | 13.54% | 0.07x | 1.97x | $-240.50 Million |
| 2018 | 6.18% | 44.45% | 0.07x | 1.95x | $-119.47 Million |
| 2019 | 1.12% | 7.64% | 0.07x | 2.01x | $-277.02 Million |
| 2020 | -6.86% | -42.37% | 0.08x | 2.12x | $-484.92 Million |
| 2021 | 13.72% | 94.84% | 0.07x | 2.05x | $120.95 Million |
| 2022 | 8.17% | 57.21% | 0.07x | 2.04x | $-63.60 Million |
| 2023 | 15.42% | 122.07% | 0.07x | 1.88x | $234.09 Million |
| 2024 | 12.16% | 97.50% | 0.07x | 1.78x | $104.54 Million |
Industry Comparison
This section compares Boardwalk Real Estate Investment Trust's net assets metrics with peer companies in the REIT - Residential industry.
Industry Context
- Industry: REIT - Residential
- Average net assets among peers: $1,740,722,889
- Average return on equity (ROE) among peers: -0.22%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Boardwalk Real Estate Investment Trust (BOWFF) | $5.02 Billion | 4.94% | 0.81x | $1.81 Billion |
| Apartment Investment and Management Co (AIV) | $1.90 Billion | 3.39% | 1.24x | $560.76 Million |
| American Homes 4 Rent (AMH) | $3.47 Million | -1.21% | 0.01x | $9.13 Billion |
| Altarea SCA (ATRRF) | $807.10 Million | -58.59% | 3.65x | $599.60 Million |
| AvalonBay Communities Inc (AVB) | $10.99 Billion | 7.15% | 0.74x | $22.59 Billion |
| Bluerock Homes Trust Inc. (BHM) | $461.97 Million | 7.43% | 0.17x | $26.77 Million |
| BRT Realty Trust (BRT) | $132.06 Million | 9.09% | 0.50x | $165.50 Million |
| BSR Real Estate Investment Trust (BSRTF) | $975.75 Million | 23.29% | 1.11x | $404.42 Million |
| Canadian Apartment Properties REIT (CDPYF) | $204.11 Million | 8.76% | 1.59x | $4.34 Billion |
| Clipper Realty Inc (CLPR) | $185.59 Million | -1.27% | 4.67x | $39.85 Million |