Thursday, February 26, 2015
11:09 PM| Comment!
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4:55 PM| Comment!
- Q4 core income of $3.3M or $0.28 per share vs. $4.7M and $0.39 in Q3. The monthly dividend was just cut to $0.12.
- Book value per share of $11.65 down from $12.85 in Q3. Today's close of $9.18 is a 21.2% discount to book.
- Net interest margin of 1.53% down nine basis points from Q3. CPR on agency paper of 5.17% down from 6.56%.
- Leverage of 8.13:1 vs. 7.07:1 at end of Q3.
- Conference call tomorrow at 8:30 ET.
- Previously: Javelin Mortgage Investment reports Q4 results (Feb. 26)
- Source: Press Release
- JMI -0.2% after hours
- Previously: Javelin Mortgage updates on portfolio (Jan. 27)
- Q4 net income of $26.9M or $0.71 per share vs. $22.7M and $0.60 one year ago. Adjusted EBITDA of $43.6M vs. $41.3M a year ago.
- Debt placement production volume of $12.17M and 384 deals vs. $8.13M and 308 deals a year ago. Investment sales volume of $9.6M and 174 deals vs. $12.1M and 177 deals. Equity placement volume of $964.7M and 31 deals vs. $610.7M and 28 deals.
- Total transaction volume of $22.8M vs. $21.1M a year ago.
- Loan servicing portfolio balance of $39.3B vs. $33.1B a year ago.
- Earnings call at 6 ET
- Previously: HFF misses by $0.02, misses on revenue (Feb. 26)
- HF flat after hours
- The two lease extensions are with Direct Energy and Cox Radio.
- Direct Energy is Cousins' (NYSE:CUZ) 6th-largest customer and occupies 228K square feet at Greenway Plaza. 173.8K of that was set to expire in May 2017, and the rest in January 2019. The extension cuts the footprint to 191.9K square feet and extends the maturity to May 2023.
- Cox has been at Post Oak Central since 2000, occupying 23.8K square feet. The extension maintains that square footage and extends from September 2015 to March 2021.
- Source: Press Release
- Q4 core FFO of $7.5M or $0.32 per share vs. $6.2M and $0.28 one year ago. Full-year core FFO of $28.2M or $1.20 per share vs. $20.8M and $1.10 in 2013.
- Total occupancy of 86.8% up 100 basis points Y/Y.
- 75 leases totaling 183K square feet inked during quarter. Total lease value of $12M up 12% from a year ago. For all 2014, total lease value of $53.4M up 21% from 2013.
- 2015 guidance: Core FFO per share of $1.25-$1.30 vs. $1.20 in 2014.
- Conference call tomorrow at 11 ET
- Previously: Whitestone REIT beats by $0.04, misses on revenue (Feb. 26)
- WSR flat after hours
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