Fortress Investment Group LLCNYSE
Fortress: Money Manager Trading At 6.5x Fee-Based Earnings And 7% Dividend Yield
Thomas Lott • 37 Comments
Thomas Lott • 37 Comments
Fortress Investment Group Has Put In A Bottom
Alpha Gen Capital • 22 Comments
Alpha Gen Capital • 22 Comments
Thu, Nov. 3, 7:50 AM
Thu, Nov. 3, 7:43 AM
Wed, Nov. 2, 5:30 PM
- AAC, AAON, AAWW, ACIW, ACRE, ACTA, AFSI, AGIO, AGU, AKRX, AMAG, AMCX, AMRN, ANIP, ANSS, APA, ARCB, ARW, AVP, BCE, BDX, BLL, CCC, CCOI, CHD, CHK, CHTR, CI, CLDT, CNSL, COMM, CPK, CRIS, CRZO, CYBR, DDD, DNR, DW, ECA, EFOI, ENB, ENOC, EVA, FCPT, FI, FIG, FMSA, GEL, GEO, GIL, GLOG, GOGO, H, HAR, HFC, HHS, HII, HMHC, HRC, HSC, IBP, ICPT, INSY, IPCC, IQNT, IRWD, IT, KOP, LAMR, LBY, LDOS, LFUS, LINC, LNG, LXP, MFA, MGA, MITK, MITL, MPEL, MPG, MPW, MSGN, NERV, NGS, NNN, NXTM, OGE, ONCE, ONDK, PBH, PDCE, PGTI, PNW, PRFT, PWR, RDUS, RFP, RGEN, ROLL, RWLK, SFM, SGM, SHLX, SMG, SNSS, SPAR, SPGI, SQBG, STFC, STOR, TDY, TGI, THS, TICC, TIME, TK, TNK, TOO, TVPT, TWI, TX, UNT, USCR, VGR, VWR, WILN, WPC, WRLD, ZEUS
Thu, Oct. 13, 2:07 PM
- Fortress Investment Group (NYSE:FIG) took the coastal freight operator private in a $3.5B deal in 2007, and has hired Barclays and Morgan Stanley to explore options, write Ed Hammond and Kiel Porter at Bloomberg.
- Fortress later spun off the railway operations into a separate company, leaving the real estate, logistics, and telecom assets under the original parent umbrella.
- The news has sent FIG shooting 3.5% higher in the past few minutes.
Tue, Sep. 27, 11:12 AM
- "For any professional investor, this is the most difficult period we’ve ever experienced,” says Joe Baratta, Blackstone's (NYSE:BX) global head of private equity. “You have historically high multiples of cash flows, low yields. I’ve never seen it in my career. It’s the most treacherous moment.”
- For private-equity players, lofty valuations make it a great time to cash in on investments, but a not-so-great time to redeploy capital into new deals. Not finding a lot of value in large LBOs, Baratta says Blackstone is targeting smaller companies with lower leverage.
- Source: Bloomberg's Devin Banerjee
- Other interested parties: Carlyle Group (NASDAQ:CG), Apollo Global (NYSE:APO), KKR, Fortress Investment (NYSE:FIG)
Thu, Jul. 28, 8:30 AM
- Q2 pretax distributable earnings of $101M or $0.26 per share vs. $137M and $0.30 one year ago.
- Management fee paying AUM of $70.2B down 2% Y/Y, with P-E and permanent capital AUM of $13.3B down from $16.5B.
- Private-equity fund valuations rose 7.9% for the quarter, bringing gross embedded incentive income (not yet recognized in DE) to $1.2B.
- CC at 10 ET
- Previously: Fortress Investment beats by $0.08, misses on revenue (July 28)
- FIG flat premarket
Thu, Jul. 28, 7:45 AM
Thu, Jul. 28, 7:44 AM
Wed, Jul. 27, 5:30 PM
- AB, ABMD, ACIW, ACOR, ADP, AEP, ALKS, ALLE, ALXN, AMT, APD, ARIA, AZN, BC, BCC, BCO, BCOR, BEN, BG, BGCP, BHI, BMS, BMY, BSX, BWA, BWEN, BZH, CAB, CBG, CBM, CELG, CFX, CIT, CL, CLF, CLFD, CME, CMS, COMM, COP, COR, CRR, CRS, CS, CSH, CVI, CVRR, CWT, DBD, DFT, DLX, DOW, DSX, EME, EPD, EQM, EQT, EXLS, F, FCFS, FCN, FI, FIG, FITB, FLY, FSS, GLOP, GNC, GOV, GPI, GPN, GRUB, GTLS, HCA, HEES, HOG, HP, HSY, HTH, IART, IDA, IGT, INCR, INGR, IP, IPGP, IRDM, ITC, ITG, IVC, IVZ, KEM, LAD, LAZ, LDOS, LEA, LKQ, LLL, LPG, MA, MCS, MD, MDP, MDWD, MINI, MITK, MJN, MKTX, MMC, MNRO, MPC, MPLX, MSCI, MTH, MTRN, MVIS, NAP, NEWM, NICE, NMR, NOV, NTCT, NYT, OAK, ODFL, ORI, OSK, PAG, PCG, PES, PF, PJC, PNR, POT, PRLB, PTEN, PX, RDN, RDS.A, RPM, RTN, SCG, SEE, SERV, SFE, SPB, SPGI, SQBG, SQNS, STNG, SXC, SXCP, TCK, TFX, TGI, THRM, TKR, TMO, TPX, TREE, TRI, TZOO, UAN, UBSI, UTHR, VC, VGR, VIVO, VNTV, WCC, WILN, WRLD, WST, WWE, YNDX, ZBH
Thu, Jul. 14, 10:24 AM
Mon, Jul. 11, 9:41 AM
Fri, Jun. 24, 3:13 PM
- With London's status as a financial hub, Brexit raises questions over just how firms - including U.S. asset managers - will do business on the Continent from the City (such as selling financial products) under the new regime.
- The good news, says Citi's William Katz, is the poor performance of most of the sector means investors may have already priced in falling NAVs and AUM.
- The worst of the fallout, says Katz, will hit those managers with the largest presence in the U.K., including Invesco (IVZ -13%) and Affiliated Mangers Group (AMG -10.8%). Again, the recent struggles for both these stocks means the blow could be softer than feared.
- While the whole affair could make for good buying opportunities for private-equity funds, that doesn't mean the stock prices of players like Carlyle Group (CG -2.8%), Blackstone (BX -5%), KKR (KKR -6%), Fortress (FIG -3.9%), and Oaktree (OAK -1.7%) couldn't come under a great deal of pressure in the short term.
Thu, May 26, 8:51 AM
- The $2.9T industry could lose about 25% of its assets in the next year thanks to continuing underperformance, says Blackstone (NYSE:BX) President Tony James.
- For its part, Blackstone is the world's largest allocator to hedge funds, provides startup money to managers, and takes equity stakes in hedge funds. While performance is a concern within Blackstone, James says results in its hedge fund businesses are topping the industry average.
- Hedge fund underperformance is likely the result of the sustained bull market, says James, as many hedged funds are just that ... hedged.
- As for '2 and 20,' it's "hard to justify these days," he says.
- Interested parties include: OZM, CG, FIG
Thu, May 5, 11:59 AM
- Alongside Q1 results, the company boosted its quarterly dividend by a penny to $0.09 per share and declared a special cash dividend of $0.11 per share.
- Fee-paying AUM of $70.6B flat Q/Q, up 1% Y/Y.
- Pr-tax distributable earnings of $64M or $0.16 per share vs. $55M and $0.12 one year ago.
- Total "dry powder" of $7.3B, including $4.4B for general investment purposes.
- Management fees of $141M vs. $139M a year ago. Incentive income of $64M vs. $51M, with credit P/E funds offsetting credit hedge funds.
- Previously: Fortress Investment EPS of -$0.04 (May 5)
- FIG +5.75%
Thu, May 5, 7:25 AM
- Fortress Investment (NYSE:FIG) declares $0.09/share quarterly dividend, 12.5% increase from prior dividend of $0.08.
- Forward yield 7.53%
- Payable May 20; for shareholders of record May 17; ex-div May 13.
- Additionally, the board declares special dividend of $0.11/share payable along with quarterly dividend.
Thu, May 5, 7:11 AM
- Fortress Investment (NYSE:FIG): Q1 EPS of -$0.04 may not be comparable to consensus of $0.14.
- Revenue of $231.62M (+2.2% Y/Y) beats by $26.48M.