SA Transcripts • Nov. 4, 2014
Nov. 3, 2014, 6:28 PM
- Normalized FFO of $57.3M or $0.44 per share vs. $63.7M and $0.54 one year ago. Normalized FFO excludes the $171.8M or $1.33 per share gain from the sale of Select Income REIT.
- Overall portfolio 85.9% leased vs. 86.7% in Q2, 86.8% a year ago. Cash rental rates on new and renewal leases down 2.8% from prior rates. Same-property NOI up 5.1% Y/Y. Same-property cash NOI up 7% thanks to the settlement of litigation with a former tenant.
- No common dividends expected for the rest of this year as new management focuses on improving the value of the portfolio. The new team assumed total control of company operations from RMR on October 1.
- Shareholders approved maximum payment of $33.5M to Related/Corvex to cover their consent solicitation costs. About $16.7M was paid in Q3, and the remaining payments are contingent on average closing share price of $26 in 2015 and 2016.
- Conference call tomorrow at 10:30 ET
- Previously: Equity Commonwealth misses by $0.12, beats on revenue
- EQC flat after-hours
Nov. 3, 2014, 5:39 PM| Comment!
Nov. 2, 2014, 5:35 PM
- ACXM, AEIS, AGU, AIG, AMTG, ANV, APL, BDE, BKH, CHGG, CKP, CRK, CUTR, CVD, CXW, CYH, DXPE, EGAN, ELNK, ENH, EOX, EPAM, EQC, FN, FTR, GALE, GRT, GTY, HLF, IART, ININ, KAMN, KBR, LCI, MCEP, MDU, MR, MRO, NBIX, NLS, NOR, NTRI, OGS, OTTR, PKT, PL, PLOW, PQ, QLYS, RBC, REG, RKT, RKUS, RLD, RTEC, SALE, SBRA, SGY, SKH, SNHY, SRC, SSW, SUP, TDW, THC, TXRH, VNO, VNR, WTR, Y
Aug. 5, 2014, 6:47 PM
- Equity Commonwealth (NYSE:EQC): Q2 FFO of $0.68 beats by $0.10.
- Revenue of $215.19M (-17.9% Y/Y) misses by $1.29M.
May. 8, 2014, 9:31 AM| Comment!
Feb. 27, 2014, 8:57 AM
- Normalized FFO per share of $0.63 dives from $0.82 a year ago. Normalized FFO actually grew (to $74.8M from $68.7M), but management's heavily dilutive secondary offering last year stung the per share result.
- 89.6% of total square footage is leased, the same as the end of Q3.
- No purchase agreements have been entered into since the start of this year. As of Dec. 31, 45 properties with 8.4M square feet are classified as held for sale. Company expects to move them this year.
- CC at 1 ET, but don't expect a discussion of anything but operations.
- Press release, Q4 results
- CWH no trades premarket
Feb. 27, 2014, 8:04 AM| Comment!
Feb. 27, 2014, 12:05 AM| Comment!
Feb. 26, 2014, 5:30 PM| 1 Comment
Nov. 6, 2013, 8:19 AM
- Normalized FFO of $67.3M or $0.57 per share compares to $69.3M or $0.83 per share a year ago (share count boosted to 118M from 84M). Not included are litigation costs of $13.8M or $0.12 per share.
- Company made no acquisitions or agreements for acquisitions during quarter, keeping the total for the year at zero. Company has sold 38 of 40 targeted (at start of year) suburban properties and the remaining two are under agreement. In September, company targeted another 45 properties and these have been reclassified into discontinued operations as of the end of Q3. The company expects to have unloaded them by the middle of next year.
- Commonwealth no longer includes Select Income REIT (SIR) as part of its operations as a summer stock offering brought CWH's stake to less than 50% of the company.
- CC at 1 ET.
- Q3 results, press release.
Nov. 6, 2013, 7:07 AM| Comment!
Nov. 6, 2013, 12:05 AM| Comment!
Nov. 5, 2013, 5:30 PM| Comment!
Aug. 7, 2013, 8:05 AM
- CommonWeatlh REIT (CWH): Q2 normalized FFO per share of $0.63 misses by $0.01.
- Revenue of $274.8M beats by $2M.
- Normalized FFO/share of $0.63 compares to $0.83 a year ago as the share count rose to 118.3M from 83.7M.
- Earnings call at 1 ET is likely to stick to operations and not address anything related to Corvex consent solicitation. (PR)
Aug. 7, 2013, 12:05 AM
Aug. 6, 2013, 5:30 PM
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