Fri, May 8, 7:28 AM
- Q1 core earnings of $8M or $0.12 per share flat from Q4. AFFO of $7M or $0.11 vs. $11M and $0.17. DIvidend is $0.12.
- Real Estate Debt Portfolio asset face value of $1B - $600M of non-agency assets and $400M of agency. Portfolio increased in value by $6M during quarter to price of 87% of par. $43M in non-agency asset pay downs and recovered $7M of net proceeds to company. Generated $15M if NII, or a 16% annualized yield.
- Golf Business owned and leased 88 properties over 14 states. 270 private club members added to same store portfolio, increased rounds played by about 9K. Added a golf property in SoCal; signed a 21-year lease to operate a 27-hole muni course which generated more than $3B of revenue in 2014.
- Earnings call at 9 ET
- Previously: Newcastle Investment reports Q1 results (May 8)
- NCT flat premarketN
Fri, May 8, 7:22 AM
Thu, May 7, 5:30 PM
Mon, Mar. 16, 6:10 PM
Thu, Mar. 12, 3:02 PM| 1 Comment
Thu, Mar. 5, 7:27 AM
Mon, Mar. 2, 9:18 AM
Mon, Mar. 2, 7:38 AM
Sun, Mar. 1, 5:30 PM
Dec. 22, 2014, 7:43 AM
Nov. 18, 2014, 8:53 AM
- "Our positive thesis is based primarily on the industry opportunity and the company's off-market acquisition strategy and managed portfolio, which we expect to drive higher than average industry returns," says Compass Point analyst Jason Stewart, starting New Senior (NYSE:SNR) with a Buy rating and $20 price target. "In addition, the current valuation provides for sufficient downside protection for execution of the acquisition strategy, which is likely to be lumpy quarter to quarter."
- Despite said lumpiness, Stewart expects the company to close on what is likely a substantial pipeline, and for SNR to be able to generate necessary efficiencies.
- The $20 price target is based on a 20% discount to NAV, a 17x AFFO multiple, and a dividend yield of 5.5%.
- The stock is down 7.9% since being spun off from Newcastle Investment (NYSE:NCT) at the end of last month.
Nov. 7, 2014, 5:35 PM
Nov. 7, 2014, 9:47 AM
- Following the completion of its spinoff from Newcastle Investment (NYSE:NCT), New Senior (NYSE:SNR) is up 1.2% to $19.54 from its close last night (in when-issued trading).
- Newcastle is at $4.23 in early action, down $19.30 from its close last night, so NCT owners (who received one share of SNR for each share of NCT) - for the moment - are ahead on the session.
- Previously: Newcastle makes case for higher valuation amid spinoff
Nov. 7, 2014, 7:15 AM| 2 Comments
Nov. 4, 2014, 7:12 AM
- Q3 core earnings of $29M or $0.47 per share vs. $30M and $0.51 one year ago. Adjusted FFO of $41M or $0.66 per share vs. $62M or $1.06 a year ago.
- New Senior spinoff to occur on November 6. The unit acquired four properties in Q3 for about $77M, and is in contract for another eight properties for $160M.
- Debt portfolio: Generated return of capital of $38M from asset sales, paydowns, and financings.
- Conference call at 10 ET
- Previously: Newcastle Investment AFFO of $0.66
- NCT flat premarket
Nov. 4, 2014, 6:44 AM
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