Financial Highlights

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Select Period:
 2019 FQ12018 FQ42018 FQ32018 FQ22018 FQ1
Period Ended3/31/201912/31/20189/30/20186/30/20183/31/2018
Balance Sheet ($000)   
Gross Depreciable Property 1,055,8031,034,4341,049,3151,052,7711,051,984
Net Property Investment 936,515921,134942,150949,075953,196
Finance Leases 00000
Property Held for Sale: Nondepreciable 00000
Construction in Progress NA0NANANA
Mortgage Loans 00000
Senior Secured Debt 173,290178,244178,860179,201179,541
Obligations Under Leases 9160000
Senior Unsecured Debt 451,000441,200441,455441,837442,219
Total Subordinated Debt 00000
Total Debt 623,834618,205618,685619,354619,986
Total Liabilities 670,602669,722670,659667,322666,562
Equity Attributable to Parent Company 339,643350,456354,359355,655362,715
Noncontrolling Interests 8,4108,6948,8199,67210,646
Total Equity 348,053359,150363,178365,327373,361
Market Capitalization ($M)  478.70487.70552.00496.00407.10
Implied Market Cap ($M)  489.90499.10564.90508.60418.30
Total Capitalization ($M)  1,113.71,117.31,183.61,127.91,038.3
Total Enterprise Value ($M)  1,109.11,103.61,174.21,124.81,031.3
Total Enterprise Value Plus JV Debt ($M)  1,142.91,141.9NANA1,071.2
Income Statement ($000)   
Rental Revenue 29,69429,90130,70429,47329,785
Rental Net Operating Income 21,22120,05520,87320,55120,953
NOI 21,22120,05520,87320,55120,953
Gain on Sale of Real Estate 16,5254,377 (73) 69
Interest Expense 6,5336,4726,4196,3135,973
Revenue 30,42830,48331,45730,34330,716
Expense 27,47228,24727,70928,20627,406
Extraordinary Items 00000
Net Income 2,8398,6748,0332,0053,269
Net Income Attributable to Noncontrolling Int 652171985188
Net Income Attributable to Parent 2,7748,4577,8351,9543,181
Net Income Avail to Common 2,7338,3817,7181,8873,140
FFO 9,8609,49010,6948,95310,102
Operating Funds from Operations, as Reported 11,81111,44212,19112,29612,690
Adjusted FFO NANANANANA
Modified FFO NANANANANA
Financial Analysis   
ROAA (%)  1.113.363.110.771.24
ROAE (%)  3.219.618.822.173.57
Implied Capitalization Rate (%)  8.007.938.008.057.99
Dividend Payout Ratio (%)  407.14135.71150.00570.00356.25
Dividend Yield (%)  9.489.308.219.1310.97
FFO Payout (%)  118.75123.91114.00135.71118.75
FFO / Total Revenue (%)  32.4031.1334.0029.5132.89
Price / LTM FFO (x)  12.9013.0015.1013.6011.20
Price / LTM AFFO (x)  NANANANANA
Price / Last-twelve-months EPS (x)  23.1023.6037.5049.9041.60
Recurring EBITDA / Interest Expense (x)  2.442.372.592.632.72
Recurring EBITDA / Interest Expense + Pref. Div. (x)  2.442.372.592.632.72
Debt and Preferred / TEV (%)  57.5357.49NANA61.60
Total Debt / Gross Properties (%)  59.0959.7658.9658.8358.93
Loans / Assets (%)  00000
Credit Lines Drawn / Available (%)  34.4080.4080.4080.4080.40
Changes and Trends (%)   
Same-store NOI: Change 2.40(1.00)NANANA
Same-store Revenue: Change from Prior 1.000NANANA
FFO Growth (2.40)4.785.584.8038.19
FFO / Share Growth 04.500(4.5)4.30
EPS Growth, before Extraordinary (12.5)320.00171.400100.00
Real Estate Investment Growth (1.04)1.10(2.65)(1.45)(19.57)
Per Share Information ($)   
Common Shares Outstanding 39,828,74539,778,02939,772,10539,743,82939,179,540
Closing Price 12.0212.2613.8812.4810.39
Basic EPS before Extra 0.070.210.200.050.08
Diluted EPS before Extra 0.070.210.190.050.08
FFO / Share 0.240.230.250.210.24
Operating FFO per Share, as Reported 0.280.270.290.290.31
AFFO per Share NANANANANA
Modified FFO per Share NANANANANA
Common Dividends Declared per Share 0.290.290.290.290.29
NAV per Share, as Reported NANANANANA
Debt Maturity Schedule ($000)   
Debt Maturing: Current FY 990246,85725510,25710,699
Debt Maturing: Next FY 9,44059,500246,904246,950246,996
Debt Maturing: FY2 050,00059,56050,00050,000
Debt Maturing: FY3 100,000100,00050,00050,00050,000
Debt Maturing: FY4 107,31921,426100,000100,000100,000
Debt Maturing: Thereafter 406,541141,661163,306163,516165,418
Principal Payments Schedule ($000)   
Debt Due this Fiscal Year 2,044248,199NANANA
Debt Due during Next Fiscal Year 10,80160,801NANANA
Debt Due during Second Fiscal Year 1,61151,611NANANA
Debt Due during Third Fiscal Year 101,683101,683NANANA
Debt Due during Fourth Fiscal Year 113,86320,720NANANA
Debt Due Thereafter 394,288136,430NANANA
Adjustments to Debt Principal Schedule  (1,372) (1,239) NANANA
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