Financial Highlights

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Select Period:
 2018 FQ42018 FQ32018 FQ22018 FQ12017 FQ4
Period Ended12/31/20189/30/20186/30/20183/31/201812/31/2017
Balance Sheet ($000)   
Gross Depreciable Property 1,034,4341,049,3151,052,7711,051,9841,088,321
Net Property Investment 921,134942,150949,075953,196958,382
Finance Leases 00000
Property Held for Sale: Nondepreciable 00000
Construction in Progress 0NANANA42,997
Mortgage Loans 00000
Senior Secured Debt 178,244178,860179,201179,541228,729
Obligations Under Leases 00000
Senior Unsecured Debt 441,200441,455441,837442,219432,200
Total Subordinated Debt 00000
Total Debt 618,205618,685619,354619,986659,068
Total Liabilities 669,722670,659667,322666,562711,764
Equity Attributable to Parent Company 350,456354,359355,655362,715347,604
Noncontrolling Interests 8,6948,8199,67210,64610,800
Total Equity 359,150363,178365,327373,361358,404
Market Capitalization ($M)  487.70552.00496.00407.10565.20
Implied Market Cap ($M)  499.10564.90508.60418.30580.80
Total Capitalization ($M)  1,117.31,183.61,127.91,038.31,239.9
Total Enterprise Value ($M)  1,103.61,174.21,124.81,031.31,234.9
Total Enterprise Value Plus JV Debt ($M)  1,141.9NANANA1,234.9
Income Statement ($000)   
Rental Revenue 29,90130,70429,47329,78533,831
Rental Net Operating Income 20,05520,87320,55120,95322,282
NOI 20,05520,87320,55120,95322,282
Gain on Sale of Real Estate 6,5254,377 (73) 69 (48)
Interest Expense 6,4726,4196,3135,9736,493
Revenue 30,48331,45730,34330,71633,860
Expense 28,24727,70928,20627,40631,747
Extraordinary Items 00000
Net Income 8,6748,0332,0053,2691,975
Net Income Attributable to Noncontrolling Int 217198518854
Net Income Attributable to Parent 8,4577,8351,9543,1811,921
Net Income Avail to Common 8,3817,7181,8873,1401,809
FFO 9,49010,6948,95310,0209,057
Operating Funds from Operations, as Reported 11,44212,19112,29612,60812,165
Adjusted FFO NANANANANA
Modified FFO NANANANANA
Financial Analysis   
ROAA (%)  3.363.110.771.240.74
ROAE (%)  9.618.822.173.572.22
Implied Capitalization Rate (%)  7.938.008.057.998.03
Dividend Payout Ratio (%)  135.71150.00570.00356.25570.00
Dividend Yield (%)  9.308.219.1310.977.91
FFO Payout (%)  123.91114.00135.71118.75129.55
FFO / Total Revenue (%)  31.1334.0029.5132.6226.75
Price / LTM FFO (x)  13.0015.1013.6011.2015.50
Price / LTM AFFO (x)  NANANANANA
Price / Last-twelve-months EPS (x)  23.6037.5049.9041.6065.50
Recurring EBITDA / Interest Expense (x)  2.372.592.632.722.45
Recurring EBITDA / Interest Expense + Pref. Div. (x)  2.372.592.632.722.45
Debt and Preferred / TEV (%)  57.49NANANA53.37
Total Debt / Gross Properties (%)  59.7658.9658.8358.9360.56
Loans / Assets (%)  00000
Credit Lines Drawn / Available (%)  80.4080.4080.4080.4077.40
Changes and Trends (%)   
Same-store NOI: Change (1.00)NANANA0
Same-store Revenue: Change from Prior 0NANANA2.00
FFO Growth 4.785.584.8037.0746.67
FFO / Share Growth 4.500(4.5)4.3010.00
EPS Growth, before Extraordinary 320.00171.400100.00400.00
Real Estate Investment Growth 1.10(2.65)(1.45)(19.57)0.87
Per Share Information ($)   
Common Shares Outstanding 39,778,02939,772,10539,743,82939,179,54039,221,773
Closing Price 12.2613.8812.4810.3914.41
Basic EPS before Extra 0.210.200.050.080.05
Diluted EPS before Extra 0.210.190.050.080.05
FFO / Share 0.230.250.210.240.22
Operating FFO per Share, as Reported 0.270.290.290.310.30
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 246,85725510,25710,6999,740
Debt Maturing: Next FY 59,500246,904246,950246,996238,042
Debt Maturing: FY2 50,00059,56050,00050,00083,148
Debt Maturing: FY3 100,00050,00050,00050,00050,000
Debt Maturing: FY4 21,426100,000100,000100,000100,000
Debt Maturing: Thereafter 141,661163,306163,516165,418179,999
Principal Payments Schedule ($000)   
Debt Due this Fiscal Year 248,199NANANA12,208
Debt Due during Next Fiscal Year 60,801NANANA240,249
Debt Due during Second Fiscal Year 51,611NANANA82,827
Debt Due during Third Fiscal Year 101,683NANANA51,918
Debt Due during Fourth Fiscal Year 20,720NANANA102,007
Debt Due Thereafter 136,430NANANA171,720
Adjustments to Debt Principal Schedule  (1,239) NANANA (1,861)
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