Financial Highlights

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Select Period:
 2019 FQ22019 FQ12018 FQ42018 FQ32018 FQ2
Period Ended6/30/20193/31/201912/31/20189/30/20186/30/2018
Balance Sheet ($000)   
Gross Depreciable Property 1,059,2481,055,8031,034,4341,049,3151,052,771
Net Property Investment 933,991936,515921,134942,150949,075
Finance Leases 00000
Property Held for Sale: Nondepreciable 00000
Construction in Progress NANA0NANA
Mortgage Loans 00000
Senior Secured Debt 172,641173,290178,244178,860179,201
Obligations Under Leases 863916000
Senior Unsecured Debt 451,000451,000441,200441,455441,837
Total Subordinated Debt 00000
Total Debt 623,196623,834618,205618,685619,354
Total Liabilities 674,713670,602669,722670,659667,322
Equity Attributable to Parent Company 330,395339,643350,456354,359355,655
Noncontrolling Interests 8,0808,4108,6948,8199,672
Total Equity 338,475348,053359,150363,178365,327
Market Capitalization ($M)  509.30478.70487.70552.00496.00
Implied Market Cap ($M)  521.10489.90499.10564.90508.60
Total Capitalization ($M)  1,144.31,113.71,117.31,183.61,127.9
Total Enterprise Value ($M)  1,138.91,109.11,103.61,174.21,124.8
Total Enterprise Value Plus JV Debt ($M)  1,171.01,142.91,141.9NA1,162.3
Income Statement ($000)   
Rental Revenue 29,57829,69429,90130,70429,473
Rental Net Operating Income 20,34521,22120,05520,87320,551
NOI 20,34521,22120,05520,87320,551
Gain on Sale of Real Estate  (109) 16,5254,377 (73)
Interest Expense 6,5266,5336,4726,4196,313
Revenue 30,20230,42830,48331,45730,343
Expense 27,28627,47228,24727,70928,206
Extraordinary Items 7010000
Net Income 3,4042,8398,6748,0332,005
Net Income Attributable to Noncontrolling Int 776521719851
Net Income Attributable to Parent 3,3272,7748,4577,8351,954
Net Income Avail to Common 3,3272,7338,3817,7181,887
FFO 10,0139,8609,49010,6949,032
Operating Funds from Operations, as Reported 11,11311,81111,44212,19112,375
Adjusted FFO NANANANANA
Modified FFO NANANANANA
Financial Analysis   
ROAA (%)  1.341.113.363.110.77
ROAE (%)  3.973.219.618.822.17
Implied Capitalization Rate (%)  7.888.007.938.008.05
Dividend Payout Ratio (%)  356.25407.14135.71150.00570.00
Dividend Yield (%)  8.989.489.308.219.13
FFO Payout (%)  118.75118.75123.91114.00135.71
FFO / Total Revenue (%)  33.1532.4031.1334.0029.77
Price / LTM FFO (x)  13.2012.9013.0015.1013.60
Price / LTM AFFO (x)  NANANANANA
Price / Last-twelve-months EPS (x)  23.1023.1023.6037.5049.90
Recurring EBITDA / Interest Expense (x)  2.462.442.372.592.63
Recurring EBITDA / Interest Expense + Pref. Div. (x)  2.462.442.372.592.63
Debt and Preferred / TEV (%)  55.9657.5357.49NA56.51
Total Debt / Gross Properties (%)  58.8359.0959.7658.9658.83
Loans / Assets (%)  00000
Credit Lines Drawn / Available (%)  34.4034.4080.4080.4080.40
Changes and Trends (%)   
Same-store NOI: Change 02.40(1.00)NANA
Same-store Revenue: Change from Prior 1.001.000NANA
FFO Growth 10.86(2.40)4.785.585.72
FFO / Share Growth 14.3004.500(4.5)
EPS Growth, before Extraordinary 20.00(12.5)320.00171.400
Real Estate Investment Growth (1.10)(1.04)1.10(2.65)(1.45)
Per Share Information ($)   
Common Shares Outstanding 40,136,68339,828,74539,778,02939,772,10539,743,829
Closing Price 12.6912.0212.2613.8812.48
Basic EPS before Extra 0.060.070.210.200.05
Diluted EPS before Extra 0.060.070.210.190.05
FFO / Share 0.240.240.230.250.21
Operating FFO per Share, as Reported 0.270.280.270.290.30
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 619990246,85725510,257
Debt Maturing: Next FY 9,3809,44059,500246,904246,950
Debt Maturing: FY2 0050,00059,56050,000
Debt Maturing: FY3 100,000100,000100,00050,00050,000
Debt Maturing: FY4 107,215107,31921,426100,000100,000
Debt Maturing: Thereafter 406,427406,541141,661163,306163,516
Principal Payments Schedule ($000)   
Debt Due this Fiscal Year 1,3952,044248,199NANA
Debt Due during Next Fiscal Year 10,80110,80160,801NANA
Debt Due during Second Fiscal Year 1,6111,61151,611NANA
Debt Due during Third Fiscal Year 101,683101,683101,683NANA
Debt Due during Fourth Fiscal Year 113,863113,86320,720NANA
Debt Due Thereafter 394,288394,288136,430NANA
Adjustments to Debt Principal Schedule  (1,308) (1,372) (1,239) NANA
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