Financial Results, Joint Ventures, Stock Price Movements and New Tenants - Analyst Notes on ARCP, Signature Bank, PHH, Fifth Street Finance and ESRT
Editor Note: For more information about this release, please scroll to bottom.
NEW YORK, May 14, 2014 /PRNewswire/ --
Today, Analysts Review released its analysts' notes regarding American Realty Capital Properties, Inc. (NASDAQ: ARCP), Signature Bank (NASDAQ: SBNY), PHH Corporation (NYSE: PHH), Fifth Street Finance Corp. (NASDAQ: FSC) and Empire State Realty Trust, Inc. (NYSE: ESRT). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at: http://www.analystsreview.com/2421-100free.
American Realty Capital Properties, Inc. Analyst Notes
On May 8, 2014, American Realty Capital Properties, Inc. (ARCP) reported its Q1 2014 financial results. Total revenues for Q1 2014 were up significantly by 647.4% YoY to $320.6 million. However, Q1 2014 net loss attributable to common stockholders widened to $332.3 million or $0.61 per diluted share, compared to Q1 2013 net loss of $141.2 million or $0.84 per diluted share. Commenting on the results, CEO and Executive Chairman of ARCP, Nicholas S. Schorsch, stated, "We had a record quarter with earnings coming exactly in line with our expectations of $0.26 AFFO per share, consistent with our previously stated guidance for the year. Additionally, our year-to-date acquisitions, combined with properties currently under contract puts us well-ahead of schedule to achieve our total 2014 annual acquisition targets by midyear. With our strengthened balance sheet, and the Company ready to capitalize on a number of large-scale sale- leaseback transactions, we are in position to deliver strong shareholder return this year." The full analyst notes on ARCP are available to download free of charge at:
http://www.analystsreview.com/2421-ARCP-14May2014.pdf
Signature Bank Analyst Notes
On May 9, 2014, Signature Bank's stock went up by 1.57%, ending the day at $118.21 per share. Over the past six months, the Company's stock has increased 12.06%, outperforming the Nasdaq Composite which gained 3.89% during the same trading period. The full analyst notes on Signature Bank are available to download free of charge at:
http://www.analystsreview.com/2421-SBNY-14May2014.pdf
PHH Corporation Analyst Notes
On May 7, 2014, PHH Corporation (PHH) reported its Q1 2014 financial results. Q1 2014 net revenues were down by 29.2% YoY to $517 million. Net loss attributable to PHH for Q1 2014 was $42 million or $0.73 per diluted share, compared to net income attributable to PHH for Q1 2013 of $52 million or $0.79 per diluted share. PHH President and CEO Glen A. Messina, commented, "In the first quarter, our Fleet business again delivered strong earnings while results in our Mortgage business were consistent with the mortgage industry environment and our expectations. We continue to take decisive actions to strengthen PHH's position to meet the challenges and opportunities that lie ahead in a home purchase-driven market. We continue to explore a separation or sale of our businesses, following a disciplined process focused on optimizing both near-term and long-term value for our shareholders. We expect to reach conclusions in this process by the end of the second quarter." The full analyst notes on PHH are available to download free of charge at:
http://www.analystsreview.com/2421-PHH-14May2014.pdf
Fifth Street Finance Corp. Analyst Notes
On May 7, 2014, Fifth Street Finance Corp. (FSC) announced that it has formed a joint venture with Trinity Universal Insurance Company (Trinity), a subsidiary of Kemper Corporation. According to the Company, the venture aims to create Senior Loan Fund JV I, LLC (SLF JV I), and is expected to invest primarily in middle market and other corporate debt securities, consistent with the Company's core origination and underwriting strategy. Additionally, the Company stated that FSC and Trinity have committed to provide $100 million of subordinated notes and equity to the joint venture, with FSC providing $87.5 million and Trinity providing $12.5 million. Also, SLF JV I intends to seek up to $200 million in third party financing. FSC's CEO, Leonard M. Tannenbaum, said, "Growing SLF JV I should lead to a higher return on equity and net investment income per share at FSC, and represents another sign of progress toward implementing the strategic initiatives we previously outlined that should lead to improving earnings." The full analyst notes on Fifth Street Finance are available to download free of charge at:
http://www.analystsreview.com/2421-FSC-14May2014.pdf
Empire State Realty Trust, Inc. Analyst Notes
On May 5, 2014, Empire State Realty Trust, Inc. (ESRT) announced that six tenants have leased a total of 25,000 sq. ft. of pre-built space at the Empire State Building. According to ESRT, the six tenants include Qatar Airways, Taurasi Capital Management LLC, RKY Services (US) Inc., BioSynthema, Inc., Moses & Ziegelman, LLP, and Community Options, Inc. Commenting on this, Thomas P. Durels, Chief of Property Operations and Leasing for ESRT, stated, "Our pre-builts are attracting tenants from the Plaza District to Midtown South, who are coming to The Urban Campus at the Empire State Building to enhance employees' productivity and collaboration experience." The full analyst notes on ESRT are available to download free of charge at:
http://www.analystsreview.com/2421-ESRT-14May2014.pdf
About Analysts Review
We do things differently. Our goal is to provide the best content to our exclusive membership. We are constantly hiring researchers, writers, editors and analysts to add to our team and become better than yesterday. If being a part of a fast growing community with an edge in today's market sounds interesting to you, then sign-up today and experience the full benefits of membership.
===============
EDITOR'S NOTES:
===============
1. This is not company news. We are an independent source and our views do not reflect the companies mentioned.
2. Information in this release is produced on a best efforts basis by Rohit Tuli, a CFA charterholder. The content is then further fact checked and reviewed by an outsourced research provider. However, we are only human and are prone to make mistakes. If you notice any errors or omissions, please notify us below.
3. This information is submitted as a net-positive to companies mentioned, to increase awareness for mentioned companies to our subscriber base and the investing public.
4. If you wish to have your company covered in more detail by our team, or wish to learn more about our services, please contact us at pubco [at] http://www.analystsreview.com.
5. For any urgent concerns or inquiries, please contact us at compliance [at] http://www.analystsreview.com.
6. Are you a public company? Would you like to see similar coverage on your company? Send us a full investors' package to research [at] http://www.analystsreview.com for consideration.
COMPLIANCE PROCEDURE
Content is researched, written and reviewed on a best-effort basis. This document, article or report is prepared and authored by Analysts Review, represented by Rohit Tuli, CFA. An outsourced research services provider has only reviewed the information provided by Analysts Review in this article or report according to the procedures outlined by Analysts Review. Analysts Review is not entitled to veto or interfere in the application of such procedures by the outsourced provider to the articles, documents or reports, as the case may be.
NOT FINANCIAL ADVICE
Analysts Review makes no warranty, expressed or implied, as to the accuracy or completeness or fitness for a purpose (investment or otherwise), of the information provided in this document. This information is not to be construed as personal financial advice. Readers are encouraged to consult their personal financial advisor before making any decisions to buy, sell or hold any securities mentioned herein.
NO WARRANTY OR LIABILITY ASSUMED
Analysts Review is not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted by Analysts Review whatsoever for any direct, indirect or consequential loss arising from the use of this document. Analysts Review expressly disclaims any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Analysts Review does not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE Analysts Review
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article