Ground and Operating Lease Purchases, Financial Results, and Dividends - Analyst Notes on EmpireState Realty Trust, BofI Holding, Post Properties, PMT and RLJ

NEW YORK, May 23, 2014 /PRNewswire/ --

Today, Analysts Review released its analysts' notes regarding Empire State Realty Trust, Inc. (NYSE: ESRT), BofI Holding Inc. (NASDAQ: BOFI), Post Properties Inc. (NYSE: PPS), PennyMac Mortgage Investment Trust (NYSE: PMT) and RLJ Lodging Trust (NYSE: RLJ). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at: http://www.analystsreview.com/2862-100free.

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Empire State Realty Trust, Inc. Analyst Notes
On May 19, 2014, Empire State Realty Trust, Inc. announced that it has exercised its options to purchase the ground and operating leases at 112 West 34th Street and the ground lease at 1400 Broadway for c.$734 million in cash, common stock, and operating partnership units. The Company informed that under the terms of the option agreements, 112 West 34th Street leasehold and fee title to a small contiguous property will be acquired for c.$423.6 million, or c.$570 per square foot, consisting of $87.7 million assumption of existing mortgage debt, $115.5 million in cash and $220.4 million in Class A and Class B common stock shares and series PR OP units. Meanwhile, 1400 Broadway will be acquired for $310.0 million, or c.$346 per square foot, consisting of $80.0 million by assumption of existing mortgage debt, $85.5 million in cash, and $144.5 million in Class A and Class B common stock shares and series PR OP units. The full analyst notes on Empire State Realty Trust are available to download free of charge at:

http://www.analystsreview.com/2862-ESRT-23May2014.pdf

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BofI Holding Inc. Analyst Notes
On May 6, 2014, BofI Holding Inc. reported its Q3 FY 2014 financial results (period ended March 31, 2014). Net income attributable to common stockholders increased to $14.5 million, or $1.00 per diluted share, compared to $10.1 million, or $0.74 per diluted share in Q3 FY 2013. Net interest income increased $9.5 million or 36.1% YoY to $35.7 million during the quarter. Meanwhile, loan loss provision of $1.6 million is consistent with Q1 FY 2013, resulting from improvements in non-performing loans and delinquencies and was partially offset by additional provisions needed for growth in the loan portfolio. The full analyst notes on BofI Holding are available to download free of charge at:

http://www.analystsreview.com/2862-BOFI-23May2014.pdf

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Post Properties Inc. Analyst Notes
On May 8, 2014, Post Properties Inc. (Post Properties) declared quarterly dividends on its common stock of $0.40 per share for Q2 2014. The dividend is payable on July 15, 2014 to all common shareholder of record as of June 30, 2014. Dave Stockert, CEO and President, Post Properties, said, "We are pleased to raise the dividend to common shareholders, to reflect the strength of our business, and consistent with our capital allocation plans. With today's announcement, we expect our annualized rate of common dividends to increase to $1.60 per share." In addition, the Company announced regular quarterly dividends for its 8.5% Series A Cumulative Redeemable Preferred Stock of $1.0625 per share for Q2 2014. The dividend is payable on June 30, 2014 to all Series A preferred shareholders of record as of June 16, 2014. The full analyst notes on Post Properties are available to download free of charge at:

http://www.analystsreview.com/2862-PPS-23May2014.pdf

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PennyMac Mortgage Investment Trust Analyst Notes
On May 7, 2014, PennyMac Mortgage Investment Trust (PMT) reported its Q1 2104 financial results. Net investment income fell 29.0% YoY to $76.6 million during the quarter. Net income was $37.9 million, or $0.50 per diluted share, compared with $53.3 million, or $0.90 per diluted share in Q1 2013. Stanford L. Kurland, Chairman and CEO, PMT, said, "The reduction in earnings for the first quarter was driven by reduced income in PMT's correspondent lending business and lower gains in the distressed whole loan portfolio. We believe that PMT has in place and continues to develop a balance sheet that is well positioned across multiple residential mortgage-related strategies. During the quarter, we made selective new investments in nonperforming loans as well as continuing investments in MSRs and ESS which we believe will deliver attractive returns on equity." The full analyst notes on PMT are available to download free of charge at:

http://www.analystsreview.com/2862-PMT-23May2014.pdf

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RLJ Lodging Trust Analyst Notes
On May 7, 2014, RLJ Lodging Trust (RLJ) reported its Q1 2014 financial results. Revenue increased 10.0% YoY to $236.4 million. Net income was $11.9 million, or $0.10 per diluted share, compared with $8.5 million, or $0.08 per diluted share in Q1 2013. Adjusted EBITDA increased 9.9% YoY to $67.4 million while adjusted FFO increased 21.5% YoY to $53.5 million. Thomas J Baltimore, Jr., President and CEO, said, "We started 2014 with very strong momentum. We completed several key transactions in addition to once again reporting strong operational results. We reinvested the proceeds from the sale of 13 nonstrategic properties into 10 properties that increase our presence in high-growth markets. The results have been immediately accretive and provide us with a very solid foundation for future growth." The full analyst notes on RLJ are available to download free of charge at:

http://www.analystsreview.com/2862-RLJ-23May2014.pdf

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