Company Information

  

Address: TWO LOGAN SQUARE
100 N. 18TH STREET, 23RD FLOOR 
City: PHILADELPHIA 
State: PA 
Zip Code: 19103 
Telephone: 215-207-2100 

Description of Business

Primary SIC Code: 6798
(As filed with the SEC)  

We are an internally-managed Maryland real estate investment trust, or REIT, focused on providing commercial real estate financing throughout the United States. As explained below, we plan to continue to opportunistically divest our non-lending businesses and assets, however, presently, we also own and manage a portfolio of commercial real estate properties and manage real estate assets for third parties. We were formed in August 1997 and commenced operations in January 1998. Business Strategy During 2016, we began a strategic transition to concentrate primarily on our commercial real estate, or CRE, lending business. This is a strategic transition to a more cost efficient, lower leveraged and focused business model from being a multi-strategy REIT which also owned and managed CRE assets throughout the United States and managed our interest in IRT.  ... More ...  

Per Share Overview

Date 12-mos Rolling EPS Dividend P/E Ratio
09/2017-2.350.050N/E
06/2017-2.110.090N/E
03/2017-0.88NAN/E
12/2016-0.770.090N/E
09/2016-0.370.090N/E
06/2016-0.340.090N/E
03/2016-0.030.090N/E
12/20150.080.09033.75

Key Financial Ratios and Statistics

FYE: 12/31

Profitability 2016 Leverage 2016
Net Inc/Comm Equity0.02Total Liab/Total Assets0.81
Net Inc/Total Assets0.02Total Liab/Inv Cap0.81
Net Inc/Inv Cap0.02Total Liab/Comm Equity0.93
Pretax Inc/Net Sales-0.29Interest Coverage Ratio0.61
Net Inc/Net Sales0.42Curr Debt/EquityNA
Cash Flow/Net Sales0.91LTD/Equity4.70
SG&A/NetSales0.32Total Debt/Equity4.70
Asset Utilization   Liquidity  
Net Receivables Turnover4.44Quick RatioNA
Inventory TurnoverNACurrent RatioNA
Inventory Day SalesNANet Rec/Curr AssetsNA
Net Sales/Work CapNAInv/Curr AssetsNA
Net Sales/PP&E0.17  

Income Statement (Millions)

  9/30/2017 6/30/2017 3/31/2017 12/31/2016
Total Revenues(Net Sales) 16.72 18.48 21.73 24.90
Cost of Goods Sold 10.22 12.16 12.85 15.32
Selling & Admin Exps 7.16 7.83 7.62 15.85
Operating Income -9.97 -103.55 -16.09 -29.68
Interest Exp 18.89 19.43 19.92 20.76
Pretax Income -15.88 -116.86 -21.79 -4.15
Other Income 12.99 6.12 14.22 46.29
Net Income Bef Extraordinary ... NA NA NA NA
Net Income -15.84 -116.88 -21.54 24.73

Balance Sheet (Millions)

Assets 9/30/2017 6/30/2017 3/31/2017 12/31/2016
Cash & Short Term Investments 188.51 282.90 238.04 300.71
Receivables - Total 7.17 8.63 22.65 23.92
Inventories - Total NA NA NA NA
Total Current Assets NA NA NA NA
Net Property, Plant & Equipment 368.70 434.89 580.05 716.43
Total Assets 1,867.69 2,041.77 2,222.62 2,406.84
Liabilities        
Accounts Payable 25.98 24.39 23.62 28.36
Debt in Current Liabilities NA NA NA NA
Total Current Liabilities NA NA NA NA
Long-Term Debt 1,427.95 1,588.07 1,623.13 1,751.08
Total Liabilities 1,610.02 1,758.07 1,797.64 1,952.88
Stockholder's Equity        
Minority Interest 3.88 3.88 5.51 5.39
Preferred Stock 0.09 0.09 0.09 0.09
Common Stock 2.79 2.79 2.78 2.77
Retained Earnings -1,916.91 -1,888.10 -1,754.10 -1,723.74
Treasury Stock NA NA NA NA
Total Stockholders' Equity 180.01 208.05 341.47 372.38
Total Liabilities and Stockholders' Equity 1,790.04 1,966.12 2,139.11 2,325.26

Cash Flow Summary (Millions)

Categories 9/30/2017 6/30/2017 3/31/2017 12/31/2016
Net Cash Provided by Operating Activities 4.11 3.85 2.89 10.23
Net Cash Provided by Investing Activities 82.47 55.78 86.36 251.52
Net Cash Provided by Financing Activities -129.88 -66.75 -103.35 -216.65

Annual Summary Data (Millions)

Year Sales Net Income EPS
12/2012116.64-166.57-3.75
12/2013143.02-286.67-4.54
12/2014135.10-289.98-3.92
12/2015142.4363.490.08
12/2016120.2150.07-0.77
Growth Rates0.76----

Stock Ownership

Type Date(Q,M) No. Owners Shares Held (000s) % Own
Institutional09/30/1712248,17851.78




Report Date : 12/11/2017

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