Valuation

Snow Park Highlights Conflicts and Flaws in Front Yard’s Amended External Management Agreement

Retrieved on: 
Thursday, May 9, 2019
Professional services, REIT, Banking, Consulting, Finance, Other Professional Services, Construction & Property, Other Construction & Property, Economy, Finance, Money, Valuation, Debt, Leverage, Asset management, Professional services, REIT, Banking, Consulting, Finance, Other Professional Services, Construction & Property, Other Construction & Property, Economy, Finance, Money, Valuation, Debt, Leverage, Asset management

The letter focuses on what Snow Park believes are value-destructive amendments to Front Yards external management agreement with Altisource Asset Management Corporation changes that we feel perpetuate the same problems that led to the value erosion in the first place.

Key Points: 
  • The letter focuses on what Snow Park believes are value-destructive amendments to Front Yards external management agreement with Altisource Asset Management Corporation changes that we feel perpetuate the same problems that led to the value erosion in the first place.
  • To the contrary, Snow Park feels the amendments actually further misalign the interests of management and stockholders making the need for real ownership perspectives in the boardroom all the more important.
  • As a consequence of the amended agreement, we believe stockholders have been forced to sacrifice valuable flexibility and leverage over AAMC.
  • Management has only offered growth despite Front Yards valuation gap and no identifiable capital sources as a strategy.

Superior Plus Corp. Announces Record First Quarter Adjusted EBITDA of $239.9 million and Increases 2019 Adjusted EBITDA Guidance

Retrieved on: 
Thursday, May 9, 2019
Energy, Oil, Gas, Manufacturing, Chemicals, Plastics, Finance, Economy, Fundamental analysis, Money, Earnings before interest, taxes, depreciation, and amortization, Private equity, Profit, Financial ratio, International Financial Reporting Standards, Valuation

Superior expects to achieve $21.5 million in run-rate synergies by the third quarter of 2019.

Key Points: 
  • Superior expects to achieve $21.5 million in run-rate synergies by the third quarter of 2019.
  • Superior is focused on managing its total debt and its total debt to Adjusted EBITDA ratio.
  • Credit Facility EBITDA, which excludes the impact of IFRS 16 for the trailing twelve months ended March 31, 2019 was $457 million.
  • See Non-GAAP Financial Measures for the definition of Credit Facility EBITDA and the MD&A for the reconciliation from Adjusted EBITDA.

Phillips Edison & Company Reports First Quarter 2019 Results; Increases Estimated Value Per Share to $11.10

Retrieved on: 
Thursday, May 9, 2019
Convenience store, Department Stores, Discount, Variety, Luxury, Online Retail, Restaurant, Bar, Home Goods, Office Products, REIT, Retail, Fashion, Food, Beverage, Specialty, Construction & Property, Supermarket, Commercial Building & Real Estate, Finance, Financial markets, Money, Corporate finance, Equity securities, Stock market, Stock, Valuation, Fundamental analysis

As a result, the Company recognized a $1.1 million increase in net expenses for the three months ended March 31, 2019.

Key Points: 
  • As a result, the Company recognized a $1.1 million increase in net expenses for the three months ended March 31, 2019.
  • Effective May 8, 2019, the Companys board of directors increased the estimated value per share of its common stock to $11.10 as of March 31, 2019.
  • Duff & Phelps was engaged to provide a calculation of the range in estimated value per share of the Companys common stock as of March 31, 2019.
  • These calculations produced an estimated value per share in the range of $10.07 to $11.48.

Ellington Financial Declares Monthly Dividend of $0.14 Per Share and Announces Estimated Book Value Per Share of $18.90 as of April 30, 2019

Retrieved on: 
Wednesday, May 8, 2019
Professional services, Banking, Finance, Financial markets, Corporate finance, Finance, Valuation, Dividends, Fundamental analysis, Shareholders, Dividend, Ex-dividend date, Book value

The Company also announced its estimated book value per share of $18.90 as of April 30, 2019.

Key Points: 
  • The Company also announced its estimated book value per share of $18.90 as of April 30, 2019.
  • This estimate includes the effect of the previously announced monthly dividend of $0.14 per share, payable on May 28, 2019 to holders of record on April 30, 2019, with an ex-dividend date of April 29, 2019.
  • Estimated book value per share is subject to change upon completion of the Company's month-end valuation procedures relating to its investment positions, and any such change could be material.
  • Ellington Financial is externally managed and advised by Ellington Financial Management LLC, an affiliate of Ellington Management Group, L.L.C.

Asset Panda CEO Selected As Entrepreneur Of The Year Finalist

Retrieved on: 
Tuesday, May 7, 2019
Management accounting, Asset management, Valuation

FRISCO, Texas, May 7, 2019 /PRNewswire-PRWeb/ --Recognition for Asset Panda 's capabilities and success continues as CEO, Rex Kurzius, is selected as a finalist for Ernst & Young's Entrepreneur of the Year 2019 Southwest.

Key Points: 
  • FRISCO, Texas, May 7, 2019 /PRNewswire-PRWeb/ --Recognition for Asset Panda 's capabilities and success continues as CEO, Rex Kurzius, is selected as a finalist for Ernst & Young's Entrepreneur of the Year 2019 Southwest.
  • Winners will be announced at an Ernst & Young gala located at the Hilton Antole Dallas on June 29.
  • Asset Panda is a powerful and flexible cloud-based asset management software designed to help the world work smarter.
  • Asset Panda provides a simple, strategic solution that saves companies an average of two hours per day with its robust capabilities, including asset tracking, inventory management, vendor management and purchase order generation.

Heritage Global Inc. Announces 2019 First Quarter Operating Results

Retrieved on: 
Monday, May 6, 2019
Professional services, Banking, Finance, Economy, Articles, Intangible assets, Financial economics, Asset, Intangible asset, Intangibles, Valuation, Monetization

Asset sales represent revenue generated from activities in which Heritage Global acted in a principal capacity, reselling previously purchased assets.

Key Points: 
  • Asset sales represent revenue generated from activities in which Heritage Global acted in a principal capacity, reselling previously purchased assets.
  • Operating income was $0.7 million versus $1.4 million in the first quarter of 2018.
  • Heritage Global Inc. (OTCQB: HGBL, CSE: HGP) is a global diversified financial services and asset trading company with industry-leading capabilities across corporate and financial asset monetization, advisory, and valuation services.
  • Heritage Global focuses on identifying, valuing, acquiring and monetizing underlying tangible and intangible assets across twenty-eight global sectors.

Tanger Reports First Quarter Results

Retrieved on: 
Monday, May 6, 2019
Economy, Real estate investment trust, FFO, Finance, Valuation, BlackBerry Limited, Funds from operations, Companies of Canada, United States Generally Accepted Accounting Principles

In addition, FFO is frequently used by securities analysts, investors and other interested parties in the evaluation of REITs, many of which present FFO when reporting their results.

Key Points: 
  • In addition, FFO is frequently used by securities analysts, investors and other interested parties in the evaluation of REITs, many of which present FFO when reporting their results.
  • FFO has significant limitations as an analytical tool, and you should not consider it in isolation, or as a substitute for analysis of our results as reported under GAAP.
  • We compensate for these limitations by relying primarily on our GAAP results and using FFO only as a supplemental measure.
  • We compensate for these limitations by relying primarily on our GAAP results and using Portfolio NOI and Same Center NOI only as supplemental measures.

An Off Year Puts Asset Managers Under Renewed Stress

Retrieved on: 
Monday, May 6, 2019
Management accounting, Asset management, Valuation

The report, titled How Asset Managers Can Win in a Winner-Takes-All World is being released today.

Key Points: 
  • The report, titled How Asset Managers Can Win in a Winner-Takes-All World is being released today.
  • Sounding a call to action, the report also outlines optimal next steps for asset managers in their quests to stem the tide and gain or maintain competitive advantage.
  • According to the report, the asset management industry, after several years of stellar performance, found in 2018 that it had to adjust.
  • "However, asset managers may also consider more aggressive approaches, including leveraging advanced analytics, introducing products, moving into new locations, and merging with peers.

Rand Capital’s (NASDAQ:RAND) First Quarter 2019 Financial Results Support User-Friendly Phone Book LLC's Concerns Regarding East Transaction

Retrieved on: 
Friday, May 3, 2019
Communications, Advertising, Marketing, Economy, Finance, Money, Investment, Funds, Net asset value, South African rand, Valuation, Dividends, Financial capital

User-Friendly Phone Book, LLC (User-Friendly) announced today that it believes the first quarter financial results of Rand Capital Corporation (Rand) (NASDAQ:RAND) further supports liquidating the portfolio assets will provide more value to shareholders than the East Asset Management transaction.

Key Points: 
  • User-Friendly Phone Book, LLC (User-Friendly) announced today that it believes the first quarter financial results of Rand Capital Corporation (Rand) (NASDAQ:RAND) further supports liquidating the portfolio assets will provide more value to shareholders than the East Asset Management transaction.
  • In its earnings release of May 2, 2019, Rand reported an increase in net asset value (NAV) to $5.06 per share, highlighting the steeply discounted $3.00 per share purchase price being offered to East in the transaction.
  • Further, Rand management continued to state its view that liquidating the portfolio would yield less than $3.00 per share.
  • Managements statements appear to be driven more by a desire to retain their excessive compensation arrangements than serving the shareholders' interests.

BetterInvesting Magazine Releases July Stock To Study And Undervalued Stock Choices For Investors' Informational And Educational Use

Retrieved on: 
Thursday, May 2, 2019
Economy, Finance, Money, Stock market, Undervalued stock, Investment, Fundamental analysis, Stock, Investor, Valuation

"The committee selected Nucor for its historical operational excellence, reasonable valuation and potential benefits of capital expansion in the United States," said Adam Ritt, editor of BetterInvesting Magazine.

Key Points: 
  • "The committee selected Nucor for its historical operational excellence, reasonable valuation and potential benefits of capital expansion in the United States," said Adam Ritt, editor of BetterInvesting Magazine.
  • "For the Undervalued selection, the committee cited 3M's current reasonable valuation, dividend and opportunities for a recovery in the stock price over the next 18 months."
  • As stated, the BetterInvesting committee's Stock to Study and Undervalued Stock choices are for the informational and educational uses of investors and are not intended as investment recommendations.
  • BetterInvesting urges investors to educate themselves about the stock market so they can make informed decisions about stock purchases.