Last $18.01 USD
Change Today +0.58 / 3.33%
Volume 179.1K
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As of 8:04 PM 11/26/14 All times are local (Market data is delayed by at least 15 minutes).

american residential propert (ARPI) Key Developments

American Residential Properties, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

American Residential Properties, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, total revenue was $23.49 million against $11.07 million a year ago. Loss from continuing operations before equity in net income of unconsolidated ventures was $9.243 million against $4.64 million a year ago. Net loss attributable to common stockholders was $9.16 million or $0.28 per basic and diluted share against $4.52 million or $0.14 per basic and diluted share a year ago. FFO attributable to common stockholders was $2.95 million or $0.09 per basic and diluted share against $1.854 million or $0.06 per basic and diluted share a year ago. Core FFO attributable to common stockholders was $3.79 million or $0.12 per basic and diluted share against $2.150 million or $0.07 per basic and diluted share a year ago. For the nine months, total revenue was $61.69 million against $24.72 million a year ago. Loss from continuing operations before equity in net income of unconsolidated ventures was $24.633 million against $16.95 million a year ago. Net loss attributable to common stockholders was $24.44 million or $0.76 per basic and diluted share against $16.61 million or $0.65 per basic and diluted share a year ago. FFO attributable to common stockholders was $7.34 million or $0.22 per basic and diluted share against negative $2.668 million or $0.10 per basic and diluted share a year ago. Core FFO attributable to common stockholders was $9.59 million or $0.29 per basic and diluted share against $5.114 million or $0.20 per basic and diluted share a year ago.

American Residential Properties, Inc. to Report Q3, 2014 Results on Nov 03, 2014

American Residential Properties, Inc. announced that they will report Q3, 2014 results at 5:00 PM, Eastern Standard Time on Nov 03, 2014

American Residential Properties, Inc., Q3 2014 Earnings Call, Nov 04, 2014

American Residential Properties, Inc., Q3 2014 Earnings Call, Nov 04, 2014

American Residential Properties, Inc. Presents at Zelman and Associates 2014 Housing Summit, Sep-19-2014 11:45 AM

American Residential Properties, Inc. Presents at Zelman and Associates 2014 Housing Summit, Sep-19-2014 11:45 AM. Venue: Ritz-Carlton, Tysons Corner located at 1700 Tysons Boulevard, McLean, VA 22102, United States. Speakers: Stephen G. Schmitz, Chairman and Chief Executive Officer.

American Residential Properties, Inc. Completes its Securitization Transaction and Entered into a Loan Agreement

American Residential Properties Inc. on Aug. 26 completed its securitization transaction and entered into a loan agreement. The securitization deal involved the issuance and sale in a private offering of six classes of single-family rental pass-through certificates representing beneficial ownership interests in a loan entered into with German American Capital Corp. and secured by a portfolio of 2,876 single-family homes transferred to an indirect subsidiary of the company from its portfolio of single-family homes. Certain of the certificates were sold at a discount of about $1.7 million in the aggregate, resulting in gross proceeds from the offering of approximately $340.6 million. The gross proceeds were distributed to the company's operating partnership, American Residential Properties OP LP, and were used primarily to repay a portion of the company's outstanding senior secured revolving credit facility. Following such repayment, the outstanding borrowings under the credit facility were approximately $146 million on Aug. 26. Pursuant to the loan agreement, the company's subsidiary borrowed about $342.2 million. The two-year, floating-rate loan comprises six floating-rate components, each based on one-month LIBOR plus a fixed component spread. Interest on the loan is paid monthly. The initial loan maturity date is Sept. 9, 2016, and the subsidiary has the option to extend the loan for three successive one-year terms, under certain conditions. As part of certain lender requirements connected to the securitization transaction, the subsidiary entered into an interest rate cap agreement for the initial two-year term of the loan, with a LIBOR-based strike rate equal to 3.12%. Each class of pass-through certificate accrues interest at a rate based on one-month LIBOR plus a fixed-rate spread. The weighted average of the fixed-rate spreads is 2.00%. Accounting for the discount at which certain of the certificates were sold, and assuming the successful exercise of the three one-year extension options of a loan agreement and amortization of the discount over the resulting fully extended period, the effective weighted average of the fixed-rate spreads is 2.11%.

 

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