Last $20.00 USD
Change Today 0.00 / 0.00%
Volume 128.3K
FCE/A On Other Exchanges
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Exchange
New York
Berlin
New York
As of 12:17 PM 09/23/14 All times are local (Market data is delayed by at least 15 minutes).

forest city enterprises-cl a (FCE/A) Snapshot

Open
$19.91
Previous Close
$20.00
Day High
$20.12
Day Low
$19.88
52 Week High
09/3/14 - $21.54
52 Week Low
01/31/14 - $17.53
Market Cap
4.0B
Average Volume 10 Days
734.9K
EPS TTM
$0.11
Shares Outstanding
181.7M
EX-Date
12/16/08
P/E TM
174.0x
Dividend
--
Dividend Yield
--
Current Stock Chart for FOREST CITY ENTERPRISES-CL A (FCE/A)

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forest city enterprises-cl a (FCE/A) Details

Forest City Enterprises, Inc. acquires, owns, develops, and manages commercial and residential real estate and land in the United States. The company operates through three strategic business units: Commercial Group, Residential Group, and Land Development Group. The Commercial Group strategic business unit acquires, owns, develops, and operates regional malls, specialty and urban retail centers, office and life science buildings, and mixed-use projects, as well as operates Barclays Center, a sports and entertainment arena located in Brooklyn, New York. As of December 31, 2013, it owned interests in 83 completed rental properties, including 42 office properties, 16 regional malls, and 25 specialty retail centers. The Residential Group strategic business unit acquires, owns, develops, leases, and operates residential rental properties, including upscale urban properties, middle-market apartments, and adaptive re-use developments, as well as develops and manages military family housing. As of the above date, its operating portfolio consisted of 32,907 apartment units in 117 properties; and 14,104 military housing units under management in various stages of operations and/or redevelopment, as well as 6 apartment communities under construction. The Land Development Group strategic business unit acquires and sells both land and developed lots to residential, commercial, and industrial customers. Forest City Enterprises, Inc. was founded in 1920 and is headquartered in Cleveland, Ohio.

2,547 Employees
Last Reported Date: 02/27/14
Founded in 1920

forest city enterprises-cl a (FCE/A) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $553.8K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $507.7K
Executive Vice President, Chairman of Forest ...
Total Annual Compensation: $461.5K
Executive Vice President, Director and Chief ...
Total Annual Compensation: $461.5K
Executive Vice President, Director and Presid...
Total Annual Compensation: $674.0K
Compensation as of Fiscal Year 2013.

forest city enterprises-cl a (FCE/A) Key Developments

Forest City Enterprises Inc. Presents at BMO 9th Annual North American Real Estate Conference, Sep-15-2014 08:45 AM

Forest City Enterprises Inc. Presents at BMO 9th Annual North American Real Estate Conference, Sep-15-2014 08:45 AM. Venue: Four Seasons Hotel, Chicago, Illinois, United States.

Forest City Enterprises Inc. Announces Expansion Plans

Forest City Enterprises Inc. announced that the company ended the quarter with 7 projects under construction and a total cost of $296 million at full consolidation and $248 million at the company's pro rata share. Projects currently under construction include apartment projects in San Francisco; Dallas; New Haven, Connecticut, all of which are expected to open in the third quarter, as well as B2 BKLYN, which opens in the fourth quarter of 2015. Two of the company's regional malls, Antelope Valley Mall in Palmdale, California, and Galleria at Sunset near Las Vegas are in the midst of expansion programs that are bringing new tenants and amenities to these centers. Antelope's expansion will be anchored by a new Dick's Sporting goods, and an expanded H&M that is expected to be completed by the fourth quarter of this year. The expansion at the Galleria at Sunset is restaurant-driven that will include Bravo (sic) [Brio], Sugar Factory and Larsen's Grill. It's expected to be completed in the second quarter of 2015. Also under construction is 300 Mass Ave., a 246,000-square-foot fully leased office building at University Park at MIT in Cambridge. It is expected to be completed in the first quarter of 2016 residential starts over the next 12 to 18 months will represent approximately 3,800 rental residential units with a total cost of just over $1.7 billion or approximately $500 million at the company's pro rata share. The company also expects to start a smaller number of commercial projects including Cornell Tech at Roosevelt Island in New York City.

Forest City Enterprises, Inc. Announces Unaudited Consolidated Financial Results for the Three and Six Months Ended June 30, 2014; Announces Non-Cash Impairments of Assets

Forest City Enterprises Inc. announced unaudited consolidated financial results for the three and six months ended June 30, 2014. Consolidated revenues for the three months ended June 30, 2014, were $229.6 million, compared with $277.9 million for the second quarter of 2013. Operating FFO for the three months ended June 30, 2014 was $60.2 million, a 68% increase compared with $35.8 million for the three months ended June 30, 2013. Positive factors impacting second-quarter 2014 Operating FFO, compared with the second quarter of 2013, included reduced corporate activities of $8.4 million (of which $5.0 million was reduced corporate interest expense), increased net operating income from the company's mature portfolio of $6.4 million, higher land sales at Stapleton in Denver of $5.3 million, decreased interest expense on the mature portfolio of $4.7 million, and increased Operating FFO from new property openings of $3.5 million. In addition, the company had increased Operating FFO from other sources of $10.3 million, driven primarily by reduced expensed overhead as the company has activated entitled development opportunities. These positive factors were partially offset by reduced Operating FFO from properties sold or joint ventured of $14.2 million. For the three months ended June 30, 2014, the net loss attributable to Forest City Enterprises Inc. was $93.0 million, compared with a net loss of $34.9 million for the second quarter of 2013. The second-quarter 2014 net loss attributable to common shareholders was $93.0 million, or $0.47 per share, compared with a net loss of $34.9 million, or $0.18 per share for the same period in 2013. The net loss for the quarter was impacted by $129.8 million in non-cash impairments of assets in non-core markets. For the first half of 2014 Operating FFO was $108.7 million, compared with $69.9 million for the six months ended June 30, 2013. Total FFO for the three months ended June 30, 2014 was $53.1 million, or $0.24 per share, compared with $64.1 million, or $0.30 per share, for the three months ended June 30, 2013. Year-to-date consolidated revenues were $479.2 million, compared with $547.9 million for the six months ended June 30, 2013. The year-over-year variance for both the second quarter and year to date was primarily related to the company's 2013 regional mall joint venture with QIC, which resulted in the change from full consolidation accounting to equity method accounting for seven of the malls included in the joint venture. Year-to-date FFO was $108.5 million, compared with $119.6 million for the six months ended June 30, 2013. Per-share amounts are on a fully diluted basis. For the first six months of 2014, the net loss attributable to Forest City Enterprises Inc. was $77.5 million, compared with a net loss of $54.5 million for the six months ended June 30, 2013. In addition to the factors mentioned previously related to Operating FFO and FFO, the net loss variance in the second quarter was negatively impacted by higher non-cash impairment of depreciable rental properties, net of tax, of $78.3 million. The year-to-date net loss attributable to common shareholders was $77.5 million, or $0.39 per share, compared with a net loss of $54.7 million, or $0.29 per share for the six months ended June 30, 2013. Per-share amounts are on a fully diluted basis. The company also announced that the net loss for the quarter was impacted by $129.8 million in non-cash impairments of assets in non-core markets.

 

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Price/Sales 3.8x
Price/Book 2.6x
Price/Cash Flow 17.3x
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