fortress investment grp-cl a
(FIG:New York)
fortress investment grp-cl a (FIG) Snapshot
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Open
$7.51
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Previous Close
$7.46
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Day High
$7.51
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Day Low
$7.26
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52 Week High
05/20/13 - $7.66
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52 Week Low
05/23/12 - $2.96
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Market Cap
3.5B
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Average Volume 10 Days
1.6M
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EPS TTM
$0.13
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Shares Outstanding
236.7M
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EX-Date
05/10/13
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P/E TM
55.8x
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Dividend
$0.24
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Dividend Yield
3.03%
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Related News
fortress investment grp-cl a (FIG) Related Businessweek News
fortress investment grp-cl a (FIG) Details
Fortress Investment Group LLC is a publicly owned investment manager. The firm provides its services to pooled investment vehicles, pension and profit sharing plans, corporations, institutional managed accounts and structured products, banking or thrift institutions, investment companies, charitable organizations, and state or municipal government entities. It launches and manages hedge funds, balanced mutual funds, and private equity funds. The firm invests in the public the private equity and alternative investment markets across the globe. It invests in distressed and undervalued assets and tangible & intangible assets such as real estate, capital assets, natural resources, and intellectual property. The firm’s alternative investments include investment in currency, commodity, real estate markets, and distressed real estate loan acquisitions. It employs value strategy to make its investments. The firm employs a fundamental analysis with bottom-up approach to create its investment portfolio. Fortress Investment Group LLC was founded in 1998 and is based in New York, New York with additional offices in United States, Europe, Asia, and Australia.
fortress investment grp-cl a (FIG) Top Compensated Officers
fortress investment grp-cl a (FIG) Key Developments
Bankia, SA. (CATS:BKIA) (Bankia) is expecting to receive binding bids for Bankia Habitat S.L.U. (Bankia Habitat) next week, daily Expansion quoted unnamed sources as saying. The buyer will acquire Bankia Habitat’s offices in Madrid and Valencia, the technology platform and 500 employees. The real estate assets and loan portfolio will remain in the hands of Bankia. The potential buyers include Morgan Stanley (NYSE:MS), Cerebrus Capital Management, L.P., Fortress Investment Group LLC (NYSE:FIG), Apollo Group Inc. (NasdaqGS:APOL), Oaktree Capital Group, LLC (NYSE:OAK) and TPG Capital, L.P.
Catalunya Banc, S.A. has put CatalunyaCaixa Inmobiliaria up for sale and attracted interest from eight international companies, Expansión reported on May 7, 2013. Fortress Investment Group LLC (NYSE:FIG), Apollo Global Management, LLC (NYSE:APO) and Cerberus Capital Management, L.P. have signaled an interest in purchasing CX Inmobiliaria, the news source said. The process is said to be at an early stage.
Fortress Investment Group LLC declared a first quarter 2013 dividend of $0.06 per dividend paying share. The dividend is payable on May 17, 2013 to Class A shareholders of record as of the close of business on May 14, 2013. The company reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported revenues of $244,355,000 compared to $171,658,000 a year ago. Operating income was $41,275,000 compared to $24,622,000 a year ago. Income before income taxes was $93,582,000 compared to $3,695,000 a year ago. Net income attributable to Class A shareholders was $14,329,000 or $0.05 Class A share, diluted compared to net loss attributable to Class A shareholders of $29,540,000 or $0.16 diluted Class A share a year ago. Pre-tax distributable earnings were over $100 million up from $57 million in the first quarter of 2012. The year-over-year increase was primarily due to higher incentive income and management fees earned from funds, partially offset by higher compensation related expenses. That's an increase of 75% over the first quarter last year. Key drivers of business, investment performance, capital raising and AUM growth, put in a strong position going forward. The company expects full year rate to be 6% to 10%, as equity-based deductions will continue to keep tax rate low through the end of 2013. The company feels optimistic about prospects for earnings growth and value creation in 2013 and beyond.
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| FIG:US | $7.26 USD | -0.20 | |
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Industry Analysis
FIG
Industry Average
| Valuation | FIG | Industry Range |
| Price/Earnings | 36.3x |
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| Price/Sales | 2.0x |
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| Price/Book | 2.7x |
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| Price/Cash Flow | 26.5x |
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| TEV/Sales | 3.1x |
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To contact FORTRESS INVESTMENT GRP-CL A, please visit www.fortress.com. Company data is provided by Capital IQ. Please use this form to report any data issues.
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