Real Estate https://www.benzinga.com/views/taxonomy/term/142057 en Peak Commercial Sells Two Multi-Family Properties in Prominent San Fernando Valley Neighborhoods for Record-Setting Per Unit Price https://www.benzinga.com/pressreleases/17/11/g10808234/peak-commercial-sells-two-multi-family-properties-in-prominent-san-fer <link type="text/css" rel="stylesheet" href="http://www.globenewswire.com/styles/gnw_nitf.css" /> <p align="left">WOODLAND HILLS, Calif., Nov. 17, 2017 (GLOBE NEWSWIRE) -- The <a href="https://www.globenewswire.com/Tracker?data=AV8VuCxv6znLhyFmg6-Wkg5VFUbFl88OQEJXhVC6ldfp6-qUR1KN3jdIi681GoPmwHFZF9USsCL67iNQyxjeqZdgvcRz8_-zpYMsjFIO4NU=" rel="nofollow" target="_blank" rel="nofollow">Flashman Investment Group</a> (FIG), of the <a href="https://www.globenewswire.com/Tracker?data=2DbjGB2HRbmGeWbiDRzvquMtwfOqi2LtVs36Bolh36WvxRGS944QZrzjlQdTJKhlniBTlOTJQkQZrSkiA5aFC8HlavrnP7Fm3y1cyhzqvgYh85UerE3YnXJkArGmMDP_" rel="nofollow" target="_blank" rel="nofollow">Peak Commercial</a> Real Estate brokerage, has sold two multi-family properties in a prominent pocket of the Sherman Oaks, CA  and Studio City, CA neighborhoods for a record-setting per unit price. The Sherman Oaks property is a 15-unit apartment building located at 4427 Woodman Avenue, which sold for more than $286,000 per door. This is the highest price per door for rent controlled buildings in the Sherman Oaks area, north of Ventura Boulevard. The Studio City property is a four-unit apartment building located at ...</p><p><a href=https://www.benzinga.com/pressreleases/17/11/g10808234/peak-commercial-sells-two-multi-family-properties-in-prominent-san-fer alt=Peak Commercial Sells Two Multi-Family Properties in Prominent San Fernando Valley Neighborhoods for Record-Setting Per Unit Price>Full story available on Benzinga.com</a></p> News Contracts Press Releases Real Estate News Contracts Press Releases Real Estate Benzinga Sat, 18 Nov 2017 00:21:35 +0000 Globe Newswire 10808234 at https://www.benzinga.com Level Brands Announces Closing of $12 Million Initial Public Offering https://www.benzinga.com/pressreleases/17/11/g10807818/level-brands-announces-closing-of-12-million-initial-public-offering <link type="text/css" rel="stylesheet" href="http://www.globenewswire.com/styles/gnw_nitf.css" /> <p>CHARLOTTE, N.C.,, Nov. 17, 2017 (GLOBE NEWSWIRE) -- Level Brands, Inc. (NYSEAMERICAN:LEVB) (&#34;Level Brands&#34; or the &#34;Company&#34;), an innovative marketing and licensing company that provides bold, unconventional and socially responsible branding for leading businesses, today announces that is has closed its initial public offering of 2,000,000 shares of common stock at a public offering price of $6.00 per share for gross proceeds of $12 million. Level Brands expects its common stock to begin trading on NYSE American under the ticker symbol &#34;LEVB&#34; on November 17, 2017.</p> <p>&#34;We are delighted that Level Brands, Inc. has chosen to list on NYSE American,&#34; said John Tuttle, NYSE Global Head of Listings. &#34;We look forward to partnering with Level Brands as it continues to grow and support socially conscious consumer lifestyle, beauty and entertainment companies. &#34;Joseph Gunnar &amp; Co., LLC acted as the sole book-running manager for the offering. TriPoint Global Equities, LLC, working with its online division BANQ<sup>®</sup> (<a href="https://www.globenewswire.com/Tracker?data=1f25dJXz1mB7oegGiBbuPlIrcmcJsIG6IAjvrF2lU2JIeJfUfhNknaGrw0cQ-7GdNGMYcxvwPFbrtTmmhxaRfQ==" rel="nofollow" target="_blank" rel="nofollow">www.banq.co</a>), ...</p><p><a href=https://www.benzinga.com/pressreleases/17/11/g10807818/level-brands-announces-closing-of-12-million-initial-public-offering alt=Level Brands Announces Closing of $12 Million Initial Public Offering>Full story available on Benzinga.com</a></p> LEVB Press Releases General Real Estate LEVB Press Releases General Real Estate Benzinga Fri, 17 Nov 2017 22:19:09 +0000 Globe Newswire 10807818 at https://www.benzinga.com A Big REIT ETF Is Changing Indexes https://www.benzinga.com/trading-ideas/long-ideas/17/11/10801377/a-big-reit-etf-is-changing-indexes <p>Earlier this year, Vanguard proposed to investors an index change for the popular <b>Vanguard REIT ETF</b> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vnq#NYSE">VNQ</a>) and related index funds. VNQ is the largest exchange traded fund providing exposure to real estate investment trusts.</p> <p>Pennsylvania-based Vanguard, the second-largest U.S. ETF issuer, said shareholders have approved the index swap. VNQ, the Vanguard REIT Index Fund and Vanguard Variable Insurance Fund-REIT Index Portfolio will switch to the MSCI US Investable Market Real Estate 25/50 Index.</p> <p>That index &ldquo;includes real estate management and development companies in addition to real estate investment trusts (REITs), offering broader exposure to the real estate market. Shareholders also approved a proposal to reclassify ...</p><p><a href=https://www.benzinga.com/trading-ideas/long-ideas/17/11/10801377/a-big-reit-etf-is-changing-indexes alt=A Big REIT ETF Is Changing Indexes>Full story available on Benzinga.com</a></p> AMT CCI Long Ideas REIT SBAC Sector ETFs vanguard VNQ WY Top Stories Trading Ideas ETFs Real Estate VNQ US9229085538 SBAC US78388J1060 AMT US0299122012 CCI US2282271046 WY US9621661043 Long Ideas Sector ETFs REIT Top Stories Trading Ideas ETFs Real Estate Benzinga Fri, 17 Nov 2017 18:18:26 +0000 ETF Professor 10801377 at https://www.benzinga.com Choose The Winners of the Coal Harbour Photo Contest and Give Away $2,000 in Cash Prizes https://www.benzinga.com/pressreleases/17/11/g10801430/choose-the-winners-of-the-coal-harbour-photo-contest-and-give-away-2-0 <link type="text/css" rel="stylesheet" href="http://www.globenewswire.com/styles/gnw_nitf.css" /> <p>VANCOUVER, British Columbia, Nov. 16, 2017 (GLOBE NEWSWIRE) -- The first annual Coal Harbour Photo Contest, sponsored by Sam Huang PREC, is now open for public voting. There are so many beautiful photos to choose from. Now we need your vote to give the prize money to the right photographers.<br /></p> <p>Who are the right photographers? They&#039;re the ones who took the most beautiful, the most distinctive photos, that highlight the unique character of Coal Harbour.</p> <p>There are submissions from aspiring and professional photographers alike - sunrises, sunsets, full moon shots, city ...</p><p><a href=https://www.benzinga.com/pressreleases/17/11/g10801430/choose-the-winners-of-the-coal-harbour-photo-contest-and-give-away-2-0 alt=Choose The Winners of the Coal Harbour Photo Contest and Give Away $2,000 in Cash Prizes>Full story available on Benzinga.com</a></p> Press Releases Real Estate Press Releases Real Estate Benzinga Thu, 16 Nov 2017 22:09:43 +0000 Globe Newswire 10801430 at https://www.benzinga.com McGuire Real Estate Wins Its Fourth Consecutive Best And Brightest Companies to Work For® Award https://www.benzinga.com/pressreleases/17/11/g10792966/mcguire-real-estate-wins-its-fourth-consecutive-best-and-brightest-com <link type="text/css" rel="stylesheet" href="http://www.globenewswire.com/styles/gnw_nitf.css" /> <p align="justify">SAN FRANCISCO, Nov. 15, 2017 (GLOBE NEWSWIRE) -- McGuire Real Estate won the <a href="http://mcgu.co/101BB2017" rel="nofollow" target="_blank" rel="nofollow"><em>San Francisco Bay Area&#039;s Best and Brightest Companies to Work For</em>® award</a> presented by the National Association for Business Resources (NABR) for the 4th year in a row. This award recognizes McGuire Real Estate as a company that excels at employee relations, uses innovation to motivate employees, implements creative compensation programs and more.</p> <table border="0"> <tr> <td> <table width="305" cellspacing="6" class="gnw_news_media_box" cellpadding="1" border="0"> <tr> <td class="gnw_media_bgcolor"> <table width="100%" align="center" border="0" cellspacing="0" cellpadding="0"> <tr> <td colspan="2"><a href="https://www.globenewswire.com/NewsRoom/AttachmentNg/29b21b37-008e-4bf6-bcef-d010babda7a1/en" rel="nofollow"><img src="https://resource.globenewswire.com/Resource/Download/29b21b37-008e-4bf6-bcef-d010babda7a1?size=2" border="0" width="300" height="200" alt="San Francisco Bay Area&#39;s Best &amp; Brightest Companies to Work For - 2017 Winners" /></a></td> </tr> <tr> <td class="gnw_media_caption" width="5"></td> <td align="left" class="gnw_media_caption">McGuire Wins 2017 Bay Area&#039;s Best &amp; Brightest Companies to Work For Award</td> </tr> </table> </td> </tr> </table> <p> <br /><br /> </p></td> </tr> </table> <p align="justify">McGuire Real Estate and the other honorees practice innovative strategies and represent best practices in industries as diverse as energy, medical, financial services and nonprofit.</p> <p align="justify">"Our thoughtful and dedicated approach to maintaining an engaging and rewarding company culture is at the root of what allows us to implement the best ...</p><p><a href=https://www.benzinga.com/pressreleases/17/11/g10792966/mcguire-real-estate-wins-its-fourth-consecutive-best-and-brightest-com alt=McGuire Real Estate Wins Its Fourth Consecutive Best And Brightest Companies to Work For® Award>Full story available on Benzinga.com</a></p> Press Releases Real Estate Press Releases Real Estate Benzinga Wed, 15 Nov 2017 20:28:12 +0000 Globe Newswire 10792966 at https://www.benzinga.com FTI Consulting Survey Finds Mall Landlords Are Out of Sync with Retailers' Biggest Concerns https://www.benzinga.com/pressreleases/17/11/g10788892/fti-consulting-survey-finds-mall-landlords-are-out-of-sync-with-retail <link type="text/css" rel="stylesheet" href="http://www.globenewswire.com/styles/gnw_nitf.css" /> <p>WASHINGTON, Nov. 15, 2017 (GLOBE NEWSWIRE) -- FTI Consulting, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCN#NYSE" rel="nofollow">FCN</a>) today released a survey that finds a significant gap in the perceptions of mall and shopping center landlords and their retailer tenants about the role of brick and mortar stores, as well as retailers&#039; top business concerns.<br /></p> <p>According to the <a href="https://www.globenewswire.com/Tracker?data=hyDFdAVDDQrXR6E4pTolCgHP1aNdQg9uGof1zpZ5kvjjWlfQ03KTMT1XziI8YX9PKOEKutNMIJzndCkB--4bZ-Tb7kipBjvaqF7syYeSo66Rn5bolk4JSE48g7dqN7qp3aDbdN2Z9goBUbcz2-zPyq6grXsmlvAUptOopDBtRcSCD_ETcsvfM324aiIIpZJOJc-hpeQl3Tbg_ZXNyN-zAg==" rel="nofollow" target="_blank" rel="nofollow"><em>FTI Consulting Retail Real Estate Beat</em></a>, just 61 percent of retailers agree or strongly agree that new stores are critical to their sales growth, while as many as 93 percent of landlords agree or strongly agree. Conversely, only 33 percent of landlords, compared with 73 percent of retailers, agree or strongly agree that shoppers require a more personalized in-store experience.  </p> <p>When it comes to brick and mortar stores, landlords and retailers also view real estate benefits differently. Landlords believe that being located near other high-traffic retailers (87 percent) and providing a compelling architectural design and physical environment (73 percent) are the two most important benefits they could offer a retail tenant. </p> <p>Meanwhile, only 66 percent of retailers surveyed believe being located near other high-traffic retailers is the most important priority for their brick and mortar locations, followed by convenient parking (52 percent). Only 44 percent of retailers believe a compelling architectural design and physical environment are important. The biggest disparity in priorities is found in the value of flexible store configuration – 40 percent of retailers say this is important compared to only 10 percent of landlords.</p> <p>"While it may not come as a total surprise that landlords place a greater value on the physical location of the store than retailers do, these variations in perceptions present a real opportunity for ...</p><p><a href=https://www.benzinga.com/pressreleases/17/11/g10788892/fti-consulting-survey-finds-mall-landlords-are-out-of-sync-with-retail alt=FTI Consulting Survey Finds Mall Landlords Are Out of Sync with Retailers&#039; Biggest Concerns>Full story available on Benzinga.com</a></p> FCN Analyst Ratings Press Releases Real Estate FCN US3029411093 Analyst Ratings Press Releases Real Estate Benzinga Wed, 15 Nov 2017 12:30:00 +0000 Globe Newswire 10788892 at https://www.benzinga.com PulteGroup Downgraded By Buckingham After 70% Gain https://www.benzinga.com/analyst-ratings/analyst-color/17/11/10781131/pultegroup-downgraded-by-buckingham-after-70-gain <p><strong>PulteGroup, Inc. </strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/phm#NYSE">PHM</a>) shares have gained over 70 percent amid strong <a href="https://seekingalpha.com/article/4122897-u-s-real-estate-will-heat-2018"> housing market fundamentals </a> and positive broader market sentiment.</p> <p>The rally has pushed some wary sell-side analysts to the sidelines, given the view that the risk-reward proposition is now more balanced.</p> <h3> <strong>The Analyst</strong></h3> <p>Buckingham Research analyst <a href="https://www.tipranks.com/analysts/mark-weintraub">Mark Weintraub</a> <a href=" https://www.benzinga.com/analyst-ratings/upgrades/17/11/10779689/benzingas-top-upgrades-downgrades-for-november-14-2017"> downgraded shares </a> of PulteGroup from Buy to Neutral and upped his price target from $31 to $33.</p> <h3> <strong>The Thesis</strong></h3> <p>PulteGroup&#39;s 70 percent gain year-to-date stans in contrast to a 45 percent increase across a broad group of 20 publicly traded builders and the 15 percent rally seen ...</p><p><a href=https://www.benzinga.com/analyst-ratings/analyst-color/17/11/10781131/pultegroup-downgraded-by-buckingham-after-70-gain alt=PulteGroup Downgraded By Buckingham After 70% Gain>Full story available on Benzinga.com</a></p> Analyst Color Buckingham Research Mark Weintraub PHM Downgrades Price Target Analyst Ratings Real Estate PHM US7458671010 Analyst Color Downgrades Price Target Analyst Ratings Real Estate Benzinga Tue, 14 Nov 2017 19:13:28 +0000 Shanthi Rexaline 10781131 at https://www.benzinga.com Sonnenblick-Eichner Company Arranges $35,400,000 in Financing Secured by Three Best Western Hotels in California https://www.benzinga.com/pressreleases/17/11/g10782726/sonnenblick-eichner-company-arranges-35-400-000-in-financing-secured-b <link type="text/css" rel="stylesheet" href="http://www.globenewswire.com/styles/gnw_nitf.css" /> <p align="justify">BEVERLY HILLS, Calif., Nov. 14, 2017 (GLOBE NEWSWIRE) -- Sonnenblick-Eichner Company has arranged three separate long-term fixed rate loans totaling $35.4 million for the refinancing of Best Western Plus Hotels located in Lake Tahoe, Sacramento and San Diego, California.<br /></p> <table border="0"> <tr> <td> <table width="305" cellspacing="6" class="gnw_news_media_box" cellpadding="1" border="0"> <tr> <td class="gnw_media_bgcolor"> <table width="100%" align="center" border="0" cellspacing="0" cellpadding="0"> <tr> <td colspan="2"><a href="https://www.globenewswire.com/NewsRoom/AttachmentNg/3295742e-dd3c-416c-93d0-1fe2da05df7e/en" rel="nofollow"><img src="https://resource.globenewswire.com/Resource/Download/3295742e-dd3c-416c-93d0-1fe2da05df7e?size=2" border="0" width="300" height="200" alt="Best Western Truckee-Tahoe" /></a></td> </tr> <tr> <td class="gnw_media_caption" width="5"></td> <td align="left" class="gnw_media_caption">Sonnenblick-Eichner Company Arranges $35.4 Million in Financing Secured by Three Best Western Hotels in California</td> </tr> </table> </td> </tr> </table> <p> <br /><br /> </p></td> </tr> </table> <p>A photo accompanying this announcement is available at <a href="http://www.globenewswire.com/NewsRoom/AttachmentNg/3295742e-dd3c-416c-93d0-1fe2da05df7e" rel="nofollow" target="_blank" rel="nofollow">http://www.globenewswire.com/NewsRoom/AttachmentNg/3295742e-dd3c-416c-93d0-1fe2da05df7e</a></p> <p align="justify">Representing a long-time Southern California-based developer and operator of hospitality properties, Vista Investments LLC, Sonnenblick-Eichner Company secured $15 million in first mortgage debt on the 100-room Best Western Plus Truckee-Tahoe hotel and a separate non-cross-collateralized $7 million loan on the 105-room Best Western Plus Rancho Cordova in the Sacramento metro area. After acquiring the Tahoe property in 2013, the borrower reflagged the hotel as a Best Western Plus following a two-year multi-million dollar renovation.  The Best Western Rancho Cordova has undergone several renovations ...</p><p><a href=https://www.benzinga.com/pressreleases/17/11/g10782726/sonnenblick-eichner-company-arranges-35-400-000-in-financing-secured-b alt=Sonnenblick-Eichner Company Arranges $35,400,000 in Financing Secured by Three Best Western Hotels in California>Full story available on Benzinga.com</a></p> Press Releases General Real Estate Press Releases General Real Estate Benzinga Tue, 14 Nov 2017 18:33:16 +0000 Globe Newswire 10782726 at https://www.benzinga.com Historic Home Updated With Today's Latest Technologies https://www.benzinga.com/pressreleases/17/11/g10781718/historic-home-updated-with-todays-latest-technologies <link type="text/css" rel="stylesheet" href="http://www.globenewswire.com/styles/gnw_nitf.css" /> <p align="justify">BRENTWOOD, Calif., Nov. 14, 2017 (GLOBE NEWSWIRE) -- Third generation Bay Area builders and media personalities, James and Morris Carey – of Carey Brothers Remodeling – today announced the upcoming completion and total restoration of a vintage residence in Old Town Brentwood, California.<br /></p> <p>Recognized as one of the oldest buildings in the city, the 111-year old home located at 604 Second street is a catalog ordered kit-type structure, originally built around 1906 in a nearby coal and copper mining camp and then moved intact to its current location about five years later. </p> <p>Starting with a modest little 1,177 sq. ft. bungalow that was in total disrepair, second-generation homeowners, Robin and Mike McClellan, prepared for a top-to-bottom inside/outside traditional restoration to preserve a bit of family history.</p> <p>But James and Morris Carey also saw it as a unique opportunity to blend vintage turn of the century architecture and authentic original appearances with an unbelievable array of today&#039;s latest home improvement technologies.</p> <p>"While the McClellans worked with our Carey Bros Remodeling designer, Carol Carey, carefully selecting products and materials," notes James Carey, "my brother and I began almost a full year of demolition, construction and installing their selections to bring it all together."</p> <p>"In the process, we also added approximately 400 square feet of living space… with another bedroom and bath," Carey states, "and a 960 square foot four bay detached garage and workshop to replace the old single car garage."</p> <p>Today, the fully restored ...</p><p><a href=https://www.benzinga.com/pressreleases/17/11/g10781718/historic-home-updated-with-todays-latest-technologies alt=Historic Home Updated With Today&#039;s Latest Technologies>Full story available on Benzinga.com</a></p> lifestyle Press Releases Real Estate Press Releases Real Estate Benzinga Tue, 14 Nov 2017 17:00:00 +0000 Globe Newswire 10781718 at https://www.benzinga.com Primero Announces Sale of Cerro Del Gallo Project https://www.benzinga.com/pressreleases/17/11/m10777927/primero-announces-sale-of-cerro-del-gallo-project <p><html xmlns="http://www.w3.org/1999/xhtml" xmlns="http://www.w3.org/1999/xhtml"><head xmlns="http://www.w3.org/1999/xhtml"><title xmlns="http://www.w3.org/1999/xhtml">Primero Announces Sale of Cerro Del Gallo Project</title></head><body xmlns="http://www.w3.org/1999/xhtml"></body></html></p> <h1 xmlns="http://www.w3.org/1999/xhtml"> Primero Announces Sale of Cerro Del Gallo Project<br /> </h1> <div xmlns="http://www.w3.org/1999/xhtml" class="mw_release"> <p xmlns="http://www.w3.org/1999/xhtml"><span xmlns="http://www.w3.org/1999/xhtml" class="mw_region">TORONTO, ON</span><span xmlns="http://www.w3.org/1999/xhtml">--(Marketwired - November 14, 2017) - </span></p> <p xmlns="http://www.w3.org/1999/xhtml" style="text-align:left"><em xmlns="http://www.w3.org/1999/xhtml">(Please note that all dollar amounts in this news release are </em><em xmlns="http://www.w3.org/1999/xhtml">expressed in U.S. dollars</em> <em xmlns="http://www.w3.org/1999/xhtml">unless otherwise indicated.)</em></p> <p xmlns="http://www.w3.org/1999/xhtml"><strong xmlns="http://www.w3.org/1999/xhtml">Primero Mining Corp.</strong> (&#34;Primero&#34; or the &#34;Company&#34;) <span xmlns="http://www.w3.org/1999/xhtml" class="mw_ticker">(TSX:<a class="ticker" href="https://www.benzinga.com/stock/P#TSX" rel="nofollow">P</a>)</span> today announced that the Company has entered into an agreement (the &#34;Agreement&#34;) with Argonaut Gold Inc. <span xmlns="http://www.w3.org/1999/xhtml" class="mw_ticker">(TSX:<a class="ticker" href="https://www.benzinga.com/stock/AR#TSX" rel="nofollow">AR</a>)</span> (&#34;Argonaut&#34;) to sell its Cerro del Gallo development project (the &#34;Project&#34;) located in the state of Guanajuato in central Mexico (the &#34;Transaction&#34;).</p> <p xmlns="http://www.w3.org/1999/xhtml">Under the terms of the Agreement, Argonaut will acquire all of the issued and outstanding shares of San Anton Resource Corporation, the indirect owner of the Project, from Primero. In exchange, Primero will receive consideration of $15 million in cash. </p> <p xmlns="http://www.w3.org/1999/xhtml">Primero expects to use the proceeds from the Transaction to reduce the Company&#39;s total outstanding debt position. The Transaction is subject to customary closing conditions and is expected to close by the end of this month. Scotiabank acted as financial advisor to Primero.</p> <p xmlns="http://www.w3.org/1999/xhtml"><strong xmlns="http://www.w3.org/1999/xhtml">About Primero</strong></p> <p xmlns="http://www.w3.org/1999/xhtml">Primero Mining Corp. is a Canadian-based precious metals producer that owns 100% of the San Dimas gold-silver mine and the Cerro del Gallo gold-silver-copper development project in Mexico.</p> <p xmlns="http://www.w3.org/1999/xhtml" align="left">Primero&#39;s website is <a xmlns="http://www.w3.org/1999/xhtml" href="http://ctt.marketwire.com/?release=11G147740-001&amp;id=12404434&amp;type=0&amp;url=http%3a%2f%2fwww.primeromining.com" rel="nofollow" rel="nofollow">www.primeromining.com</a>. </p> <p xmlns="http://www.w3.org/1999/xhtml"><strong xmlns="http://www.w3.org/1999/xhtml">CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION</strong></p> <p xmlns="http://www.w3.org/1999/xhtml">This news release contains &#34;forward-looking statements&#34;, within the meaning of applicable Canadian and US securities legislation, concerning the business and ...</p></div><p><a href=https://www.benzinga.com/pressreleases/17/11/m10777927/primero-announces-sale-of-cerro-del-gallo-project alt=Primero Announces Sale of Cerro Del Gallo Project>Full story available on Benzinga.com</a></p> TSX:AR TSX:P Press Releases Real Estate TSX:P TSX:AR Press Releases Real Estate Benzinga Tue, 14 Nov 2017 12:00:00 +0000 Marketwired 10777927 at https://www.benzinga.com Retail Opportunity Investments Corp. Agrees to Sell $250 Million of Senior Unsecured Notes Due 2027 https://www.benzinga.com/pressreleases/17/11/g10770239/retail-opportunity-investments-corp-agrees-to-sell-250-million-of-seni <link type="text/css" rel="stylesheet" href="http://www.globenewswire.com/styles/gnw_nitf.css" /> <p align="justify">SAN DIEGO, Nov. 13, 2017 (GLOBE NEWSWIRE) -- Retail Opportunity Investments Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROIC#NASDAQ" rel="nofollow">ROIC</a>) announced today that it has agreed to sell $250 million principal amount of 4.19% Senior Unsecured Notes in a private placement which represented a spread of 185 basis points over the 10-year U.S. Treasury Yield at the time of pricing. ROIC expects to issue the notes in December 2017. The notes will mature on the ten year anniversary of their issuance.<br /></p> <p align="justify">Proceeds from the financing will be used to repay amounts outstanding under ROIC&#039;s $600 million unsecured revolving credit facility and for general corporate purposes.</p> <p align="justify">The Senior Unsecured Notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the &#34;Act&#34;) or any state securities laws and may not ...</p><p><a href=https://www.benzinga.com/pressreleases/17/11/g10770239/retail-opportunity-investments-corp-agrees-to-sell-250-million-of-seni alt=Retail Opportunity Investments Corp. Agrees to Sell $250 Million of Senior Unsecured Notes Due 2027>Full story available on Benzinga.com</a></p> ROIC Press Releases Real Estate ROIC US76131N1019 Press Releases Real Estate Benzinga Mon, 13 Nov 2017 14:25:00 +0000 Globe Newswire 10770239 at https://www.benzinga.com Hyatt Could Return $1.9 Billion To Shareholders, Analyst Says https://www.benzinga.com/analyst-ratings/analyst-color/17/11/10763984/hyatt-could-return-1-9-billion-to-shareholders-analyst- <p><strong>Hyatt Hotels Corporation </strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/h#NYSE">H</a>) has always pursued the policy of asset recycling: selling properties in order to buy hotels in high-value areas.</p> <p>In its third-quarter&nbsp;<a href="http://newsroom.hyatt.com/news-releases?item=123617">earnings report </a> released Nov. 2, the <a href="https://www.benzinga.com/news/17/01/8919295/hyatt-ceo-we-are-looking-beyond-hotels-in-2017"> company </a> said it made a minority investment in Oasis Luxury Rentals and bought the Exhale brand, while it sold Royal Palms Resort and Spa in Phoenix and Hyatt Regency Scottsdale Resort &amp; Spa at Gainey Ranch for $305 million.</p> <h3> <strong>The Analyst</strong></h3> <p>Berenberg analyst <a href="https://www.tipranks.com/analysts/stuart-gordon">Stuart Gordon</a> issued an upgrade note on Hyatt Hotels on Thursday.</p> <h3> <strong>The Rating</strong></h3> <p>Gordon<a href="https://www.benzinga.com/analyst-ratings/upgrades/17/11/10763773/benzingas-top-upgrades-downgrades-for-november-10-2017">&nbsp;upgraded shares </a> of Hyatt Hotels from Hold to Buy and upped ...</p><p><a href=https://www.benzinga.com/analyst-ratings/analyst-color/17/11/10763984/hyatt-could-return-1-9-billion-to-shareholders-analyst- alt=Hyatt Could Return $1.9 Billion To Shareholders, Analyst Says>Full story available on Benzinga.com</a></p> Analyst Color Berenberg H Stuart Gordon Upgrades Price Target Analyst Ratings Real Estate H US4485791028 Analyst Color Upgrades Price Target Analyst Ratings Real Estate Benzinga Fri, 10 Nov 2017 16:54:45 +0000 Shanthi Rexaline 10763984 at https://www.benzinga.com 3 REITs To Get Bullish On In 2018 https://www.benzinga.com/analyst-ratings/analyst-color/17/11/10757353/3-reits-to-get-bullish-on-in-2018 <p>UBS has named the <a href="http://www.benzinga.com/analyst-ratings/analyst-color/17/01/8883129/deutsche-banks-2017-reit-winners-and-losers">real estate investment trusts</a>&nbsp;<strong>AvalonBay Communities Inc </strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/avb#NYSE">AVB</a>), <strong> Federal Realty Investment Trust </strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/frt#NYSE">FRT</a>) and <strong> Kilroy Realty Corp </strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/krc#NYSE">KRC</a>) as top picks.</p> <p>&quot;Post 3Q, we are now more positive on the multifamily and shopping center REITs and recommend investors Overweight both subsectors,&quot; UBS said in a Thursday note.</p> <p>Despite lowering the sub-sector view on office REITs to Market-weight, given less positive near-term catalysts, UBS said it continues to maintain Kilroy as a top pick.</p> <h3> <strong>The Analyst</strong></h3> <p>UBS analyst <a href="https://www.tipranks.com/analysts/nicholas-yulico">Nick Yulico</a> offered his take on the REIT sector.</p> <h3> <strong>The Rating</strong></h3> <p>UBS upgraded shares of <a href="https://www.benzinga.com/analyst-ratings/analyst-color/17/06/9641823/avalonbay-viewed-favorably-amid-big-opportunity-in-a-mar"> AvalonBay </a> from Neutral to Buy and increased its price target from $190 to $206. The firm also upgraded Federal Realty from a Neutral to Buy and upped its price target ...</p><p><a href=https://www.benzinga.com/analyst-ratings/analyst-color/17/11/10757353/3-reits-to-get-bullish-on-in-2018 alt=3 REITs To Get Bullish On In 2018>Full story available on Benzinga.com</a></p> Analyst Color avalonbay communities AVB CPT EQR Federal Realty Investment Trust FRT Kilroy Realty Corp KRC Nick Yulico REIT UBS UDR Upgrades Price Target Reiteration Analyst Ratings Real Estate AVB US0534841012 CPT US1331311027 EQR US29476L1070 FRT US3137472060 KRC US49427F1084 UDR US9026531049 Analyst Color REIT Upgrades Price Target Reiteration Analyst Ratings Real Estate Benzinga Thu, 09 Nov 2017 19:44:23 +0000 Shanthi Rexaline 10757353 at https://www.benzinga.com CareTrust REIT Announces Third Quarter 2017 Operating Results https://www.benzinga.com/pressreleases/17/11/g10750045/caretrust-reit-announces-third-quarter-2017-operating-results <link type="text/css" rel="stylesheet" href="http://www.globenewswire.com/styles/gnw_nitf.css" /> <p align="justify">SAN CLEMENTE, Calif., Nov. 08, 2017 (GLOBE NEWSWIRE) -- CareTrust REIT, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTRE#NASDAQ" rel="nofollow" rel="nofollow">CTRE</a>) reported today operating results for the third quarter of 2017, as well as other recent events.<br /></p> <p align="justify">During the quarter and since, CareTrust REIT:</p> <ul> <li>Posted net income of $0.15, normalized FFO of $0.28 and normalized FAD of $0.29, all per diluted weighted-average common share;</li> <li>Invested approximately $214 million (inclusive of transaction costs) at a blended initial cash yield of 9.0%, acquiring 19 skilled nursing facilities and 4 assisted living and memory care facilities, and providing one mortgage financing;</li> <li>Received an upgrade from Moody&#039;s Investor Service to the Company&#039;s corporate family credit rating to Ba3 from B1, with a continued positive outlook, as well as an upgrade to the senior unsecured rating of CareTrust REIT&#039;s $300 million 5.25% senior unsecured notes to Ba3 from B1, also with a continued positive outlook;</li> <li>Reduced its debt-to-EBITDA ratio to 4.5x and its debt-to-enterprise value to 26%, each as of quarter-end; and</li> <li>Amended its lease with Pristine Senior Living to reduce Pristine&#039;s portfolio from 16 to nine facilities and decrease the Company&#039;s exposure to Pristine to 7.7% of annualized rental revenue, and amended it is lease with affiliates of Trillium Healthcare to re-let the seven relinquished facilities to Trillium.</li> </ul> <p align="justify"><strong><em>Significant Milestones Reached</em></strong></p> <p align="justify">Greg Stapley, CareTrust REIT&#039;s Chairman and Chief Executive Officer, noted that in the quarter and since, the Company reached significant milestones. "We&#039;re pleased to report that with over $300 million in investments year to date, we have already beaten last year&#039;s record," he said. "In addition, we have now surpassed the $2 billion mark in enterprise value, while maintaining relatively low leverage," he added, noting that the Company&#039;s liquidity position and acquisition pipeline both look solid going into 2018.</p> <p align="justify">Mr. Stapley also noted that the Company had been able to help tenant Pristine Senior Living strengthen their operations and lease coverage, while simultaneously reducing CareTrust REIT&#039;s exposure to Pristine. He reported that Pristine had not only made meaningful operational improvements in the quarter, but had also agreed to transfer several properties to another operator selected by CareTrust REIT, without substantial rent reductions or any asset impairments. "This is an example of the kind of creative and mutually-beneficial solutions that we, with our deep understanding of our tenants&#039; businesses and operations, can cooperatively craft when true challenges arise," he added.</p> <p align="justify"><strong><em>Financial Results for Quarter Ended September 30, 2017 </em></strong></p> <p align="justify">Chief Financial Officer Bill Wagner reported that for the quarter, CareTrust REIT generated net income of $11.3 million, or $0.15 per diluted weighted-average common share, normalized FFO of $21.0 million, or $0.28 per diluted weighted-average common share, and normalized FAD of $22.2 million, or $0.29 per diluted weighted-average common share.</p> <p align="justify"><strong><em>Liquidity</em></strong></p> <p>Discussing CareTrust REIT&#039;s investments and current liquidity, Mr. Wagner reported that the $214 million in new investments in the quarter and since were funded with a combination of cash on hand and approximately $175 million in draws on the Company&#039;s $400 million unsecured revolver. He noted that the revolving credit facility includes a $250 million "accordion" feature that can be exercised by the Company at its option to increase its access to debt capital.</p> <p>He also reported that there had been no activity in the quarter on the Company&#039;s at-the-market equity program but, he added, "Our ATM program remains a significant instrument in the Company&#039;s capital-raising repertoire." Mr. Wagner further reported that CareTrust REIT&#039;s debt-to-EBITDA ratio was 4.5x and its debt-to-enterprise value was 26%, each at quarter-end, and that adjusted for subsequent transactions its current run-rate debt-to-EBITDA ratio stood at 4.5x, which is well within management&#039;s target range. He also noted that CareTrust REIT continues to have no property-level debt and, taking into account existing extension rights, no debt maturing before 2020.</p> <p><strong><em>2017 Guidance Revised Upward</em></strong></p> <p>Mr. Wagner updated CareTrust REIT&#39;s previously-issued 2017 earnings guidance. He confirmed that CareTrust REIT expects 2017 net income of approximately $0.51 to $0.52, normalized FFO of approximately $1.16 to $1.17, and normalized FAD of approximately $1.21 to $1.22. He noted that the updated 2017 guidance is based on a per-diluted weighted-average common share count of 72.9 million shares, reflects the effects of the new lease amendments with affiliates of Pristine Senior Living and Trillium Healthcare based on the expected December 1, 2017 transfer as discussed below, and assumes no new acquisitions beyond those announced, no new debt incurrences or additional equity issuances, and no future CPI-based rent escalators under CareTrust REIT&#039;s long-term net-leases beyond those made to date.</p> <p><strong><em>Dividend Declared</em></strong></p> <p>During the quarter, CareTrust declared a quarterly dividend of $0.185 per common share. "On an annualized basis, our quarterly dividend represents a payout ratio of approximately 64% based on the midpoint of our updated 2017 normalized FFO guidance, and 61% on normalized FAD," said Mr. Wagner. "At this level, our dividend remains among the best-protected of all our industry peers, while simultaneously providing additional growth capital for reinvestment and a solid overall return to our shareholders," he added.</p> <p><strong><em>Pristine Master Lease Amendment</em></strong></p> <p>Addressing recent changes in the Company&#039;s portfolio, Mr. Stapley reported that the Company entered into a new lease amendment with affiliates of Pristine Senior Living on November 2, 2017. Under the amended lease, Pristine will transfer seven of the 16 Ohio facilities it currently leases from the Company to affiliates of Trillium Healthcare, another CareTrust REIT tenant. Further, Pristine will pay a reduced base rent on the nine retained facilities for a year, with the new base rent escalating after one year under a CPI-based formula with 2.0% minimum and 3.0% maximum annual increases. He also reported that, with the seven properties added to the Company&#039;s master lease with affiliates of Trillium Healthcare, the amended Trillium lease now includes a rent schedule that steps up the base rent over approximately two years before returning to its regular CPI-based escalators, with no minimum and a 3.0% cap on annual increases.</p> <p>Mr. Stapley noted that the Ohio portfolio was divided between Pristine and Trillium on a strictly geographic basis, with the resulting two smaller portfolios each containing individual operations of varying financial performance. He added that the transfer of the seven Ohio facilities is scheduled to occur on December 1, 2017.</p> <p>Discussing the financial impacts of the transactions, Mr. Wagner noted that the Company&#039;s reported rental income for the Ohio portfolio will only decrease by approximately 1.1%, from $18.6 million to a GAAP $18.4 million annually. He also reported that, post-transfer and with the near-term rent reductions on both the nine-property portfolio retained by Pristine and the seven-property portfolio assumed by Trillium, the Company&#039;s combined GAAP lease yield for the 16-property Ohio portfolio will be approximately 9.6%. He stated that the scheduled change is designed to reduce CareTrust REIT&#039;s exposure to Pristine from 15.1% to under 7.7% of annual cash revenue, while increasing Trillium to approximately 9.5%, all on a proforma basis as of September 30, 2017.</p> <p><strong><em>Conference Call</em></strong></p> <p>A conference call will be held on Thursday, November 9, at 12:00 p.m. Eastern Time (9:00 a.m. Pacific Time), during which CareTrust REIT&#039;s management will discuss third quarter results, recent developments and other matters affecting CareTrust REIT&#039;s business and prospects. The dial-in number for this call is (844) 220-4972 (U.S.) or (317) 973-4053 (International). The conference ID number is 4077917. To listen to the call online, or to view any financial or other statistical information required by SEC Regulation G, please visit the Investors section of the CareTrust REIT website at <u>http://investor.caretrustreit.com</u>. The call will be recorded, and will be available for replay via the website for 30 days following the call.</p> <p><strong><em>About CareTrust REIT<sup>TM</sup></em></strong></p> <p>CareTrust REIT, Inc. is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition and leasing of seniors housing and healthcare-related properties. With 184 net-leased healthcare properties and three operated seniors housing properties in 23 states, CareTrust is pursuing opportunities across the nation to acquire properties that will be leased to a diverse group of local, regional and national seniors housing operators, healthcare services providers, and other healthcare-related businesses. More information about CareTrust REIT is available at <u>www.caretrustreit.com</u>.</p> <p><strong><em>Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:</em></strong></p> <p align="justify"><em>This press release contains, and the related conference call will include, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  Forward-looking statements include all statements that are not historical statements of fact and statements regarding the Company&#039;s intent, belief or expectations, including, but not limited to, statements regarding future financial and financing positions, business and acquisition strategies, growth prospects, operating and financial performance, expectations regarding the making of distributions, payment of dividends, compliance with and changes in governmental regulations, and the performance of the Company&#039;s tenants and operators and their respective facilities.</em></p> <p align="justify"><em>Words such as "anticipate," "believe," "could," expect," "estimate," "intend," "may," "plan," "seek," "should," "will," "would," and similar expressions, or the negative of these terms, are intended to identify such forward-looking statements, though not all forward-looking statements contain these identifying words. The Company&#039;s forward-looking statements are based on management&#039;s current expectations and beliefs, and are subject to a number of risks and uncertainties that could lead to actual results differing materially from those projected, forecasted or expected. Although the Company believes that the assumptions underlying these forward-looking statements are reasonable, they are not guarantees and the Company can give no assurance that its expectations will be attained. Factors which could have a material adverse effect on the Company&#039;s operations and future prospects or which could cause actual results to differ materially from expectations include, but are not limited to:  (i) the ability to achieve some or all of the expected benefits from the completed spin-off from The Ensign Group, Inc. ("Ensign");  (ii) the ability and willingness of Company tenants to meet and/or perform their obligations under the triple-net leases the Company has entered into with them and the ability and willingness of Ensign to meet and/or perform its obligations under the contractual arrangements that it entered into with the Company in connection with such spin-off, including its triple-net long-term leases with the Company, and any of its obligations to indemnify, defend and hold the Company harmless from and against various claims, litigation and liabilities; (iii) the ability and willingness of the Company&#039;s tenants to comply with laws, rules and regulations in the operation of the properties the Company leases to them; (iv) the ability and willingness of the Company&#039;s tenants, including Ensign, to renew their leases with the Company upon expiration and the ability to reposition Company properties on the same or better terms in the event of nonrenewal or in the event the Company replaces an existing tenant, and obligations, including indemnification obligations, that the Company may incur in connection with the replacement of an existing tenant; (v) the availability of and the ability to identify suitable acquisition opportunities and the ability to acquire and lease the respective properties on favorable terms; (vi) the ability to generate sufficient cash flows to service the Company&#039;s outstanding indebtedness; (vii) access to debt and equity capital markets; (viii) fluctuating interest rates; (ix) the ability to retain key management personnel; (x) the ability to maintain the Company&#039;s status as a real estate investment trust ("REIT"); (xi) changes in the U.S. tax laws and other state, federal or local laws, whether or not specific to REITs; (xii) other risks inherent in the real estate business, including potential liability relating to environmental matters and illiquidity of real estate investments; and (xiii) any additional factors identified in the Company&#039;s filings with the Securities and Exchange Commission ("SEC"), including those in the Company‘s Annual Report on Form 10-K for the year ended December 31, 2016 under the heading entitled "Risk Factors," as such risk factors may be amended, supplemented or superseded from time to time by other reports the Company files with the SEC.</em></p> <p align="justify"><em>Information in this press release or the related conference call is provided as of September 30, 2017, unless specifically stated otherwise.  the Company expressly disclaims any obligation to update or revise any information in this press release or the related conference call (and replays thereof), including forward-looking statements, whether to reflect any change in the Company&#039;s expectations, any change in events, conditions or circumstances, or otherwise.</em></p> <p align="justify"><em>As used in this press release or the related conference call, unless the context requires otherwise, references to "CTRE," &#34;CareTrust,&#34; "CareTrust REIT" or the "Company" refer to CareTrust REIT, Inc. and its consolidated subsidiaries. GAAP refers to generally accepted accounting principles in the United States of America.</em></p> <p><strong>Contact:</strong><br />CareTrust REIT, Inc.<br />(949) 542-3130<br />ir@caretrustreit.com</p> <table class="gnw_table_border_collapse gnw_table_border_collapse gnw_table_border_collapse gnw_table_border_collapse gnw_table_border_collapse gnw_table_border_collapse gnw_table_border_collapse hugin" style="width:100%;"> <tr> <td class="gnw_align_center gnw_vertical_align_bottom hugin" colspan="17"> </td> </tr> <tr> <td class="gnw_align_center gnw_vertical_align_bottom hugin" colspan="17"><strong>CARETRUST REIT, INC.</strong></td> </tr> <tr> <td class="gnw_align_center gnw_vertical_align_bottom hugin" colspan="17"><strong>CONSOLIDATED INCOME STATEMENTS</strong></td> </tr> <tr> <td class="gnw_align_center gnw_vertical_align_bottom hugin" colspan="17"><strong>(in thousands, except per share data)</strong></td> </tr> <tr> <td class="gnw_align_center gnw_vertical_align_bottom hugin" colspan="17"><strong>(unaudited)</strong></td> </tr> <tr> <td class="gnw_border_top_solid gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_top_solid gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_top_solid gnw_align_center gnw_vertical_align_bottom hugin" colspan="7"><strong>Three Months Ended September 30,</strong></td> <td class="gnw_border_top_solid gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_top_solid gnw_align_center gnw_vertical_align_bottom hugin" colspan="7"><strong>Nine Months Ended September 30,</strong></td> </tr> <tr> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom hugin" colspan="3"><strong>2017</strong></td> <td class="gnw_border_top_solid gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom hugin" colspan="3"><strong>2016</strong></td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom hugin" colspan="3"><strong>2017</strong></td> <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom hugin" colspan="3"><strong>2016</strong></td> </tr> <tr> <td class="gnw_vertical_align_bottom hugin" colspan="2"><strong>Revenues:</strong></td> <td class="gnw_vertical_align_bottom hugin" colspan="3"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin" colspan="3"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin" colspan="3"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin" colspan="3"> </td> </tr> <tr> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin">Rental income</td> <td class="gnw_vertical_align_bottom hugin">$</td> <td class="gnw_align_right gnw_vertical_align_bottom hugin">29,404</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin">$</td> <td class="gnw_align_right gnw_vertical_align_bottom hugin">24,179</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin">$</td> <td class="gnw_align_right gnw_vertical_align_bottom hugin">85,254</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin">$</td> <td class="gnw_align_right gnw_vertical_align_bottom hugin">67,857</td> <td class="gnw_vertical_align_bottom hugin"> </td> </tr> <tr> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin">Tenant reimbursements</td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">2,543</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">2,089</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">7,253</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">5,815</td> <td class="gnw_vertical_align_bottom hugin"> </td> </tr> <tr> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin">Independent living facilities</td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">825</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">766</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">2,407</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">2,177</td> <td class="gnw_vertical_align_bottom hugin"> </td> </tr> <tr> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin">Interest and other income</td> <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">176</td> <td class="gnw_border_bottom_solid gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">72</td> <td class="gnw_border_bottom_solid gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">1,471</td> <td class="gnw_border_bottom_solid gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">587</td> <td class="gnw_border_bottom_solid gnw_vertical_align_bottom hugin"> </td> </tr> <tr> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin">Total revenues</td> <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">32,948</td> <td class="gnw_border_bottom_solid gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">27,106</td> <td class="gnw_border_bottom_solid gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">96,385</td> <td class="gnw_border_bottom_solid gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">76,436</td> <td class="gnw_border_bottom_solid gnw_vertical_align_bottom hugin"> </td> </tr> <tr> <td class="gnw_vertical_align_bottom hugin" colspan="2"><strong>Expenses:</strong></td> <td class="gnw_vertical_align_bottom hugin" colspan="3"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin" colspan="3"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin" colspan="3"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin" colspan="3"> </td> </tr> <tr> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin">Depreciation and amortization</td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">9,745</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">8,248</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">28,156</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">23,433</td> <td class="gnw_vertical_align_bottom hugin"> </td> </tr> <tr> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin">Interest expense</td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">5,592</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">5,743</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">17,690</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">17,044</td> <td class="gnw_vertical_align_bottom hugin"> </td> </tr> <tr> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin">Loss on the extinguishment of debt</td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">—</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">—</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">11,883</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">326</td> <td class="gnw_vertical_align_bottom hugin"> </td> </tr> <tr> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin">Property taxes</td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">2,543</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">2,089</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">7,253</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">5,815</td> <td class="gnw_vertical_align_bottom hugin"> </td> </tr> <tr> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin">Independent living facilities</td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">698</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">708</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">2,003</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">1,926</td> <td class="gnw_vertical_align_bottom hugin"> </td> </tr> <tr> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin">Impairment of real estate investment</td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">—</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">—</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">890</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">—</td> <td class="gnw_vertical_align_bottom hugin"> </td> </tr> <tr> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin">Acquisition costs</td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">—</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">203</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">—</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">203</td> <td class="gnw_vertical_align_bottom hugin"> </td> </tr> <tr> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin">General and administrative</td> <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">3,059</td> <td class="gnw_border_bottom_solid gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">2,283</td> <td class="gnw_border_bottom_solid gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">8,426</td> <td class="gnw_border_bottom_solid gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">6,724</td> <td class="gnw_border_bottom_solid gnw_vertical_align_bottom hugin"> </td> </tr> <tr> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin">Total expenses</td> <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">21,637</td> <td class="gnw_border_bottom_solid gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">19,274</td> <td class="gnw_border_bottom_solid gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">76,301</td> <td class="gnw_border_bottom_solid gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">55,471</td> <td class="gnw_border_bottom_solid gnw_vertical_align_bottom hugin"> </td> </tr> <tr> <td class="gnw_vertical_align_bottom hugin" colspan="2"><strong>Other income:</strong></td> <td class="gnw_vertical_align_bottom hugin" colspan="3"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin" colspan="3"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin" colspan="3"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin" colspan="3"> </td> </tr> <tr> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin">Gain on disposition of other real estate investment</td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">—</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">—</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">3,538</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">—</td> <td class="gnw_vertical_align_bottom hugin"> </td> </tr> <tr> <td class="gnw_vertical_align_bottom hugin" colspan="2"><strong>Net income</strong></td> <td class="gnw_border_top_solid gnw_border_bottom_double gnw_vertical_align_bottom hugin">$</td> <td class="gnw_border_top_solid gnw_border_bottom_double gnw_align_right gnw_vertical_align_bottom hugin">11,311</td> <td class="gnw_border_top_solid gnw_border_bottom_double gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_top_solid gnw_border_bottom_double gnw_vertical_align_bottom hugin">$</td> <td class="gnw_border_top_solid gnw_border_bottom_double gnw_align_right gnw_vertical_align_bottom hugin">7,832</td> <td class="gnw_border_top_solid gnw_border_bottom_double gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_top_solid gnw_border_bottom_double gnw_vertical_align_bottom hugin">$</td> <td class="gnw_border_top_solid gnw_border_bottom_double gnw_align_right gnw_vertical_align_bottom hugin">23,622</td> <td class="gnw_border_top_solid gnw_border_bottom_double gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_top_solid gnw_border_bottom_double gnw_vertical_align_bottom hugin">$</td> <td class="gnw_border_top_solid gnw_border_bottom_double gnw_align_right gnw_vertical_align_bottom hugin">20,965</td> <td class="gnw_border_top_solid gnw_border_bottom_double gnw_vertical_align_bottom hugin"> </td> </tr> <tr> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin" colspan="3"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin" colspan="3"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin" colspan="3"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin" colspan="3"> </td> </tr> <tr> <td class="gnw_vertical_align_bottom hugin" colspan="2"><strong>Earnings per common share:</strong></td> <td class="gnw_vertical_align_bottom hugin" colspan="3"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin" colspan="3"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin" colspan="3"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin" colspan="3"> </td> </tr> <tr> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin">Basic</td> <td class="gnw_border_bottom_double gnw_vertical_align_bottom hugin">$</td> <td class="gnw_border_bottom_double gnw_align_right gnw_vertical_align_bottom hugin">0.15</td> <td class="gnw_border_bottom_double gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_bottom_double gnw_vertical_align_bottom hugin">$</td> <td class="gnw_border_bottom_double gnw_align_right gnw_vertical_align_bottom hugin">0.13</td> <td class="gnw_border_bottom_double gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_bottom_double gnw_vertical_align_bottom hugin">$</td> <td class="gnw_border_bottom_double gnw_align_right gnw_vertical_align_bottom hugin">0.33</td> <td class="gnw_border_bottom_double gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_bottom_double gnw_vertical_align_bottom hugin">$</td> <td class="gnw_border_bottom_double gnw_align_right gnw_vertical_align_bottom hugin">0.38</td> <td class="gnw_border_bottom_double gnw_vertical_align_bottom hugin"> </td> </tr> <tr> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin">Diluted</td> <td class="gnw_border_bottom_double gnw_vertical_align_bottom hugin">$</td> <td class="gnw_border_bottom_double gnw_align_right gnw_vertical_align_bottom hugin">0.15</td> <td class="gnw_border_bottom_double gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_bottom_double gnw_vertical_align_bottom hugin">$</td> <td class="gnw_border_bottom_double gnw_align_right gnw_vertical_align_bottom hugin">0.13</td> <td class="gnw_border_bottom_double gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_bottom_double gnw_vertical_align_bottom hugin">$</td> <td class="gnw_border_bottom_double gnw_align_right gnw_vertical_align_bottom hugin">0.33</td> <td class="gnw_border_bottom_double gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_bottom_double gnw_vertical_align_bottom hugin">$</td> <td class="gnw_border_bottom_double gnw_align_right gnw_vertical_align_bottom hugin">0.38</td> <td class="gnw_border_bottom_double gnw_vertical_align_bottom hugin"> </td> </tr> <tr> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin" colspan="3"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin" colspan="3"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin" colspan="3"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin" colspan="3"> </td> </tr> <tr> <td class="gnw_vertical_align_bottom hugin" colspan="2"><strong>Weighted average shares outstanding:</strong></td> <td class="gnw_vertical_align_bottom hugin" colspan="3"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin" colspan="3"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin" colspan="3"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin" colspan="3"> </td> </tr> <tr> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin">Basic</td> <td class="gnw_border_bottom_double gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">75,471</td> <td class="gnw_border_bottom_double gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_bottom_double gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">57,595</td> <td class="gnw_border_bottom_double gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_bottom_double gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">71,693</td> <td class="gnw_border_bottom_double gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_bottom_double gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">54,403</td> <td class="gnw_border_bottom_double gnw_vertical_align_bottom hugin"> </td> </tr> <tr> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin">Diluted</td> <td class="gnw_border_bottom_double gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">75,471</td> <td class="gnw_border_bottom_double gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_bottom_double gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">57,595</td> <td class="gnw_border_bottom_double gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_bottom_double gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">71,693</td> <td class="gnw_border_bottom_double gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_bottom_double gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">54,403</td> <td class="gnw_border_bottom_double gnw_vertical_align_bottom hugin"> </td> </tr> <tr> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin" colspan="3"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin" colspan="3"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin" colspan="3"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin" colspan="3"> </td> </tr> <tr> <td class="gnw_vertical_align_bottom hugin" colspan="2"><strong>Dividends declared per common share</strong></td> <td class="gnw_border_bottom_double gnw_vertical_align_bottom hugin">$</td> <td class="gnw_border_bottom_double gnw_align_right gnw_vertical_align_bottom hugin">0.185</td> <td class="gnw_border_bottom_double gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_bottom_double gnw_vertical_align_bottom gnw_align_left hugin">$</td> <td class="gnw_border_bottom_double gnw_align_right gnw_vertical_align_bottom hugin">0.17</td> <td class="gnw_border_bottom_double gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_bottom_double gnw_vertical_align_bottom hugin">$</td> <td class="gnw_border_bottom_double gnw_align_right gnw_vertical_align_bottom hugin">0.555</td> <td class="gnw_border_bottom_double gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_bottom_double gnw_vertical_align_bottom hugin">$</td> <td class="gnw_border_bottom_double gnw_align_right gnw_vertical_align_bottom hugin">0.51</td> <td class="gnw_border_bottom_double gnw_vertical_align_bottom hugin"> </td> </tr> </table> <p><br /></p> <table class="gnw_table_border_collapse gnw_table_border_collapse gnw_table_border_collapse gnw_table_border_collapse gnw_table_border_collapse gnw_table_border_collapse gnw_table_border_collapse hugin" style="width:100%;"> <tr> <td class="gnw_align_center gnw_vertical_align_bottom hugin" colspan="18"><strong>CARETRUST REIT, INC.</strong></td> </tr> <tr> <td class="gnw_align_center gnw_vertical_align_bottom hugin" colspan="18"><strong>RECONCILIATIONS OF NET INCOME TO NON-GAAP FINANCIAL MEASURES</strong></td> </tr> <tr> <td class="gnw_align_center gnw_vertical_align_bottom hugin" colspan="18"><strong> (in thousands, except per share amounts)</strong></td> </tr> <tr> <td class="gnw_align_center gnw_vertical_align_bottom hugin" colspan="18"><strong> (unaudited)</strong></td> </tr> <tr> <td class="gnw_border_top_solid gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_top_solid gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_top_solid gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_top_solid gnw_align_center gnw_vertical_align_bottom hugin" colspan="7"><strong>Three Months Ended September 30,</strong></td> <td class="gnw_border_top_solid gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_top_solid gnw_align_center gnw_vertical_align_bottom hugin" colspan="7"><strong>Nine Months Ended September 30,</strong></td> </tr> <tr> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom hugin" colspan="3"><strong>2017</strong></td> <td class="gnw_border_top_solid gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom hugin" colspan="3"><strong>2016</strong></td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom hugin" colspan="3"><strong>2017</strong></td> <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_bottom hugin" colspan="3"><strong>2016</strong></td> </tr> <tr> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin" colspan="3"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin" colspan="3"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin" colspan="3"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin" colspan="3"> </td> </tr> <tr> <td class="gnw_vertical_align_bottom hugin" colspan="2"><strong>Net income</strong></td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin">$</td> <td class="gnw_align_right gnw_vertical_align_bottom hugin">11,311</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin">$</td> <td class="gnw_align_right gnw_vertical_align_bottom hugin">7,832</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin">$</td> <td class="gnw_align_right gnw_vertical_align_bottom hugin">23,622</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin">$</td> <td class="gnw_align_right gnw_vertical_align_bottom hugin">20,965</td> <td class="gnw_vertical_align_bottom hugin"> </td> </tr> <tr> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin">Depreciation and amortization</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">9,745</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">8,248</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">28,156</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">23,433</td> <td class="gnw_vertical_align_bottom hugin"> </td> </tr> <tr> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin">Interest expense</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">5,592</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">5,743</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">17,690</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">17,044</td> <td class="gnw_vertical_align_bottom hugin"> </td> </tr> <tr> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin">Amortization of stock-based compensation</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">656</td> <td class="gnw_border_bottom_solid gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">339</td> <td class="gnw_border_bottom_solid gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">1,792</td> <td class="gnw_border_bottom_solid gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">1,207</td> <td class="gnw_border_bottom_solid gnw_vertical_align_bottom hugin"> </td> </tr> <tr> <td class="gnw_vertical_align_bottom hugin" colspan="2"><strong>EBITDA</strong></td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">27,304</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">22,162</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">71,260</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">62,649</td> <td class="gnw_vertical_align_bottom hugin"> </td> </tr> <tr> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin">Acquisition costs</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">—</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">203</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">—</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">203</td> <td class="gnw_vertical_align_bottom hugin"> </td> </tr> <tr> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin">Loss on extinguishment of debt</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">—</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">—</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom hugin" colspan="2">11,883</td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_vertical_align_bottom hugin"> </td> <td class="gnw_align_right gnw_vertical_align_bottom ...</tr></table><p><a href=https://www.benzinga.com/pressreleases/17/11/g10750045/caretrust-reit-announces-third-quarter-2017-operating-results alt=CareTrust REIT Announces Third Quarter 2017 Operating Results>Full story available on Benzinga.com</a></p> CTRE Earnings Press Releases Real Estate CTRE Earnings Press Releases Real Estate Benzinga Wed, 08 Nov 2017 21:17:00 +0000 Globe Newswire 10750045 at https://www.benzinga.com Save the Date for the Model Grand Openings of Three New California Pacific Homes Neighborhoods in Portola Springs® Village https://www.benzinga.com/pressreleases/17/11/g10748918/save-the-date-for-the-model-grand-openings-of-three-new-california-pac <link type="text/css" rel="stylesheet" href="http://www.globenewswire.com/styles/gnw_nitf.css" /> <p>IRVINE, Calif., Nov. 08, 2017 (GLOBE NEWSWIRE) -- Save the date for the Model Grand Openings of <a href="https://www.globenewswire.com/Tracker?data=IR5a_lahjpkUzGY36VIBYsQngTmPKkzsrKHkUyKBeuYSmt0tHOAD5Z1CUcxxIT7wuYMwKWA68YvrTVqy4XNWEfNctzy7yPR6m420MP9JB3c=" rel="nofollow" target="_blank" rel="nofollow" rel="nofollow">Brisa</a>, <a href="https://www.globenewswire.com/Tracker?data=hmmHC5-GbLAXIhGJxkP-W7zuVWQFpgI__6ljAb9kLjDgWxv-GKUZ_Y_horuKGJmC-JU64dm0LVgAqAKNS-qdYmFJ37cnyxUieZkNaqztHxH9xNPOhxL_gzgDkqQzhjAO" rel="nofollow" target="_blank" rel="nofollow" rel="nofollow">Celeste</a> and <a href="https://www.globenewswire.com/Tracker?data=bLeB1pKwGEWZqBP4kOF5gmGpR-xxEeCoa_1xVNMuqlGpqiybMeKT4yG2gOfH6dMMGoM6jSaYQnGpUQM_iE04vLIfggyK3uYFRCb15N8-D-0=" rel="nofollow" target="_blank" rel="nofollow" rel="nofollow">Talise</a>, three new California Pacific Home neighborhoods debuting in Portola Springs® Village on December 9th. The highly-anticipated event will offer a first opportunity to tour these new collections and experience the impressive array of attached and detached home designs.<br /></p> <table border="0"> <tr> <td> <table width="305" cellspacing="6" class="gnw_news_media_box" cellpadding="1" border="0"> <tr> <td class="gnw_media_bgcolor"> <table width="100%" align="center" border="0" cellspacing="0" cellpadding="0"> <tr> <td colspan="2"><a href="https://www.globenewswire.com/NewsRoom/AttachmentNg/2753303d-0a8a-4a54-94aa-3bb5e86af87d/en" rel="nofollow" rel="nofollow"><img src="https://resource.globenewswire.com/Resource/Download/2753303d-0a8a-4a54-94aa-3bb5e86af87d?size=2" border="0" width="300" height="200" alt="Celeste by California Pacific Homes" /></a></td> </tr> <tr> <td class="gnw_media_caption" width="5"></td> <td align="left" class="gnw_media_caption">Three new neighborhoods by California Pacific Homes are coming to Portola Springs Village in Irvine this December.</td> </tr> </table> </td> </tr> </table> <p> <br /><br /> </p></td> </tr> </table> <p>A photo accompanying this announcement is available at <a href="https://www.globenewswire.com/Tracker?data=i6aH3236PK_qoaPjbMOTxLTIba1Xry5Frp-H8nFhtKjh4ZtB6wS8S2TqKUDPxst2RSqI1wc41Li2m7aIWfVG0nfRKQCMPUto-3xwvAPWAqw1ylzDpEKKg-ucTVHvc1nVbhWO39H3bQspDIRY7jZdH14EaJE1IGWdUL2NFiqVmJ4ga03DYr-6-gB_-jbwMrGPsXDgob5cwdY99dGuPPO0n7UFfYMl9AJa7Pu-zznFXFZmhXTwSHcTXW_btDbYoctzP5400NcJ0iQWGzpKMxrbGA==" rel="nofollow" target="_blank" rel="nofollow" rel="nofollow">http://www.globenewswire.com/NewsRoom/AttachmentNg/2753303d-0a8a-4a54-94aa-3bb5e86af87d</a></p> <p>Brisa presents <a href="https://www.globenewswire.com/Tracker?data=whvVr8QBb_UgMxr4U7sfWjytfsKVOUW3PxXRBsZWkebl9HcAoKzX7KhLO-8B33u0DyaSi8sAb-d5GGzK-xZz4XYQsAPf5Za2YoCdKppUe5_NUgTt2qi77PDl30mei2iB" rel="nofollow" target="_blank" rel="nofollow" rel="nofollow">townhome designs</a> with smartly planned living spaces, modern amenities and two-car garages. Private first-floor bedrooms, outdoor decks and charming courtyards highlight individual residences. Celeste features <a href="https://www.globenewswire.com/Tracker?data=aFnYN_ZdTqshROmSqRQAD7aoP9LvSBywTllqBSj7uz4XeYRPi_cdwxiZY9F_U8bOh-Rn43zjR9CkNld3EpCMSOoJegjs3EK6i4SMqw3Ve3WiUY42X3MsrqcendFXQTrDUrWhswYWLEpR8_owWIlrew==" rel="nofollow" target="_blank" rel="nofollow" rel="nofollow">attached and detached courtyard homes</a> in two- and three-story designs with generous living areas; first-floor bedrooms in select plans; a private rear yard or covered deck; and two-car attached garages. Talise&#039;s modern <a href="https://www.globenewswire.com/Tracker?data=JgrJG4E-fw03YakvpMSDfgbVU9H0pcYoe4GMwd9ZFmEZvCuJa8bqP5ZfqKZW1oaOE2loPhb0XBF8ALoYSOin60LtiVNZHTG9ZlFC6e9yBYZOHG2wwxgW49pWaTHtJ6eA-ZNIEV9Qv78HH_EpJwlghw==" rel="nofollow" target="_blank" rel="nofollow" rel="nofollow">detached courtyard homes</a> showcase spacious living areas with volume ceilings, a first-floor guest bedroom with en-suite bath; loft in select plans; private courtyards for outdoor dining; and two-car attached garages. Breathtaking views in select home locations.</p> <p>The Model Grand Openings will also offer a glimpse into the Portola Springs lifestyle, where residents enjoy resort-style recreation that includes parks ...</p><p><a href=https://www.benzinga.com/pressreleases/17/11/g10748918/save-the-date-for-the-model-grand-openings-of-three-new-california-pac alt=Save the Date for the Model Grand Openings of Three New California Pacific Homes Neighborhoods in Portola Springs® Village>Full story available on Benzinga.com</a></p> News Press Releases General Real Estate News Press Releases General Real Estate Benzinga Wed, 08 Nov 2017 19:49:38 +0000 Globe Newswire 10748918 at https://www.benzinga.com