Real Estate News

Arbor Realty Trust Reports Fourth Quarter and Full Year 2020 Results and Increases Dividend for Third Consecutive Quarter to $0.33 per Share

Fourth Quarter Highlights:

Diversified operating platform with a multifamily focus that continues to produce strong distributable earnings and dividends in all cycles GAAP net income of $0.80 and distributable earnings of $0.49 per diluted common share1Raised cash dividend on common stock to $0.33 per share, our third consecutive quarterly increaseContinued strong performance from our residential mortgage banking joint venture generating pretax income of $19.6 millionRaised $105 million of accretive growth capital through the issuance of common shares

Agency Business:

Segment income of $70.9 millionRecord loan originations of $2.75 billion, an 87% increase over last quarterServicing portfolio of $24.63 billion representing 9% growth in the current quarter

Structured Business:

Segment income of $39.9 millionPortfolio growth of 7% on $985.2 million of loan originations

Full Year Highlights:

GAAP net income of $1.41 and distributable earnings of $1.75 per diluted common share1Raised annual dividend run rate to $1.32 per share, a 10% increase from a year ago, representing nine straight years of dividend growthRecord originations of $9.15 billion, a 20% increase over 2019Agency servicing portfolio growth of 23% from record loan originations of $6.71 billionStructured portfolio growth of 28% from loan originations of $2.43 billionIndustry leading shareholder return of 7% in 2020 despite ongoing pandemic; all other commercial mortgage REITs in our space had a negative return during 2020Raised $250 million of accretive growth capital through issuance of common stock and senior unsecured debtContinued focus on improving funding sources: issued $275.0 million of 4.50% senior notes to replace higher cost debt, increased warehouse capacity by $420.0 million, added a new $800.0 million CLO vehicle and completed first private label securitization totaling $727.2 millionGenerated pretax income of $75.7 million from residential mortgage banking joint ventureNamed the top Fannie Mae Small Loan Producer two years running (2019-2020); jumped up to sixth on the Top Fannie Mae DUS Multifamily Lender list for 2020

UNIONDALE, N.Y.

Ryman Hospitality Properties, Inc. Announces Closing of Private Offering of $600 Million of 4.500% Senior Notes Due 2029 and Expiration and Results of Tender Offer for 2023 Notes

NASHVILLE, Tenn., Feb. 17, 2021 (GLOBE NEWSWIRE) -- Ryman Hospitality Properties, Inc. (NYSE: RHP) (the “Company”) announced today that its subsidiaries, RHP Hotel Properties, LP (the “Operating Partnership”) and RHP Finance Corporation (together with the Operating Partnership, the “Issuers”), completed the previously announced private placement of $600 million aggregate principal amount of 4.500% senior notes due 2029 (the “notes”).

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