Target level of leverage and earnings now expected in 2H19 Asset level performance is satisfactory with unlevered yields in line with expectations Portfolio return below peers due to lower yielding non core assets (real estate and Private equity) and low leverage The company remains under-owned (held by only 6 ETFs) and undervalued (12% discount to … Continue reading Colony Credit Needs More Time To Reach Targets
Net Asset Value rose 32% since 12/31/16 to $20.95/share at 6/30/18 Property Operating Expense declined from 24% of revenue in 2016 to 21% of revenue in 1H18 Overhead Expense declined from 6.0% of Net Assets in 2016 to 3.4% of Net Assets in 1H18 Discount to NAV of 37% for NRE compared to an average … Continue reading Northstar Realty Europe: Rising Asset Value and Falling Expenses
Xinyuan Science & Technology Service (XSTS), the property management subsidiary of Xinyuan Real Estate, filed its 1H18 Report (LINK). Even though XSTS shares are not yet trading publicly, the NEEQ listing provides visibility into the rapid growth of Xinyuan’s recurring revenues and income from this business. Highlights: The company’s NEEQ listing was approved on 3/15/17 … Continue reading Xinyuan Science & Technology Service (NEEQ:870929) Outstanding 1H18 Results
Koneko Research 