Colony Credit On Death Row

Note: Seeking Alpha declined to publish this article in this form because the editor thought it was too provocative.   Colony Credit delivered a disappointing 2Q19 GAAP loss of -$111mm and non-GAAP "Core Earnings" of $36mm ($0.28/share) Share price is at a wide 38% discount to book value while peers trade at an average premium … Continue reading Colony Credit On Death Row

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Phoenix New Media Reported 2Q19 Results And Raised Dividend Guidance

Phoenix New Media reported 2Q19 results (Press Release, Conference call transcript).  Highlights: $200mm Payments for Step1 of the amended Yidian sale agreement have been received (Koneko comments on the amended agreement) Management confident in 20% revenue growth for FY19 and expects "at least 20% year-over-year revenue growth in the coming two to three years" Management … Continue reading Phoenix New Media Reported 2Q19 Results And Raised Dividend Guidance

Artis REIT: Strong Operating Results Overshadowed Strategic Initiatives

Artis 8/2 unit price is a 22% discount to IFRS Net Asset Value of $15.37/unit Artis trades at 8.8 X 2019 FFO, well below the 14X average for all Canadian REITs and 16X average for all US REITs The strategic initiatives announced in November 2018 have been aggressively implemented and an independent Special Committee is … Continue reading Artis REIT: Strong Operating Results Overshadowed Strategic Initiatives