Category Archives: Companies
Colony Credit Real Estate 20Q3 Update
Shares of Colony Credit Real Estate (CLNC) have surged over the past six weeks, nearly doubling from a low of $4.37 on Oct. 29 to a high of $8.11 on Nov. 25. Since then, CLNC’s share price has been trading … Continue reading
Diversified Healthcare Trust (DHC): Weaker Than Anticipated 20Q3 Results
Diversified Healthcare Trust reported 2020 third quarter normalized funds from operations (FFO) (according to my definition) of $11.0 million or $0.05 per share, well below results for 19Q3 and 20Q2 and also below my projection of $27.8 million or $0.12 … Continue reading
GE: 2020 Third Quarter Earnings Review
General Electric reported a 2020 third quarter GAAP loss of $1.16 billion or $0.13 per share on revenues on revenues of $19.4 billion, down 17%. In the 2019 third quarter, the company reported a comparable net loss of $1.3 billion … Continue reading
Wells Fargo: Still Under a Regulatory Cloud, Wading Through the Pandemic
Shares of Well Fargo have been under a regulatory cloud ever since the Federal Reserve placed a cap on its total assets in April 2018. To lift the cap, the company must demonstrate that it has implemented an effective remediation … Continue reading
GE 20Q3 Earnings Preview and Outlook
Shares of GE have underperformed both the broader market and GE’s industrial peer group since the onset of the COVID-19 pandemic. The weak performance reflects primarily the company’s exposure to the aviation business, which prior to the pandemic was GE’s … Continue reading
Debt Refinancing Eliminates Risk of Default; But Diversified Healthcare Trust Will Need to Raise Equity Eventually
Diversified Healthcare Trust (DHC) reported 2020 second quarter normalized funds from operations (FFO) (according to my definition) of $52.8 million or $0.22 per share, down 33% from $81.1 million or $0.33 per share in the prior year quarter. The decline … Continue reading
A Weak Second Quarter Should Mark the Bottom for Colony Capital, But Future Dilution is a Key Issue
Colony Capital reported a 2020 second quarter net loss of $2.04 billion or $4.33 per share, compared with a much smaller loss in the prior year quarter. This year’s loss was driven by $2.0 billion of impairment charges taken across … Continue reading
Five Star’s Strong Stock Performance Could Signal Quicker Turnaround
Five Star Senior Living continues to cope with the effects of the COVID-19 pandemic on its operations. During the 2020 second quarter, it experienced a 3.8% decline in occupancy from 82.5% to 78.7% across its owned and managed senior living … Continue reading
Colony Capital: The Big Pivot on Hold
In response to activist pressure precipitated by a deterioration in its financial performance and a steady decline in its stock price, Colony Capital announced in November 2019 a new strategy to focus on growing its Digital Realty and Investment Management … Continue reading
After Completing Its Corporate Transition, Change Healthcare Copes With COVID-19
Change Healthcare Inc. (CHNG, Change Inc., Change or Inc.) is a new public company formed in 2016 as a joint venture between McKesson Corporation (MCK) and an investor group led by The Blackstone Group. Over the past four years, the … Continue reading