Last $7.96 USD
Change Today -0.03 / -0.38%
Volume 4.9K
As of 12:33 PM 01/30/15 All times are local (Market data is delayed by at least 15 minutes).

trade street residential inc (TSRE) Key Developments

Trade Street Residential Announces Dividend for the Fourth Quarter of 2014, Payable on January 15, 2015

Trade Street Residential, Inc. announced that its Board of Directors has declared a dividend of $0.095 per share on the company's common stock for the fourth quarter of 2014. The fourth quarter dividend will be payable on January 15, 2015 to stockholders of record on December 30, 2014.

Trade Street Residential, Inc. Announces Executive Resignations, Effective November 3, 2014; Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

Trade Street announced that effective November 3, Ryan Hanks has stepped down as chief operating officer and chief investment officer. Hanks will continue in a consulting capacity until completion of the Board of Directors review of strategic alternatives. The company reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported rental revenues of $13,831,000 against $7,168,000 a year ago. Total property revenues were $15,306,000 against $8,027,000 a year ago. Loss from continuing operations was $9,432,000 against income from continuing operations of $1,962,000 a year ago. Net loss was $9,432,000 against net income of $1,882,000 a year ago. Net loss attributable to common stockholders was $9,086,000 against net income attributable to common stockholders of $1,360,000 a year ago. Loss per share basic and diluted from continuing operations was $0.25 against earnings per share basic and diluted from continuing operations of $0.13 per share a year ago. Net loss attributable to common stockholders was $0.25 per share against net earnings attributable to common stockholders of $0.12 per share a year ago. Funds from operations attributable to common stockholders were $2,857,000 against funds from operations attributable to common stockholders negative of $1,655,000 a year ago. Core funds from operations for the quarter were $3.1 million or $0.09 per diluted share, as compared to income of $0.1 million, or $0.01 per diluted share in the prior year period. Revenues were $5,410,000 against $5,221,000 a year ago. Net operating income was $2,935,000 against $2,873,000 a year ago. For nine months, the company reported rental revenues of $37,330,000 against $17,864,000 a year ago. Total property revenues were $41,369,000 against $19,749,000 a year ago. Loss from continuing operations was $29,537,000 against $6,974,000 a year ago. Net loss was $29,537,000 against $5,278,000 a year ago. Net loss attributable to common stockholders was $28,279,000 against net income attributable to common stockholders of $4,121,000 a year ago. Loss per share basic and diluted from continuing operations was $0.81 against earnings per share basic and diluted from continuing operations of $0.31 per share a year ago. Net loss attributable to common stockholders was $0.81 per share against net earnings attributable to common stockholders of $0.52 per share a year ago. Funds from operations attributable to common stockholders negative were $6,280,000 against $4,297,000 a year ago. Core funds from operations attributable to common stockholders was $6,224,000 or 0.18 per share against core funds from operations attributable to common stockholders negative of $642,000 or $0.08 per share a year ago. Revenues were $15,939,000 against $15,184,000 a year ago. Net operating income was $8,634,000 against $8,324,000 a year ago.

Trade Street Considers Strategic Alternatives

Trade Street Residential, Inc.’s (NasdaqGM:TSRE) Board of Directors announced a review of strategic alternatives to enhance stockholder value. Such review will include (among other alternatives): a sale, merger, acquisition or other form of business combination; sale or acquisition of assets; or a debt or equity recapitalization. Trade Street has appointed J.P. Morgan Securities LLC as its financial advisor and Morrison & Foerster LLP as itslegal advisor to evaluate strategic alternatives.

Trade Street Residential, Inc. to Report Q3, 2014 Results on Nov 03, 2014

Trade Street Residential, Inc. announced that they will report Q3, 2014 results at 9:00 AM, Eastern Standard Time on Nov 03, 2014

Trade Street Residential, Inc., Q3 2014 Earnings Call, Nov 03, 2014

Trade Street Residential, Inc., Q3 2014 Earnings Call, Nov 03, 2014

 

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