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Last $7.10 USD
Change Today -0.04 / -0.56%
Volume 28.6K
TSRE On Other Exchanges
Symbol
Exchange
NASDAQ GM
As of 8:10 PM 03/26/15 All times are local (Market data is delayed by at least 15 minutes).

trade street residential inc (TSRE) Snapshot

Open
$7.15
Previous Close
$7.14
Day High
$7.15
Day Low
$6.69
52 Week High
04/17/14 - $8.46
52 Week Low
10/14/14 - $6.39
Market Cap
260.6M
Average Volume 10 Days
45.8K
EPS TTM
$-0.25
Shares Outstanding
36.7M
EX-Date
03/27/15
P/E TM
--
Dividend
$0.38
Dividend Yield
5.35%
Current Stock Chart for TRADE STREET RESIDENTIAL INC (TSRE)

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trade street residential inc (TSRE) Details

Trade Street Residential, Inc., a real estate investment trust, engages in acquiring, owning, operating, and managing garden-style and mid-rise apartment communities in mid-sized cities and suburban submarkets of larger cities primarily in the southeastern United States. The company owns and operates apartment communities in Alabama, Florida, Georgia, Kentucky, North Carolina, South Carolina, Tennessee, and Texas. Its properties include amenities, such as swimming pools, clubhouses, fitness facilities, and controlled-access gated entrances. The company is also seeking joint venture development and pre-sale opportunities. It has elected to be taxed as a real estate investment trust. As a result, the company would not be subject to corporate income tax on that portion of its net income that is distributed to shareholders. Trade Street Residential, Inc. was founded in 1980 and is headquartered in Aventura, Florida.

140 Employees
Last Reported Date: 03/13/15
Founded in 1980

trade street residential inc (TSRE) Top Compensated Officers

Chief Executive Officer and President
Total Annual Compensation: $59.9K
Consultant
Total Annual Compensation: $150.0K
Compensation as of Fiscal Year 2013.

trade street residential inc (TSRE) Key Developments

Trade Street Residential Declares Dividend for the First Quarter, Payable on April 15

Trade Street Residential reported its board declared a first quarter dividend of $0.095 a share, unchanged from the previous quarterly payout. The dividend will be payable April 15 to stockholders of record on March 31.

Trade Street Residential, Inc. Approves Amendments to its Restated Bylaws

On and effective March 18, 2015, the Board of Directors of Trade Street Residential, Inc. approved amendment to the company's third amended and restated bylaws, which specifies that the sole and exclusive forum for certain legal actions involving the company shall be the circuit court for Baltimore City, Maryland, or, if that court does not have jurisdiction, the United States District Court for the District of Maryland, Baltimore Division, unless the company consents in writing to the selection of an alternate forum.

Trade Street Residential, Inc. Announces Consolidated Results for the Fourth Quarter and Full Year Ended December 31, 2014

Trade Street Residential, Inc. announced consolidated results for the fourth quarter and full year ended December 31, 2014. Net income attributable to common stockholders for the fourth quarter of 2014 was $0.5 million, or $0.01 per diluted share, as compared to a net loss of $9.7 million, or $0.87 per diluted share, in the prior year period. The increase in net income was primarily the result of higher revenues, lower general and administrative expenses and $1.1 million gain on the sale of the company's interest in The Estates at Perimeter joint venture versus a one-time charge of $11.8 million associated with impairment on land holdings the prior year quarter. Funds from Operations, or FFO, for the fourth quarter of 2014 was $2.1 million, or $0.05 per diluted share, as compared to a deficit of $0.8 million, or $0.06 per diluted share in the prior year period.  The increase in FFO is largely the result of the addition of six new operating properties since the fourth quarter of 2013. Core FFO for the fourth quarter of 2014 was $4.0 million, or $0.10 per diluted share, as compared to a deficit of $0.1 million, or $0.01 per diluted share in the prior year period. Adjusted FFO, which additionally deducts capital expenditures, for the fourth quarter of 2014 was $3.1 million, or $0.08 per diluted share, as compared to a deficit of $0.6 million, or $0.04 per diluted share, in the prior year period. Same store NOI for the fourth quarter of 2014 was $3.0 million as compared to $2.7 million in the same period in the prior year. Same store NOI increased 14.2% compared to the fourth quarter of 2013, driven by a 5.7% increase in same store revenue and a 3.3% decrease in same store property expenses compared to the fourth quarter of 2013. The increase in same store revenue was primarily attributable to a 110 basis point increase in average occupancy to 96.6 %, and a 4.0% increase in average rent to $915 per month. On a sequential quarter basis, fourth quarter 2014 same store revenue increased 1.6% compared to the third quarter of 2014, while same store property expenses decreased 0.6% resulting in a same store NOI increase of 3.4%. The company's net loss attributable to common stockholders for the full year of 2014 was $27.8 million, or $0.79 per diluted share, as compared to a $5.6 million, or $0.64 per diluted share, in the prior year. The change in net income was primarily attributable to higher revenue which was more than offset by higher property and other expenses, including $10.0 million of management transition expense. The net loss in the full year of 2013 also included a one-time bargain purchase gain of $6.9 million on acquired assets. FFO for the full year of 2014 was a deficit of $4.6 million, or $0.12 per diluted share, as compared to a deficit of $5.8 million, or $0.52 per diluted share in the prior year. Core FFO for the full year of 2014 was $10.7 million, or $0.28 per diluted share, as compared to a loss of $0.8 million, or $0.07 per diluted share in the prior year. Adjusted FFO for the full year of 2014 was $8.3 million, or $0.22 per diluted share, as compared to a deficit of $2.5 million, or $0.22 per diluted share, in the prior year. For the full year of 2014, same store revenue increased 5.2%, same store property expenses increased 3.8%, and same store NOI increased 6.3%, compared to the full year of 2013.

 

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