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Last $6.51 USD
Change Today +0.05 / 0.77%
Volume 29.2K
TSRE On Other Exchanges
Symbol
Exchange
NASDAQ GM
As of 8:10 PM 09/3/15 All times are local (Market data is delayed by at least 15 minutes).

trade street residential inc (TSRE) Snapshot

Open
$6.50
Previous Close
$6.46
Day High
$6.58
Day Low
$6.48
52 Week High
12/18/14 - $8.15
52 Week Low
09/1/15 - $6.33
Market Cap
239.6M
Average Volume 10 Days
54.7K
EPS TTM
$-0.08
Shares Outstanding
36.8M
EX-Date
09/2/15
P/E TM
--
Dividend
$0.33
Dividend Yield
5.64%
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: 08/24/15
Founded in 1980

trade street residential inc (TSRE) Top Compensated Officers

Chief Executive Officer and President
Total Annual Compensation: $632.2K
Principal Financial Officer and Chief Account...
Total Annual Compensation: $158.8K
Compensation as of Fiscal Year 2014.

trade street residential inc (TSRE) Key Developments

Trade Street Residential, Inc. Reports Consolidated Earnings Results for the Second Quarter Ended June 30, 2015 and Revenue Results for the Six Months Ended June 30, 2015; Reports Impairment Charges for the Second Quarter Ended June 30, 2015

Trade Street Residential, Inc. reported consolidated earnings results for the second quarter ended June 30, 2015 and revenue results for the six months ended June 30, 2015. Net loss attributable to common stockholders for the second quarter of 2015 was $3.4 million compared to a net loss of $4.0 million in the prior year period. The decrease in net loss was primarily the result of a $1.6 million increase in revenues, a $1.7 million reduction in depreciation and amortization expense and $0.7 million lower general and administrative expense, which more than offset a $3.0 million increase in acquisition and recapitalization costs compared to the prior year period, as well as impairment charge in the second quarter associated with land held for sale. Same store NOI for the second quarter of 2015 increased 11.3% to $5.8 million as compared to $5.2 million in the prior year period. This improvement in same store NOI was driven by a 5.9% increase in same store revenue and a 0.9% decrease in same store property expenses compared to the prior year period. The increase in same store revenue was primarily attributable to a 30 basis point increase in average occupancy to 96.5%, and a 4.4% increase in average rent to $1,003 per unit. The decrease in same store property operating expenses was primarily attributable to a decrease in advertising expenses and unit turnover costs due to stable occupancies within the same store portfolio as well as favorable property taxes expense, as routine accruals were moderated based on preliminary tax valuations for 2015. Funds from operations, or FFO, for the second quarter of 2015 were $1.3 million, or $0.03 per diluted share, as compared to $1.7 million, or $0.04 per diluted share, in the prior year period. The current quarter FFO result was negatively impacted by the $3.1 million of acquisition and recapitalization costs incurred during the second quarter of 2015 in connection with the company's planned merger with Independence Realty Trust. Excluding those costs, core FFO for the second quarter of 2015 was $4.5 million, or $0.12 per diluted share, as compared to $2.4 million, or $0.06 per diluted share, in the prior year period. Adjusted FFO, which additionally deducts recurring and non-recurring capital expenditures, was $3.8 million, or $0.10 per diluted share, for the second quarter of 2015, as compared to $1.6 million, or $0.04 per diluted share, in the prior year period. For the six months ended June 30, 2015, same store revenue increased 4.8%, same store property expenses decreased 1.7%, and same store NOI increased 10.1%, compared to the six months ended June 30, 2014. The company recorded a $0.8 million impairment charge in the second quarter of 2015 associated with land held for sale.

Trade Street Residential, Inc. Announces Dividend for the Second Quarter of 2015, Payable on July 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 second quarter of 2015. The second quarter dividend will be payable July 15, 2015 to stockholders of record on June 30, 2015.

Trade Street Residential, Inc. Presents at REITWEEK 2015: NAREIT's Investor Forum, Jun-09-2015

Trade Street Residential, Inc. Presents at REITWEEK 2015: NAREIT's Investor Forum, Jun-09-2015 . Venue: New York Hilton Midtown, 1335 Avenue of the Americas, New York, NY 10019, United States.

 

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Price/Sales 3.8x
Price/Book 1.3x
Price/Cash Flow 72.7x
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