On Feb. 28, American Financial Realty
- Adjusted funds from operations (FFO), a measure of cash flow, fell to $21 million versus $26 million last year.
- The company has struggled, and management deemed it necessary to reposition the portfolio. During the quarter, the company sold 27 properties for $917 million, and it plans to sell off another $575 million worth of property to pay down debt.
- The company's total occupancy was 86.9% at year-end; however, excluding the properties American Financial plans on selling, occupancy was 91.5%.
(Figures in thousands, except per-share data)
Income Statement Highlights
Q4 2006 | Q4 2005 | Change | |
---|---|---|---|
Sales | $109,198 | $102,869 | 6.2% |
Net Profit | $45,536 | ($20,964) | N/A |
EPS | $0.35 | ($0.17) | N/A |
Get back to basics with a look at the income statement.
Balance Sheet Highlights
Assets | Q4 2006 | Q4 2005 | Change |
---|---|---|---|
Cash + ST Invest. | $218,302 | $187,133 | 16.7% |
Accounts Rec. | $62,946 | $51,435 | 22.4% |
Net Real Estate Investments | $2,320,600 | $3,296,026 | (29.6%) |
Liabilities | Q4 2006 | Q4 2005 | Change |
---|---|---|---|
Total Debt | $2,216,265 | $3,084,995 | (28.2%) |
Book Value | $785,964 | $907,843 | (13.4%) |
Learn the ways of the balance sheet.
Cash Flow Highlights
Q4 2006 | Q4 2005 | Change | |
---|---|---|---|
EBITDA | $43,490 | $45,062 | (3.5%) |
FFO | ($75,447) | $7,423 | N/A |
Adjusted FFO | $21,413 | $26,161 | (18.1%) |
Find out why Fools always follow the money.
Related Foolishness:
- American Financial's Acceptable Risks
- Something Afoot at American Financial
- American Financial Has More Work to Do
American Financial is a Motley Fool Income Investor recommendation. Try any one of our investing services free for 30 days.
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Fool contributor Emil Lee is an analyst and a disciple of value investing. He doesn't own shares in any of the companies mentioned above. Emil appreciates your comments, concerns, and complaints. The Motley Fool has a disclosure policy.