Q: Ca n you comment on their most recent quarterly earnings, are they trending in the right direction?
Thanks
Peter
Thanks
Peter
5i Research Answer:
Revenue of $27.1M beat estimates of $26.9M. EBITDA of $15.8M beat estimates by 3%. Net operating income rose 19.6%. Cash flow per unit rose 7.2%. Payout ratio 91.1%, down from 97.7%. Occupancy was 95.5% and debt ratios decline a little bit. It was a solid quarter, with good NOI growth and other metrics are indeed moving in the right direction. The stock is cheap at 11X cash flow, but sector and size risk should be noted here.