Capital Trust reports 2Q income hike in volatile market.Capital Trust, Inc reported results for the quarter ended June 30, 2007. CT reported net income of $1.43 per share (diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. ) for the second quarter, an increase of 57% year over year. "In the face of increased volatility and market turbulence, CT's results reflect another solid quarter of performance." said John Klopp, Capital Trust's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "Going forward, companies with strong credit discipline and strong balance sheets will benefit from this dislocation dislocation, displacement of a body part, usually a bone. When a bone is dislocated, the ends of opposing bones are usually forced out of connection with one another. In the process, bruising of tissues and tearing of ligaments may occur. ." CT originated $687 million of new investment commitments for the balance sheet (includes $15 million unfunded and $205 million of participations sold to CT Large Loan Fund) and $842 million for investment management vehicles, a record quarter for the company. The company recorded no losses or reserves for losses during the quarter in any portfolio. In addition, the company completed the resolution of its sole nonperforming loan, recovering a total of $12.3 million ($10.9 million during the period), on the $8 million original principal balance mortgage loan. CT increased its unsecured credit facility size by $50 million to a total of $100 million, bringing five new lenders into the syndicate. Another highlight was its acquisition of PRN (PRiNter) The DOS name for the first connected parallel port. See DOS device names. Capital, a fully-integrated healthcare real estate lending platform, enhancing the Company's direct origination and asset management capabilities in the sector. CT raised $50 million CTX CTX Context (Management; Tandem) CTX Centex Corporation (stock symbol) CTX Centrex CTX Cyclophosphamide CTX Corporate Trade Exchange CTX Cytoxan CTX Cholera Toxin CTX Clinical Trial Exemption Fund I to co-invest in Capital Trust sponsored and managed off balance sheet CDO (Collaborative Data Objects) A programming interface from Microsoft for accessing MAPI-based e-mail, calendaring and scheduling servers. Originally called "OLE Messaging" and "Active Messaging," CDO wraps the Enhanced MAPI library into a COM object that provides the transactions. CTIMCO, the Company's investmerit management subsidiary, earns base and incentive management fees as CDO collateral manager for CTX Fund transactions. It received upgrades on seven classes of CT CDO III from Fitch Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. . Of the fourteen rated classes, seven were upgraded by one to two notches and the remaining seven classes had their pre-existing ratings affirmed. Fitch attributed the ratings action to the improved credit quality of the portfolio and seasoning of the collateral. CT also obtained an additional $100 million equity commitment from the separate account investor, bringing the total commitment to $350 million. |
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