Corporate Profile for Equity One, Inc., dated Jan. 28, 2000.Business Editors --(BUSINESS WIRE) The following Corporate Profile is available for inclusion in your files. News releases for this client are distributed by Business Wire and also become part of the leading databases and online services, including all of the leading Internet-based services.
Published Date: Jan. 28, 2000
Company Name: Equity One, Inc.
Address: 1600 NE Miami Gardens Drive
North Miami Beach, FL 33179
Main Telephone
Number: 305/947-1664
Internet Home
Page Address
(URL) www.equityone.net
Chief Executive
Officer: Chaim Katzman
Chief Financial
Officer: Howard Sipzner
Investor Relations
Contact: Michele Guard
Business number: 305/947-1664
E-mail address: equity2@gate.net
Public Relations
Contact: Michele Guard
Business number: 305/947-1664
E-mail address: equity2@gate.net
Industry: Real Estate Investment
Trading Symbol/
Exchange: EQY/NYSE
Market Makers: Van der Moolen Specialists USA
Company description: Equity One, Inc., a publicly traded retail REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). , concentrates on acquiring and developing low-risk, supermarket-anchored shopping centers in Florida. The Company's 3.1 million square foot portfolio includes 265,000 square feet currently under construction in their two newest development projects; The Shops at Skylake in North Miami Beach, Florida North Miami Beach (commonly referred to as NMB) is a city in Miami-Dade County, Florida, United States. Originally named Fulford in 1926 after Captain William H. Fulford of the United States Coast Guard, the city was incorporated in 1927 as Fulford, but was renamed North and Forest Village in Tallahassee, Florida For other uses, see Tallahassee (disambiguation). Tallahassee is the capital of the State of Florida and the county seat of Leon County. Tallahassee became the capital of Florida in 1824. As of 2006, the population recorded by the U.S. . Future growth will be driven by selective acquisition activity, as well as the future development of 307,000 square feet adjacent to eight existing centers, 130,000 square feet in two new centers, and 200,000 square feet in one mixed-use property, with all projects expected to be completed by the year 2002. Equity One has a strong balance sheet with debt to total market capitalization Total Market Capitalization The total market value of all of a firm's outstanding securities. of 47.2%, an EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become coverage ratio of 3.8 for the nine months ended September 30, 1999, and 89% of its debt at a weighted average fixed rate of 7.55%. The Company has posted solid operating results over the past few years, with meaningful increases in revenues, net income, funds from operations Funds From Operations (FFO) Used by real estate and other investment trusts to define the cash flow from trust operations; earnings with depreciation and amortization added back. and dividends. Investors in Equity One will benefit from the Company's focused market strategy, its disciplined yet opportunistic approach to both acquisitions and development, the embedded growth in the development pipeline, and an experienced management team in an enterprise with a strong balance sheet and a history of solid financial performance. The execution of the Company's focused strategy over the past few years is reflected in Equity One's strong financial performance. Actual results for the first nine months of 1999 include Funds from Operations (FFO FFO See: Funds from operations ) of $10.0 million, or $0.93 per share, on revenue of $19.5 million, as compared to pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma FFO of $8.7 million, or $0.84 per share, on revenue of $18.0 million for the first nine months of 1998, adjusted to account for the Company's IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. in May 1998. The Company's compound annual growth rate for revenue, EBITDA, and Funds From Operations for the years 1994-1998 was 44%, 49%, and 72%. First Call estimates project FFO per share of $1.26 for 1999 and $1.41 for 2000, indicating a compound annual growth rate of 11% for the period 1997-2000. As of December 31, 1999 the Company's Current Stock Price was 10 7/16, Shares Outstanding were 11,390,924 with Equity Market Capitalization Equity Market Capitalization A measure of the total market value of an equity market. The measure is calculated by taking the market capitalization of all companies in the equity market and adding them together to arrive at the capitalization for the market as a whole. of $119 million and a Dividend Yield of 10% representing a annual dividend of $1.04. |
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