|Bid||26.01 x 1000|
|Ask||27.96 x 1200|
|Day's Range||27.01 - 27.99|
|52 Week Range||16.18 - 31.02|
|Beta (3Y Monthly)||1.51|
|PE Ratio (TTM)||37.18|
|Earnings Date||Oct 31, 2019|
|Forward Dividend & Yield||1.28 (4.85%)|
|1y Target Est||32.00|
Moody's Investors Service ("Moody's") today affirmed the B3 Corporate Family Rating of Cooper's Hawk Intermediate Holding, LLC's (Cooper's Hawk), and the B3 rating of its first lien credit facilities after the downsizing of its proposed first lien term loan to $200 million from $225 million. The proposed first lien revolving credit facility will remain $35 million.
ZOM Senior Living and its partners obtained an $89.03 million construction loan to build a senior living facility near the Mall at Wellington Green. It will cover the first phase of the project, which will have 283 independent living, assisted living and memory care units. SunTrust Bank, PNC Bank and Comerica Bank were co-lenders in the mortgage to the developer, a partnership between Orlando-based ZOM, Liberty Senior Living, and Ares Management Corp. (NYSE: ARES).
ZOM Senior Living, Liberty Senior Living, and funds managed by an affiliate of Ares Management Corporation (ARES), have recently closed on construction financing for the development of a 46-acre lakefront parcel, adjacent to The Mall at Wellington Green. The expansive site is in Western Palm Beach County, one of the most affluent regions in the U.S. Construction of Phase 1 is expected to begin immediately and will include 283 premier independent living, assisted living and memory care units. The centerpiece of the community is a two-story, 65,000-square-foot clubhouse and amenity building, replete with multiple dining venues, indoor and outdoor swimming pools, membership-grade spa, salon and wellness center, billiards and cards room, and a theater, to name a few.
Legendary investors such as Jeffrey Talpins and Seth Klarman earn enormous amounts of money for themselves and their investors by doing in-depth research on small-cap stocks that big brokerage houses don't publish. Small cap stocks -especially when they are screened well- can generate substantial outperformance versus a boring index fund. That's why we analyze the […]
INDIANAPOLIS, Oct. 09, 2019 -- Infrastructure and Energy Alternatives, Inc. (NASDAQ: IEA) (“IEA” or the “Company”), a leading infrastructure construction company with.
Ares Management Corporation (ARES) announced today that it will report earnings for the third quarter ended September 30, 2019 on Thursday, October 31, 2019 prior to the opening of the New York Stock Exchange. Ares Management Corporation will hold its webcast/conference call on the same day at 12:00 p.m. (Eastern Time) to discuss its third quarter 2019 financial results. All interested parties are invited to participate via telephone or the live webcast, which will be hosted on a webcast link located on the Home page of the Investor Resources section of our website at http://www.aresmgmt.com.
(Bloomberg Opinion) -- A common finance joke is about how to name a hedge fund or alternative asset manager. Simply pick from the following: A type of tree, a body of water, a stone, a medieval structure, a historical figure or a Greek word. Mash them all together, add “Capital,” “Partners,” “Management” or “Advisers” at the end, and you’re all set.I was reminded of this after seeing some of the biggest firms involved in risky corners of the debt markets, both lenders and investors alike. Bloomberg News’s Lisa Lee reported this week about the burgeoning market for middle-market collateralized loan obligations, which are packed with private loans made to highly leveraged mid-sized companies that banks don’t care to lend to. Two weeks earlier, Bloomberg’s Davide Scigliuzzo highlighted how private equity firms were using “recurring revenue loans” to finance buyouts of businesses that are far from profitable. For the unfamiliar, it’s easy to get lost in this world. And that’s in no small part because of the firm names tossed around. In recurring revenue loans, according to Scigliuzzo’s reporting, there’s Vista Equity Partners, Thoma Bravo, Warburg Pincus and Marlin Equity Partners doing the buyouts of younger companies, and direct lenders like Ares Management Corp., Golub Capital, Monroe Capital and Owl Rock Capital Partners financing the loans.Owl Rock, in turn, priced its first middle-market CLO earlier this year, at a size almost $200 million more than it initially expected. It’s currently marketing another CLO, with pricing expected sometime this month. Golub Capital and Monroe Capital also issued such CLOs, though it’s unclear if recurring revenue loans are packaged into these deals. That opacity is a risk, along with the fact that the secondary market for middle-market CLOs is scant.It’s hard for a typical investor to get interested in those names, as opposed to companies like Tesla or Facebook or General Electric. Plus, at first glance, none of what they’re doing seems overly troublesome. In this era of ultra-low interest rates, it should come as no surprise that the search for returns has led to this sort of behavior. It might seem as if those at risk are merely the aggressive buyout firms and direct lenders.Of course, it’s not that simple. These sorts of products have a tendency to ultimately affect average investors, one way or another. Take business development companies, for example. Ares Capital Corp. is publicly traded (ticker ARCC), meaning anyone with an online brokerage account can buy or sell shares. Its business is to pick winners among U.S. middle-market companies. It was up 23% this year as of mid-September, but has since slumped along with other risk assets. Poor performance among BDCs tends to hurt shareholders more than the managers themselves, as the managers’ fees are generally related to the size of their holdings. And the biggest public shareholders in Ares Capital might ring a bell: Morgan Stanley, Wells Fargo & Co. and Bank of America Corp. all rank in the top 10, according to data compiled by Bloomberg data.Shares of Owl Rock’s BDC (ticker ORCC) began trading in July at $16.13, and closed Thursday at $15.95. Barron’s called it “one of the most closely watched new funds” in alternative investing, in part because its founders came from high-profile positions at Blackstone Group’s credit hedge fund GSO Capital Partners, Goldman Sachs Group Inc. and KKR & Co. The two biggest public owners are the Regents of the University of California and New Jersey’s pension funds, Bloomberg data show. But that’s just one way a pension fund can get involved in this sort of direct lending. The Canada Pension Plan Investment Board, with $400 billion in assets under management, acquired Antares Capital in 2015. Antares is one of the largest middle-market lenders, with $26 billion of assets. Arguably, an investing behemoth with a long-term time horizon is exactly who should be buying middle-market loans. But that’s not where the story ends. Antares Capital, like other firms, has packaged loans into middle-market CLOs. It priced a $505 million CLO in April, along with two offerings of more than $1 billion each last year. The various tranches, including the ones that barely have investment-grade ratings, are at least partly in the hands of life insurance companies. Antares and other CLO managers do have to keep a portion of the securities, under a policy known as risk retention. Still, it’s another way that this growth is permeating throughout the financial system. Even the Church of England’s pension board now favors loans to small- and medium-sized companies.All this is to say, investors shouldn’t just shrug off the explosive growth in direct lending and the push to get a slice of above-market returns. Middle-market CLOs now total $57 billion, almost triple the level of six years ago. It seems like only a matter of time before closed-end funds pop up that invest in these CLOs (if they haven’t already), given that they can sometimes offer 200 basis points more than typical structures. And then, those funds might be suggested to mom-and-pop type investors in search of double-digit yields. Some of the bundles might contain recurring revenue loans. It’s how the cycle goes.As it stands now, the opaque and illiquid market for direct lending probably isn’t big enough to be the single flash point if the credit cycle turns and these companies flounder. But it is widespread enough to cause a lot of people at least some pain. Just because many of the main players sound like they’re straight out of a name generator doesn’t mean Main Street is entirely off the hook.To contact the author of this story: Brian Chappatta at email@example.comTo contact the editor responsible for this story: Beth Williams at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Brian Chappatta is a Bloomberg Opinion columnist covering debt markets. He previously covered bonds for Bloomberg News. He is also a CFA charterholder.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Ares Australia Management Launched to Capitalize on Significant Demand for Alternative Investments in Australian and New Zealand Markets
TAMPA, Fla., Oct. 1, 2019 /PRNewswire/ -- Valet Living, the nation's leading provider of premium home-related amenity services for residential living, today announced the acquisition of Concierge Services of Atlanta, Inc. (CSOA) - the leading concierge service provider for commercial and residential real estate along with a virtual offering for the greater Atlanta area. As Valet Living continues to evolve and gain market dominance as a full-service amenity services provider, the acquisition represents the commitment to deliver a comprehensive experience for multifamily communities.
Moody's Investors Service ("Moody's") assigned first-time new issuer ratings for Cooper's Hawk Intermediate Holding, LLC ("Cooper's Hawk"), including a B3 Corporate Family Rating (CFR) and B3-PD Probability of Default Rating (PDR). In addition, the company's senior secured first lien credit facilities were also rated B3, including its new $225 million 7-year term loan B and $35 million 5-year revolver.
Stock picking expert Mark Minervini shares key tips about the mindset to win with investing. Plus, we analyze AutoZone stock, Lattice stock and Ares stock.
Ares Management Corporation (ARES) (“Ares” or the “Company”) today announced the pricing of its previously announced underwritten public offering of 7,000,000 shares of Class A common stock, par value $0.01 per share, of the Company at a public offering price of $29.90 per share of Class A common stock.
Ares Management Corporation (ARES) (“Ares” or the “Company”) today announced the launch of an underwritten public offering of 7,000,000 shares of Class A common stock, $0.01 par value per share, of the Company. Goldman Sachs & Co. LLC and J.P. Morgan are acting as the underwriters for the offering. A copy of the preliminary prospectus supplement and accompanying prospectus related to the offering can be obtained for free by visiting the Securities and Exchange Commission’s website at http://www.sec.gov or by contacting: (a) Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing Prospectusemail@example.com or (b) J.P. Morgan Securities LLC, Attn: Prospectus Department, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone: 1-866-803-9204.
HOUSTON , Sept. 17, 2019 /PRNewswire/ -- Valet Living , the nation's leading provider of premium home-related amenity services for residential living to over 1.3 million apartment homes nationwide, today ...
Rating Action: Moody's upgrades Panoche's senior secured notes to Caa1 from Caa2. New York, September 11, 2019 -- Moody's Investors Service ("Moody's") has upgraded Panoche Energy Center, LLC's (Panoche or the Project) senior secured notes to Caa1 from Caa2. The upgrade to Caa1 from Caa2 and the outlook revision to positive reflects Pacific Gas & Electric's (PG&E) proposed plan of reorganization that incorporates PG&E assuming its power purchase agreements (PPA).
Moody's Investors Service ("Moody's") today affirmed Midwest Physician Admin Svcs, LLC's (a core operating company of DuPage Medical Group Ltd. referred to herein as "DuPage") B2 Corporate Family Rating ("CFR"), B2-PD Probability of Default Rating and individual debt instrument ratings. Additionally, DuPage's investments in its new surgery centers and behavioral health capabilities should further improve credit metrics.
INDIANAPOLIS, Aug. 30, 2019 -- Infrastructure and Energy Alternatives, Inc. (NASDAQ: IEA) (“IEA” or the “Company”), a leading infrastructure construction company with.
Favorable markets and conversions into C-corps, which kick-started post the 2017 tax overhaul, are providing a boost to shares of private equity firms.