Exantas Capital Corp

Andrew Farkas’ Exantas Capital Reports Quarterly Results

Exantas Capital Corporation (NYSE: XAN) recently reported their results for the three months and year ended December 31, 2018. Exantas Capital is an indirect wholly-owned subsidiary of C-III Capital Partners LLC, which was founded by Mr. Andrew L. Farkas. C-III and its subsidiaries work in commercial real estate investment management, and Exantas specifically specializes in originating, holding, and managing commercial mortgage loans.

In this fourth quarter report, Exantas reported $1.1 billion of new commercial real estate loans and commercial mortgage-back securities during the fiscal year, with $274.9 million originated in the fourth quarter alone. The book value dropped slightly at $14.02 per common share in the fourth quarter, compared to $14.23 per common share at the end of the third quarter. The GAAP net income allocable to common shares was $0.23 per common share. This is significantly better than the loss of -$0.28 per share at the end of the fourth quarter of 2017.

Exantas’ consolidated balance sheets show an increase from year-end 2017 to year-end 2018 in total assets and total liabilities and stockholders’ equity. This reflects an increase in CRE loans, company borrowings, and distributions payable, among other things.

Exantas Capital Corporation is a leader in CRE credit investments, and effectively leverages C-III Capital Partners’ capabilities to better serve its clients. By using C-III’s asset management platform, Exantas is able to provide clients with unique insights into real estate markets. Mr. Farkas has served as Chairman and CEO of C-III Capital Partners since its founding in 2010, and his extensive real estate experience has led C-III and its subsidiaries to success in the real estate investment industry.

Exantas Capital Corp. Declares Dividend

Exantas Capital Corporation, listed on the NYSE as XAN, recently declared a dividend of $0.10 per share. The dividend will be paid out on July 7th to shareholders of record on June 29th. The real estate finance service was founded in 2005 by Mr. Andrew Farkas, who currently holds the position of Chairman of the company. Exantas is also a subsidiary of Mr. Farkas’ company C-III Capital Partners, of which he is currently Chairman and Chief Executive Officer.

Exantas Capital currently has a debt-to-equity ratio of 2.22, and both its quick ratio and current ratio are 130.99. The market capitalization as of the end of June 2018 was $324.73 million. In the past year, the stock price has reached a high of $11.38 per share, and a low of $8.51 per share.

Exantas reported its quarterly earnings results in May 2018 for the quarter ending March 31, 2018. Earnings per share were $0.28, and the company had a net margin of 57.71%. Revenue for the quarter totaled $11.57 million. The last dividend that the company declared was $0.05 per share, declared on March 20th, 2018 and paid on April 27th, 2018.

Exantas Capital Corp. has been investing in commercial real estate loans for several years. As a subsidiary of C-III, they are able to utilize the parent company’s capabilities, expertise and information to make smarter investments. Under Mr. Farkas’ leadership, the company has grown significantly. C-III now has over $8 billion of assets under management, and Exantas’ investment portfolio is valued at just under $2 million.

 Scroll to top