Tag Archives: Colony Financial

Business, Finance, Occupation & Industry

Colony Financial, Inc. Announces Pricing of Convertible Senior Notes

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By Business Wirevia The Motley Fool

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Colony Financial, Inc. Announces Pricing of Convertible Senior Notes

LOS ANGELES–(BUSINESS WIRE)– Colony Financial, Inc. (the “Company”) (NYS: CLNY) today announced the pricing of its public offering of $175,000,000 aggregate principal amount of its 5.00% Convertible Senior Notes due 2023 (the “Notes”) for total gross proceeds of $175 million. The Company has granted to the underwriters a 30-day option to purchase up to an additional $25,000,000 aggregate principal amount of the Notes to cover over-allotments, if any. The Notes will bear interest at a rate equal to 5.00% per year, payable semiannually in arrears on April 15 and October 15 of each year, beginning on October 15, 2013. The conversion rate will initially equal 42.3819 shares of common stock per $1,000 principal amount of Notes, which is equivalent to a conversion price of approximately $23.60 per share of common stock, representing a 10% conversion premium based on the closing price of the Company’s common stock of $21.45 per share on April 4, 2013. The initial conversion rate is subject to adjustment upon the occurrence of certain events, but will not be adjusted for any accrued and unpaid interest. The Notes will mature on April 15, 2023. The offering is expected to close on or about April 10, 2013, subject to customary closing conditions.

The Company intends to use the net proceeds from the offering to acquire its target assets in a manner consistent with its investment strategies and investment guidelines and for working capital and general corporate purposes.

Goldman, Sachs & Co., BofA Merrill Lynch, Credit Suisse and J.P. Morgan are acting as the joint book-running managers for this offering.

The offering of the Notes will be made under the Company’s automatically effective shelf registration statement, which was filed with the Securities and Exchange Commission. The offering will be made only by means of a prospectus supplement and prospectus, which have been filed with the Securities and Exchange Commission. Before you invest, you should read the applicable prospectus supplement and prospectus for more complete information about the Company and the offering. You may obtain these documents free of charge by visiting the SEC website at www.sec.gov. Alternatively, you may obtain copies by contacting Goldman, Sachs & Co., at 200 West Street, New York, NY 10282,Attention: Prospectus Department, by telephone at 1-866-471-2526 or by emailing prospectus-ny@ny.email.gs.com, BofA Merrill Lynch, at 222 Broadway, New York, NY 10038, Attention: Prospectus Department or by emailing dg.prospectus_requests@baml.com, Credit Suisse Securities (USA) LLC at One Madison Avenue, New York, New York 10010, Attention: Prospectus Department, by telephone (toll …read more

Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Colony Financial, Inc. Announces Public Offering of Convertible Senior Notes

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By Business Wirevia The Motley Fool

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Colony Financial, Inc. Announces Public Offering of Convertible Senior Notes

LOS ANGELES–(BUSINESS WIRE)– Colony Financial, Inc. (the “Company”) (NYS: CLNY) today announced its plans to commence a public offering of $150,000,000 aggregate principal amount of Convertible Senior Notes due 2023 (the “Notes”). The Company also plans to grant to the underwriters a 30-day option to purchase up to an additional $22,500,000 aggregate principal amount of the Notes to cover over-allotments, if any. The interest rate, conversion rate and other terms of the Notes will be determined at the time of pricing of the offering.

The Company intends to use the net proceeds from the offering to acquire its target assets in a manner consistent with its investment strategies and investment guidelines and for working capital and general corporate purposes.

Goldman, Sachs & Co., BofA Merrill Lynch, Credit Suisse and J.P. Morgan will act as the joint book-running managers for this offering.

The offering of the Notes will be made under the Company’s automatically effective shelf registration statement, which was filed with the Securities and Exchange Commission. The offering will be made only by means of a prospectus supplement and prospectus, which will be filed with the Securities and Exchange Commission. Before you invest, you should read the applicable prospectus supplement and prospectus for more complete information about the Company and the offering. You may obtain these documents free of charge by visiting the SEC website at www.sec.gov. Alternatively, you may obtain copies, when available, by contacting Goldman, Sachs & Co., at 200 West Street, New York, NY 10282, Attention: Prospectus Department, by telephone at 1-866-471-2526 or by emailing prospectus-ny@ny.email.gs.com, BofA Merrill Lynch, at 222 Broadway, New York, NY 10038, Attention: Prospectus Department or by emailing dg.prospectus_requests@baml.com, Credit Suisse Securities (USA) LLC at One Madison Avenue, New York, New York 10010, Attention: Prospectus Department, by telephone (toll free) at (800) 221-1037 or by e-mailing newyork.prospectus@credit-suisse.com, or J.P. Morgan Securities LLC c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or by telephone at (866) 803-9204.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Colony Financial, Inc.
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Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

The 25 Highest-Yielding REITs in March

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By Dan Dzombak, The Motley Fool

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Dividend investing is popular again. Investors have taken to heart Jeremy Siegel’s studies, which show that higher-yielding stocks tend to offer greater returns over time than low- or no-yield stocks do.

The highest dividend yields can be very tantalizing. As long as a stock yielding 15% doesn’t lose value, you’ll make 15% in one year! In more cases than not, however, an astronomical yield is a bad sign for a stock. Since dividend yields and stock prices move in opposite directions, a high yield usually means investors have begun to worry about the business and driven down its stock price.

Most real estate companies are organized as real estate investment trusts, or REITs. They do this so that they can get around the double taxation issue that most investors face. REITs don’t pay taxes as long as they distribute at least 90% of their income as dividends. The investor holding shares of the REIT then has to pay taxes on those dividends as though they’re income. That differs from most dividends, which are taxed at a lower rate.

Dividends aren’t guaranteed; you need to make sure a business is generating enough cash to pay its dividend, or your investment could be disastrous. So I ran a screen for the highest-yielding REITs, and the only limitation I set is they must have a market cap greater than $1 billion.

Here are the top 25 highest-yielding REITs the screen produced.

<td …read more
Source: FULL ARTICLE at DailyFinance

Rank

Company Name

Market Cap (Millions)

Dividend Yield

1

American Capital Agency

$12,913

15.20%

2

ARMOUR Residential REIT

$2,345

14.60%

3

American Capital Mortgage Investment

$1,546

13.70%

4

Annaly Capital Management

$14,673

13.30%

5

Two Harbors Investment

$4,079

12.60%

6

Invesco Mortgage Capital

$2,903

12.10%

7

Capstead Mortgage

$1,239

11.70%

8

Chimera Investment

$3,288

11.30%

9

Hatteras Financial

$2,756

10.20%

10

MFA Financial

$3,291

9.18%

11

PennyMac Mortgage Investment Trust

$1,509

8.94%

12

Crexus Investment

$1,023

8.84%

13

Newcastle Investment

$2,902

7.77%

14

NorthStar Realty Finance

$1,580

7.65%

15

Hospitality Properties Trust

$3,321

7.07%

16

Government Properties Income Trust

$1,382

6.83%

17

American Realty Capital Properties

$2,187

6.37%

18

Colony Financial

$1,425

6.37%

19

EPR Properties

$2,353

6.35%

20

Omega Healthcare Investors

$3,231

6.33%

21
Business, Finance, Occupation & Industry

Colony Financial Announces First Quarter 2013 Dividends on Shares of Common and Preferred Stock

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By Business Wirevia The Motley Fool

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Colony Financial Announces First Quarter 2013 Dividends on Shares of Common and Preferred Stock

LOS ANGELES–(BUSINESS WIRE)– Colony Financial, Inc. (the “Company”) (NYS: CLNY) today announced that the Company’s Board of Directors has declared cash dividends on shares of both its common and preferred stock for the first quarter of 2013. The Company’s dividend policy is set by its Board of Directors and is evaluated based upon the deployment of the Company’s capital and its taxable earnings and cash flow.


Common Stock Dividend

The Company’s Board of Directors has declared a quarterly dividend of $0.35 per common share for the first quarter of 2013. The dividend will be paid on April 15, 2013, to stockholders of record on March 28, 2013.


8.50% Series A Cumulative Perpetual Preferred Stock

The Company’s Board of Directors has declared a cash dividend of $0.53125 per share on the Company’s 8.50% Series A Cumulative Perpetual Preferred Stock with a liquidation preference of $25 per share for the quarterly period ending April 15, 2013. The dividend will be paid on April 15, 2013, to stockholders of record on March 28, 2013.

About Colony Financial, Inc.

Colony Financial, Inc. is a real estate investment and finance company that is focused on acquiring, originating and managing a diversified portfolio of opportunistic real estate-related debt and equity investments at attractive risk-adjusted returns. Our investment portfolio and target assets are primarily composed of interests in: (i) secondary loans acquired at a discount to par; (ii) new originations; and (iii) equity in single family homes to be held for investment and rented to tenants. Secondary debt purchases may include performing, sub-performing or non-performing loans (including loan-to-own strategies). Colony Financial has elected to be taxed as a real estate investment trust, or REIT, for U.S. federal income tax purposes. Colony Financial is a component of the Russell 2000® and the Russell 3000® indices. For more information, visit www.colonyfinancial.com.

Forward-Looking Statements
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Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Colony Financial Announces Key Dates for Annual Meeting of Stockholders

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By Business Wirevia The Motley Fool

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Colony Financial Announces Key Dates for Annual Meeting of Stockholders

LOS ANGELES–(BUSINESS WIRE)– Colony Financial, Inc. (NYS: CLNY) (the “Company”) today announced that it has scheduled its 2013 Annual Meeting of Stockholders for May 6, 2013. The record date for determination of stockholders entitled to vote at the meeting is March 25, 2013.

The meeting will be held at 9:00 a.m. ET on Monday, May 6, 2013, at the offices of Bank of America Merrill Lynch, located at Bank of America Tower, One Bryant Park (corner of 42nd Street and 6th Avenue), New York, New York 10036.

About Colony Financial, Inc.

Colony Financial, Inc. is a real estate investment and finance company that is focused on acquiring, originating and managing a diversified portfolio of opportunistic real estate-related debt and equity investments at attractive risk-adjusted returns. Our investment portfolio and target assets are primarily composed of interests in: (i) secondary loans acquired at a discount to par; (ii) new originations; and (iii) equity in single family homes to be held for investment and rented to tenants. Secondary debt purchases may include performing, sub-performing or non-performing loans (including loan-to-own strategies). Colony Financial has elected to be taxed as a real estate investment trust, or REIT, for U.S. federal income tax purposes. Colony Financial is a component of the Russell 2000® and the Russell 3000® indices. For more information, visit www.colonyfinancial.com.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” or “potential” or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond the Company’s control, that may cause actual results to differ significantly from those expressed in any forward-looking statement. Statements regarding the following subjects, among others, may be forward-looking: business and investment strategy; investment portfolio; projected operating results; ability to obtain financing …read more
Source: FULL ARTICLE at DailyFinance