| Address:
|
12200 W. OLYMPIC BLVD., SUITE 200
|
| City: |
LOS ANGELES |
|
State: |
CA |
|
Zip Code: |
90064 |
| Telephone: |
310-481-8400 |
|
Description of Business
|
Primary SIC Code:
6798 |
| (As filed with the SEC)
|
|
|
We are a self-administered REIT active in premier office and industrial
submarkets along the West Coast. We own, develop, acquire and manage primarily
Class A real estate assets in the coastal regions of Los Angeles, Orange County,
San Diego, greater Seattle and the San Francisco Bay Area, which we believe have
strategic advantages and strong barriers to entry. Class A real estate
encompasses attractive and efficient buildings of high quality that are
attractive to tenants, are well-designed and constructed with above-average
material, workmanship and finishes and are well-maintained and managed. We
qualify as a REIT under the Internal Revenue Code of 1986, as amended (the
"Code").
As of December 31, 2010, our stabilized portfolio was comprised of the following
office buildings (the "Office Properties") and industrial buildings (the
"Industrial Properties"). ... More ... |
| Date |
12-mos
Rolling EPS |
Dividend |
P/E
Ratio |
| 09/2011 | -0.03 | 0.350 | N/E | | 06/2011 | 0.00 | 0.350 | N/E | | 03/2011 | -0.05 | 0.350 | N/E | | 12/2010 | 0.05 | 0.350 | 729.40 | | 09/2010 | -0.07 | 0.350 | N/E | | 06/2010 | 0.11 | 0.350 | 270.27 | | 03/2010 | 0.35 | 0.350 | 88.11 | | 12/2009 | 0.47 | 0.350 | 65.26 |
Key Financial Ratios and Statistics |
FYE:
12/31 |
| Profitability |
2010 |
Leverage |
2010 |
| Net Inc/Comm Equity | 0.02 | Total Liab/Total Assets | 0.59 | | Net Inc/Total Assets | 0.01 | Total Liab/Inv Cap | 0.67 | | Net Inc/Inv Cap | 0.01 | Total Liab/Comm Equity | 1.37 | | Pretax Inc/Net Sales | 0.06 | Interest Coverage Ratio | 1.32 | | Net Inc/Net Sales | 0.07 | Curr Debt/Equity | 0.31 | | Cash Flow/Net Sales | 0.40 | LTD/Equity | 1.03 | | SG&A/NetSales | 0.09 | Total Debt/Equity | 1.34 |
| Asset Utilization
|
|
Liquidity |
|
| Net Receivables Turnover | 3.29 | Quick Ratio | NA | | Inventory Turnover | NA | Current Ratio | NA | | Inventory Day Sales | NA | Net Rec/Curr Assets | NA | | Net Sales/Work Cap | NA | Inv/Curr Assets | NA | | Net Sales/PP&E | 0.12 | | |
Income Statement (Millions) |
| |
9/30/2011
|
6/30/2011
|
3/31/2011
|
12/31/2010
|
|
Total Revenues(Net Sales)
|
96.25
|
92.06
|
88.13
|
84.51
|
|
Cost of Goods Sold
|
28.08
|
26.42
|
26.20
|
23.61
|
|
Selling & Admin Exps
|
6.36
|
7.44
|
6.56
|
6.87
|
|
Operating Income
|
24.70
|
24.64
|
25.56
|
24.23
|
|
Interest Exp
|
24.05
|
21.23
|
20.88
|
19.04
|
|
Pretax Income
|
0.68
|
3.47
|
4.87
|
5.45
|
|
Other Income
|
0.03
|
0.06
|
0.18
|
0.26
|
|
Net Income Bef Extraordinary ...
|
NA
|
NA
|
NA
|
NA
|
|
Net Income
|
13.99
|
3.48
|
4.83
|
5.33
|
|
Assets
|
9/30/2011
|
6/30/2011
|
3/31/2011
|
12/31/2010
|
|
Cash & Short Term Investments
|
40.92
|
26.76
|
8.61
|
16.30
|
|
Receivables - Total
|
110.53
|
102.69
|
98.21
|
95.31
|
|
Inventories - Total
|
NA
|
NA
|
NA
|
NA
|
|
Total Current Assets
|
NA
|
NA
|
NA
|
NA
|
|
Net Property, Plant & Equipment
|
3,016.10
|
2,931.98
|
2,570.65
|
2,544.44
|
|
Total Assets
|
3,367.68
|
3,264.79
|
2,841.93
|
2,816.57
|
|
Liabilities
|
|
|
|
|
|
Accounts Payable
|
115.62
|
89.23
|
99.29
|
88.91
|
|
Debt in Current Liabilities
|
503.37
|
503.94
|
472.97
|
342.20
|
|
Total Current Liabilities
|
NA
|
NA
|
NA
|
NA
|
|
Long-Term Debt
|
1,285.60
|
1,204.30
|
1,014.52
|
1,114.77
|
|
Total Liabilities
|
2,032.78
|
1,920.95
|
1,696.57
|
1,656.58
|
|
Stockholder's Equity
|
|
|
|
|
|
Minority Interest
|
33.07
|
33.33
|
30.80
|
31.38
|
|
Preferred Stock
|
121.58
|
121.58
|
121.58
|
121.58
|
|
Common Stock
|
0.59
|
0.59
|
0.52
|
0.52
|
|
Retained Earnings
|
-296.48
|
-285.92
|
-264.85
|
-247.25
|
|
Treasury Stock
|
NA
|
NA
|
NA
|
NA
|
|
Total Stockholders' Equity
|
1,261.27
|
1,270.20
|
1,071.72
|
1,086.35
|
|
Total Liabilities and Stockholders' Equity
|
3,294.05
|
3,191.15
|
2,768.30
|
2,742.93
|
Cash Flow Summary (Millions) |
|
Categories
|
9/30/2011
|
6/30/2011
|
3/31/2011
|
12/31/2010
|
|
Net Cash Provided by Operating Activities
|
57.60
|
12.67
|
43.80
|
24.90
|
|
Net Cash Provided by Investing Activities
|
-117.70
|
-374.38
|
-61.14
|
-267.12
|
|
Net Cash Provided by Financing Activities
|
50.17
|
380.42
|
9.21
|
248.75
|
Annual Summary Data (Millions) |
| Year |
Sales |
Net
Income |
EPS |
| 12/2006 | 251.24 | 81.86 | 1.07 | | 12/2007 | 258.47 | 113.82 | 0.95 | | 12/2008 | 289.97 | 44.12 | 1.04 | | 12/2009 | 279.43 | 36.99 | 0.47 | | 12/2010 | 301.98 | 19.71 | 0.05 | | Growth Rates | 4.71 | -29.95 | -53.51 |
| Type |
Date(Q,M) |
No.
Owners |
Shares
Held (000s) |
%
Own |
| Institutional | 12/31/11 | 191 | 68,558 | -- |
|
Report Date :
1/30/2012
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