| 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 real estate investment trust, or REIT, which owns, operates, develops,
and acquires Class A suburban office and industrial real estate in key
submarkets in Southern California, which we believe have strategic advantages
and strong barriers to entry.
As of December 31, 2009, our stabilized portfolio of operating properties was
comprised of 93 office buildings (the "Office Properties") and 41 industrial
buildings (the "Industrial Properties"), which encompassed an aggregate of
approximately 8.7 million and 3.7 million rentable square feet, respectively. As
of December 31, 2009, the Office Properties were approximately 80.6% leased to
286 tenants, and the Industrial Properties were approximately 88.2% leased to 58
tenants. All of our properties are located in Southern California. Our
stabilized portfolio excludes undeveloped land and one industrial property that
we are in the process of reentitling for residential use. ... More ... |
| Date |
12-mos
Rolling EPS |
Dividend |
P/E
Ratio |
| 06/2010 | 0.11 | 0.350 | 270.27 | | 03/2010 | 0.35 | 0.350 | 88.11 | | 12/2009 | 0.47 | 0.350 | 65.26 | | 09/2009 | 0.91 | 0.350 | 30.48 | | 06/2009 | 1.06 | 0.350 | 19.38 | | 03/2009 | 1.00 | 0.580 | 17.19 | | 12/2008 | 1.04 | 0.580 | 32.17 | | 09/2008 | 1.11 | 0.580 | 43.05 |
Key Financial Ratios and Statistics |
FYE:
12/31 |
| Profitability |
2009 |
Leverage |
2009 |
| Net Inc/Comm Equity | 0.04 | Total Liab/Total Assets | 0.58 | | Net Inc/Total Assets | 0.02 | Total Liab/Inv Cap | 0.68 | | Net Inc/Inv Cap | 0.02 | Total Liab/Comm Equity | 1.31 | | Pretax Inc/Net Sales | 0.29 | Interest Coverage Ratio | 2.78 | | Net Inc/Net Sales | 0.13 | Curr Debt/Equity | 0.37 | | Cash Flow/Net Sales | 0.45 | LTD/Equity | 0.79 | | SG&A/NetSales | 0.14 | Total Debt/Equity | 1.16 |
| Asset Utilization
|
|
Liquidity |
|
| Net Receivables Turnover | 5.94 | 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 | 0.15 | | |
Income Statement (Millions) |
| |
6/30/2010
|
3/31/2010
|
12/31/2009
|
9/30/2009
|
|
Total Revenues(Net Sales)
|
72.42
|
66.82
|
67.38
|
68.49
|
|
Cost of Goods Sold
|
21.40
|
18.00
|
18.54
|
19.09
|
|
Selling & Admin Exps
|
6.73
|
7.10
|
17.92
|
7.66
|
|
Operating Income
|
19.63
|
20.45
|
9.73
|
19.54
|
|
Interest Exp
|
13.09
|
11.96
|
11.08
|
10.93
|
|
Pretax Income
|
1.96
|
8.88
|
46.79
|
12.23
|
|
Other Income
|
-4.58
|
0.38
|
0.72
|
3.62
|
|
Net Income Bef Extraordinary ...
|
NA
|
NA
|
NA
|
NA
|
|
Net Income
|
2.02
|
8.69
|
0.79
|
11.91
|
|
Assets
|
6/30/2010
|
3/31/2010
|
12/31/2009
|
9/30/2009
|
|
Cash & Short Term Investments
|
32.91
|
10.77
|
11.94
|
12.20
|
|
Receivables - Total
|
94.16
|
89.96
|
88.31
|
3.14
|
|
Inventories - Total
|
NA
|
NA
|
NA
|
NA
|
|
Total Current Assets
|
NA
|
NA
|
NA
|
NA
|
|
Net Property, Plant & Equipment
|
2,309.36
|
1,932.32
|
1,914.11
|
1,916.95
|
|
Total Assets
|
2,556.51
|
2,112.24
|
2,084.28
|
2,079.00
|
|
Liabilities
|
|
|
|
|
|
Accounts Payable
|
78.19
|
75.50
|
69.67
|
59.70
|
|
Debt in Current Liabilities
|
342.42
|
290.67
|
312.80
|
NA
|
|
Total Current Liabilities
|
NA
|
NA
|
NA
|
NA
|
|
Long-Term Debt
|
838.55
|
732.75
|
677.44
|
983.52
|
|
Total Liabilities
|
1,363.61
|
1,193.02
|
1,200.44
|
1,141.70
|
|
Stockholder's Equity
|
|
|
|
|
|
Minority Interest
|
32.80
|
28.44
|
73.64
|
29.23
|
|
Preferred Stock
|
121.58
|
121.58
|
121.58
|
121.58
|
|
Common Stock
|
0.52
|
0.43
|
0.43
|
0.43
|
|
Retained Earnings
|
-211.56
|
-191.19
|
-180.72
|
-162.39
|
|
Treasury Stock
|
NA
|
NA
|
NA
|
NA
|
|
Total Stockholders' Equity
|
1,119.27
|
845.59
|
854.95
|
863.67
|
|
Total Liabilities and Stockholders' Equity
|
2,482.87
|
2,038.60
|
2,055.39
|
2,005.36
|
Cash Flow Summary (Millions) |
|
Categories
|
6/30/2010
|
3/31/2010
|
12/31/2009
|
9/30/2009
|
|
Net Cash Provided by Operating Activities
|
23.82
|
33.57
|
26.97
|
37.10
|
|
Net Cash Provided by Investing Activities
|
-376.64
|
-37.46
|
-13.08
|
-13.80
|
|
Net Cash Provided by Financing Activities
|
371.52
|
4.75
|
-13.27
|
-27.38
|
Annual Summary Data (Millions) |
| Year |
Sales |
Net
Income |
EPS |
| 12/2005 | 241.72 | 33.82 | -0.11 | | 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 | | Growth Rates | 3.69 | 2.27 | -- |
| Type |
Date(Q,M) |
No.
Owners |
Shares
Held (000s) |
%
Own |
| Institutional | 06/30/10 | 188 | 59,358 | -- |
|
Report Date :
8/30/2010
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