On Friday, Nationstar Mortgage Holdings Inc (NYSE:NSM)’s shares declined -2.06% to $18.55.
Recently Nationstar Mortgage Holdings Inc. (NSM) a leading residential mortgage services company, stated financial results for its second quarter ended June 30, 2015.
Nationstar stated quarterly net income of $75 million, or $0.69 per share, for the second quarter, contrast to net loss of ($48) million, or ($0.53) per share, in the first quarter 2015. Adjusted earnings for the second quarter were $35 million or $0.32 per share, up 57% contrast to the preceding quarter. The second quarter results comprise $52 million or $0.47 per share of after tax benefits resulting from the net enhance in value associated with mortgage servicing rights and related liabilities accounted for at fair value and $10 million of after tax expense or $0.10 per share principally related to streamlining operations, counting severance.
Notably, adjusted pretax income for the servicing segment raised $16 million sequentially as a result of raised incentive fees due to continued strong operational performance and higher base servicing fees given the larger servicing portfolio. Originations delivered another strong quarter of adjusted pretax income of $59 million driven by the favorable rate environment and focused execution. Xome achieved continual top line growth of $14 million sequentially, driven principally by an enhance in property sales.
Nationstar Mortgage Holdings Inc. provides servicing, origination, and transaction based services to single-family residences in the United States. It operates in three segments: Servicing, Originations, and Solutionstar. The Servicing segment offers residential mortgage services, such as loan administration, payment processing, mortgage escrow account administration, collection of insurance premiums, and response to homeowner inquiries, in addition to loss mitigation solutions, counting loan modifications and supervision of foreclosures and property dispositions on behalf of the owners of the loans.
First Industrial Realty Trust, Inc. (NYSE:FR)’s shares gained 4.23% to $20.94.
First Industrial Realty Trust, Inc. (FR), a leading fully-integrated owner, operator and developer of industrial real estate, declared results for the second quarter of 2015. Diluted net income accessible to common stockholders per share (EPS) was $0.13, contrast to $0.04 in the year ago quarter.
Portfolio Performance – Second Quarter 2015
- In-service occupancy was 95.1% at the end of the second quarter, contrast to 94.3% at the end of the first quarter of 2015, and 93.0% at the end of the second quarter of 2014.
- Tenants were retained in 83.4% of square footage up for renewal.
- Same property cash basis net operating income (NOI) raised 4.7%. Counting lease termination fees, same property NOI raised 5.3%. Both measures exclude the impact of the $0.8 million portion of a one-time restoration fee recognized during the second quarter of 2014.
- Rental rates raised 4.0% on a cash basis and raised 11.9% on a GAAP basis; leasing costs were $2.92 per square foot.
First Industrial Realty Trust Inc. is a real estate investment trust. The firm invests in the real estate markets of the United States. It makes investments in industrial properties. The firm owns, manages, acquires, sells, develops, and redevelops industrial real estate. First Industrial Realty Trust Inc. formed on August 10, 1993 and is domiciled in the United States.
At the end of Friday’s trade, Praxair, Inc. (NYSE:PX)‘s shares dipped -0.11% to $114.14.
The board of directors of Praxair, Inc. (PX) has declared a quarterly dividend of 71.5 cents per share, unchanged from the previous quarter. The dividend is payable on September 15, 2015 to shareholders of record on September 8, 2015.
The board of directors has also authorized a new share repurchase program for up to $1.5 billion of Praxair’s common stock. Praxair has about $500 million of repurchase authority accessible under its formerly declared buyback authorization from January 2014, giving it about $2.0 billion accessible for stock repurchases under these programs.
Praxair, Inc. produces, sells, and distributes atmospheric, process, and specialty gases, in addition to surface coatings in North America, Europe, South America, and Asia. The company offers atmospheric gases, such as oxygen, nitrogen, argon, and rare gases; and process gases comprising carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.
ONEOK, Inc. (NYSE:OKE), ended its Friday’s trading session with -0.32% loss, and closed at $37.79.
ONEOK Partners, L.P. (OKS) declared plans to invest $70 million to $100 million to expand its ONEOK WesTex Transmission (ONEOK WesTex) intrastate natural gas pipeline system by increasing its throughput capacity by 260 million cubic feet per day (MMcf/d) of natural gas by the first quarter 2017.
The ONEOK WesTex expansion project, located in the Texas Panhandle and the Permian Basin in West Texas, comprises the construction of two new compressor stations and upgrades or expansions to three existing compressor stations. Total added horsepower is predictable to be about 38,800. ONEOK WesTex, which had qualifying open season bids in excess of 500 MMcf/d, will utilize 240 MMcf/d of existing capacity and create additional capacity by expanding its system by 260 MMcf/d. Ninety percent of this total accessible capacity was subscribed with firm take-or-pay agreements through an open season process that ran from Feb. 2, 2015, to Feb. 27, 2015.
The Comision Federal de Electricidad (CFE), Mexico’s national electric utility, has agreed to be the anchor shipper and has subscribed to firm capacity (take-or-pay) for a 25-year term. CFE generates, distributes and markets electric power for almost 35.3 million customers in Mexico. According to the CFE, this long-term transportation position supports CFE’s strategy to bring natural gas to Mexico, which is a cleaner and less expensive fuel alternative for power generation in Mexico.
ONEOK, Inc., through its general partner interests in ONEOK Partners, L.P., engages in the gathering, processing, storage, and transportation of natural gas in the United States. The company gathers, treats, fractionates, stores, and transports natural gas liquids (NGL), in addition to owns natural gas liquids gathering and distribution pipelines, natural gas liquids distribution and refined petroleum products pipelines, and terminal and storage facilities; and owns and operates interstate and intrastate regulated natural gas transmission pipelines and natural gas storage facilities, in addition to stores and distributes NGL products to petrochemical manufacturers, heating fuel users, ethanol producers, refineries, and propane distributors.
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