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Regency Affiliates, Inc. invests in assets that generate attractive, predictable, and sustainable returns on capital. The company recently announced a quarterly dividend of 7.5 cents per common share. Regency owns stand-alone self-storage facilities in Harrisburg, Pennsylvania, and has investments in Security West. Despite uncertainties in Security West, the company remains optimistic about the investment and explores alternative uses for the property.
Regency Affiliates, Inc. (OTC Pink: RAFI) has announced a significant stock repurchase. On October 17, 2024, the company acquired 331,500 shares of its outstanding common stock in a privately negotiated transaction with an unaffiliated shareholder. The total purchase price was $1,740,375, equating to $5.25 per share.
Regency intends to retire the repurchased shares in the near future. CEO Laurence Levy expressed satisfaction with the stock repurchase, stating that the company believes it will be accretive to the remaining shareholders. This move demonstrates Regency's commitment to enhancing shareholder value through strategic financial management.
Regency Affiliates, Inc. (OTC Pink: RAFI) has announced the buyout of its self-storage minority partner, SSCP Management This move comes after their 2016 joint venture to purchase five self-storage facilities in Harrisburg, Pennsylvania for $35MM. The acquisition was initially financed with a $25.3MM non-recourse loan at 5% interest, maturing in 2026.
To facilitate the buyout, a Regency subsidiary borrowed $5MM from an unrelated third party. $3MM of this was used to acquire SSCP's 3% membership interest, with the remainder available for general corporate purposes. The new loan has a 10% interest rate, payable monthly, and matures in May 2026.
As a result of this transaction, Regency now owns 100% of the equity interests in the five self-storage facilities. CEO Laurence Levy expressed excitement about the acquisition, citing favorable transaction terms and the benefits of additional liquidity and flexibility from the remaining loan proceeds.
Regency Affiliates (OTC Pink: RAFI) has announced a quarterly dividend of 7.8 cents per common share, payable on October 8, 2024, to shareholders of record as of September 30, 2024. This represents a 4% increase over the October 2023 dividend. The company's portfolio includes five self-storage facilities near Harrisburg, Pennsylvania, acquired for $35MM with $25.3MM in non-recourse debt financing. Regency earns a 7.5% annual preferred distribution on its $11.2MM capital contribution, with surplus cash flow split 80% to Regency and 20% to SSCP Management The company's Security West investment faces uncertainty due to GSA's lease termination, but management remains optimistic about potential alternative uses for the facility.
Regency Affiliates (OTC Pink: RAFI) announced a quarterly dividend of 7.5 cents per common share payable on July 8, 2024. This dividend shows a 3.4% increase over the same period in 2023. The dividend is supported by cash flows from self-storage assets in Harrisburg, Pennsylvania, and cash resources.
Regency's self-storage assets were acquired for $35 million, predominantly financed through a $25.3 million non-recourse debt with a fixed 5% interest rate maturing in 2026. Regency receives a 7.5% preferred distribution on its $11.2 million investment in these assets. The venture generated a $210,576 distribution for Regency in Q2 2024.
Regency also has a 50% interest in the Security West real estate investment. Despite the termination of a lease with the GSA effective November 1, 2023, the partnership remains debt-free and holds $7.5 million in cash. Management is exploring alternative uses for the property.
Regency is exploring further investment opportunities and cost reduction measures to grow its business.
Regency Affiliates, Inc. (OTC Pink: RAFI) announced a quarterly dividend of
Regency Affiliates has declared a quarterly dividend of 7.25 cents per common share, reflecting a 3.6% increase from December 2021. The dividend will be paid on January 5, 2023, to shareholders of record as of December 30, 2022. The company benefits from cash flows generated by management fees from Security West and self-storage assets in Harrisburg, Pennsylvania. Notably, Regency faces uncertainty due to a lease termination notice from GSA, effective November 1, 2023, but remains optimistic about future opportunities for the Security West facility.
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