Neither the SEC, NAREIT, nor any other applicable regulatory body has opined on the acceptability of the adjustments contemplated to adjust FFO in order to calculate MFFO and its use as a non-GAAP performance measure. As of September 30, 2018 and prior to the self-administration transaction. This page is being updated. What is Griffin Capital Essential Asset REIT II, Inc. Class E Shares' stock price today? Class I shares and institutional have no sales charge and may be purchased by specified classes of investors. All Rights Reserved. Dividends - World. All rights reserved. Fundamental Data provided by DividendInvestor.com. Get 30 Days of MarketBeat All Access Free, Sign in to your free account to enjoy these benefits. *Includes the property information related to interests held in certain joint ventures. All product and company names, logos and slogans are the trademarks or service marks of their respective owners. Griffin Capital Essential Asset REIT II, Inc. Class E Shares trades on the New York Stock Exchange (NYSE)ARCA under the ticker symbol "ZGEAEX.". If we acquire a property after all offering proceeds from our Public Offerings have been invested, there will not be any offering proceeds to pay the corresponding acquisition-related costs. Its approach is to construct a pool of properties diversified by corporate credit, physical geography, product type and lease maturity. Because FFO calculations exclude such items as depreciation and amortization of real estate assets and gains and losses from sales of operating real estate assets (which can vary among owners of identical assets in similar conditions based on historical cost accounting and useful-life estimates), they facilitate comparisons of operating performance between periods and between other REITs. As straight-line rent is a GAAP non-cash adjustment and is included in historical earnings, FFO is adjusted for the effect of straight-line rent to arrive at MFFO as a means of determining operating results of our portfolio. Nareit's members are REITs and other businesses throughout the world that own, operate, and finance income-producing real estate, as well as those firms and individuals who advise, study, and service those businesses. Touch device users, explore by touch or with swipe gestures. IPO Calendar Earnings Calendar Dividend Calendar Economic Calendar. General assumptions include: XYZ firm would have been able to purchase the securities recommended by the model and the markets were sufficiently liquid to permit all trading. Led by senior executives, each with more than two decades of real estate experience collectively encompassing over $25 billion of transaction value and more than 650 transactions, Griffin Capital and its affiliates have acquired or constructed approximately 33 million square feet of space since 1995. DividendInvestor.com features a variety of tools, articles, and resources designed to help investors interested in dividend stocks find the best dividend stocks to buy. Apple's next ex-dividend date has not been announced yet. Blue chip and investment grade descriptions are those of either tenants and/ or guarantors with investment grade credit ratings or whose non-guarantor parent companies have investment grade credit ratings or what management believes are generally equivalent ratings. Griffin Realty Trust uses cookies and processes data like IP-addresses or browser information to help us compile aggregate data about site traffic and site interaction so that we can offer better user experiences. 2023 Griffin Capital Company, LLC. Currency in USD Follow 2W 10W 9M 7.43 -2.08 (-21.87%) As of 08:06AM EST. On December 17, 2014, we sold an asset for $10.95 million that we considered to be non-core to the portfolio, the Eagle Rock Executive Office Center located in Hanover, New Jersey, which was acquired with the Investment Grade Portfolio in November 2013. In accordance with GAAP, these periodic minimum rent payment increases during the term of a lease are recorded to rental revenue on a straight-line basis in order to reconcile the difference between accrual and cash basis accounting. "Coupled with our fourth quarter acquisition of three high quality assets in the Midwest and the Charlotte metropolitan area, and our successful sale of an asset we considered to be non-core to our strategy, we concluded 2014 by continuing our efforts to maximize shareholder value and create a best-in-class property portfolio. Financed termination fee. "The Essential Asset REIT capped off a spectacular 2014 with our entry into a definitive merger agreement with Signature Office REIT, Inc., a non-traded REIT with a property portfolio consisting of 15 office buildings, in November 2014. Griffin Capital Essential Asset REIT, Inc is a public non-listed REIT focused on acquiring business essential single-tenant office and industrial properties net leased for long duration to creditworthy corporate tenants. Create your Watchlist to save your favorite quotes on Nasdaq.com. INVESTORS ARE URGED TO READ THESE DOCUMENTS CAREFULLY AND IN THEIR ENTIRETY. How have ZGEAEX shares performed in 2023? The firm manages, sponsors or co-sponsors a suite of carefully curated, institutional quality investment solutions distributed by Griffin Capital Securities, LLC to retail investors through a community of partners, including independent and insurance broker-dealers, national wirehouses, registered investment advisory firms and the financial advisors who work with these enterprises. Most of our leases provide for periodic minimum rent payment increases throughout the term of the lease. The results reflect performance of a strategy not historically offered to investors and does not represent returns that any investor actually attained. Our daily ratings and market update email newsletter. MFFO is useful in assisting management and investors in assessing our on-going ability to generate cash flow from operations and continue as a going concern in future operating periods, and in particular, after the offering and acquisition stages are complete and NAV is disclosed. On November 21, 2014, we entered into a Merger Agreement with Signature Office REIT ("SOR") in connection with the proposed merger of SOR with and into our wholly-owned subsidiary, with our wholly-owned subsidiary as the surviving company (the "Merger"). With the risk of recession a dominant theme for 2023, Nareits Ed Pierzak explains that a recession does not have to equate to negative property total returns.. Additionally, publicly registered, non-listed REITs typically have a significant amount of acquisition activity and are substantially more dynamic during their initial years of investment and operation. The property is leased, on a triple-net basis, to General Electric Company, obligating GE to all operating and maintenance expenses and certain capital expenditures. EL SEGUNDO, Calif., March 26, 2015 (GLOBE NEWSWIRE) -- Griffin Capital Essential Asset REIT, Inc. (the "Essential Asset REIT," "we," "us," "our") announced today its operating results for the year ended December 31, 2014. Griffin Capital Essential Asset REIT II, Inc. Class I Shares, Do Not Sell My Personal Information (CA Residents Only). The above-market and below-market lease values are capitalized as intangible lease assets or liabilities and amortized as an adjustment to rental income over the remaining terms of the respective leases. Nelson Mullins Riley & Scarborough LLP is providing legal counsel to GCEAR, and Venable LLP is providing legal counsel to GCEARs special committee of the board of directors. Approximately 67% of our portfolio's net rental revenue is generated by investment grade-rated companies that either lease the properties directly, have its lease guaranteed by an investment grade-rated company, or have a parent company that carries an investment grade rating. See what's happening in the market right now with MarketBeat's real-time news feed. If you disable this cookie, we will not be able to save your preferences. Certain directors and executive officers of GCEAR and/or GCEAR II and other persons may have direct or indirect interests in the merger due to securities holdings, pre-existing or future indemnification arrangements and rights to severance payments and retention bonuses if their employment is terminated prior to or following the merger. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. To see all exchange delays and terms of use please see Barchart's disclaimer. Your password must be at least 8 characters long and contain at least 1 number, 1 letter, and 1 special character. The acquisition value of the property was $187.5 million, including closing costs, which was partially financed with stand-alone credit facility of $102.0 million. The Merger is subject to customary closing conditions, including the receipt of approval of SOR's stockholders, thus, there is no guarantee that the Merger will be consummated. This merger combines two highly complementary portfolios with similar construction and investment mandates, significantly increasing the size, scale, and diversification of the combined company. MFFO also allows for a comparison of the performance of our portfolio with other REITs that are not currently engaging in acquisitions, as well as a comparison of our performance with that of other non-traded REITs, as MFFO, or an equivalent measure, is routinely reported by non-traded REITs, and we believe often used by analysts and investors for comparison purposes. Griffin Capital Essential Asset REIT II, Inc. Class E Shares (ZGEAEX) Nasdaq - Nasdaq Delayed Price. View the best growth stocks for 2023 here. Enter Your Email Below To Claim Your Report: New Report from the Award-winning Analyst Who Beat the Market Over 15 Years. The curriculum will cover each aspect of ESGtopics include program planning, implementation and reporting, DEI initiatives, climate change and carbon accounting. Backtested results are adjusted to reflect the reinvestment of dividends and other income and, except where otherwise indicated, are presented gross-of fees and do not include the effect of backtested transaction costs, management fees, performance fees or expenses, if applicable. As explained below, management's evaluation of our operating performance excludes items considered in the calculation of MFFO based on the following economic considerations: For all of these reasons, we believe the non-GAAP measures of FFO and MFFO, in addition to income (loss) from operations, net income (loss) and cash flows from operating activities, as defined by GAAP, are helpful supplemental performance measures and useful to investors in evaluating the performance of our real estate portfolio. Please note all regulatory considerations regarding the presentation of fees must be taken into account. While other start-up entities may also experience significant acquisition activity during their initial years, we believe that non-listed REITs are unique in that they have a limited life with targeted exit strategies within a relatively limited time frame after the acquisition activity ceases. Is Dividend King PPG Industries A Buy Before Earnings? Yes, GCEA has paid a dividend within the past 12 months. No less frequently than annually, we evaluate events and changes in circumstances that could indicate that the carrying amounts of real estate and related intangible assets may not be recoverable. Tietosuojakytnnstmme ja evstekytnnstmme voit lukea listietoa siit, miten kytmme tietojasi. Dividend History - Griffin Capital Essential Asset REIT II, Inc. - Weiss Ratings Stocks & Funds ETF Ratings U Griffin Capital Essential Asset REIT II, Inc. Founded in 1995, the privately held firm is led by a seasoned team of senior executives with more than two decades of investment and real estate experience and who collectively have executed more than 650 transactions valued at over $22 billion. The REIT's sponsor, Griffin Capital Corporation ("Griffin Capital"), is a privately-owned real estate company headquartered in Los Angeles. Dr. Randy Anderson offers latest real estate sector picks on Fox Business Claman Countdown, Investing in Real Estate as a Hedge Against Inflation. On August 5, 2022 the Company announced significant new information: a lower Net Asset Value (NAV) of $7.43 as of June 30, 2022, an amended and restated Share Redemption Program (SRP), and a restructuring proposal to split the Company into 2 separate entities. Compare Top Brokerages Here. Returns assume reinvestment of dividends and capital gains. United States. In order to mitigate our interest rate risk on certain financial instruments, if any, we may enter into interest rate cap agreements or other hedge instruments and in order to mitigate our risk to foreign currency exposure, if any, we may enter into foreign currency hedges. Management will no longer consider the effect of the amortization of these financing costs in operating models and also believes that this loss is considered an isolated event not associated with our operations and, therefore, deems this write off to be an exclusion from MFFO. Acquired in-place leases are valued as above-market or below-market as of the date of acquisition based on the present value of the difference between (a) the contractual amounts to be paid pursuant to the in-place leases and (b) management's estimate of fair market lease rates for the corresponding in-place leases over a period equal to the remaining non-cancelable term of the lease for above-market leases. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. Additionally, we believe it is appropriate to disregard impairment charges, as this is a fair value adjustment that is largely based on market fluctuations, assessments regarding general market conditions, and the specific performance of properties owned, which can change over time. The joint venture will own a data center facility located in Ashburn, VA, consisting of approximately 132,000 square feet, which is fully leased to a social media company and a financial services company with an average remaining lease term of 8 years. However, a material limitation associated with FFO and MFFO is that they are not indicative of our cash available to fund distributions since other uses of cash, such as capital expenditures at our properties and principal payments of debt, are not deducted when calculating FFO and MFFO. Invest Like a Pro with Unique Data & Simplifed Tools, Make informed decisions based on Top Analysts' activity, Get actionable alerts from top Wall Street Analysts, Find out before anyone else which stock is going to shoot up, Get powerful stock screeners & detailed portfolio analysis. This external link contact@marketbeat.com In evaluating the performance of our portfolio over time, management employs business models and analyses that differentiate the costs to acquire investments from the investments' revenues and expenses. Current performance may be higher or lower than the performance shown. Sign up today for your free Reader Account! Information regarding GCEARs directors and executive officers is available in its Annual Report on Form 10-K filed with the SEC on March 9, 2018 and its proxy statement filed with the SEC by GCEAR on April 4, 2017 in connection with its 2017 annual meeting of stockholders, and information regarding GCEAR IIs directors and executive officers is available in its Annual Report on Form 10-K filed with the SEC on March 9, 2018 and its proxy statement filed with the SEC by GCEAR II on April 5, 2017 in connection with its 2017 annual meeting of stockholders. By investment grade we mean that we intend to invest in properties leased to blue chip tenants and/ or companies with investment grade credit ratings. Thor Industries Hammered Its Numbers. Touch device users, explore by touch or with swipe gestures. By accepting, you are consenting to our use of this technology and the capture of this data. The company can be reached via phone at 1.310.469.6100. Cathie Wood Is Buying These Stocks, Should You? Type a symbol or company name. About Griffin Capital Essential Asset REIT II, Inc. Griffin Capital Essential Asset REIT II, Inc. is a publicly registered, non-traded REIT focused on acquiring a portfolio consisting primarily of single tenant business essential properties throughout the United States, diversified by corporate credit, physical geography, product type, and lease duration. This means that every time you visit this website you will need to enable or disable cookies again. Click to see Griffin Capital Essential Asset REIT II Inc Dividend Data, Dates and more financial information, or here to see GRTAA Projected 10 Year Dividend Yield. Funds from operations, or FFO, as defined by the National Association of Real Estate Investment Trusts (NAREIT), was approximately $49.1 million and $(6.3) million for the years ended December 31, 2014 and 2013, respectively. Please log in to your account or sign up in order to add this asset to your watchlist. Alternatively, we believe that the periodic amount paid by the tenant in subsequent periods to satisfy the termination fee obligation should be included in MFFO. As a term of obtaining this debt, we will pay financing costs to the respective lender. Griffin Capital Essential Asset REIT II, Inc. Class E Shares' stock was trading at $7.43 at the beginning of the year. The table shows Griffin Capital Essential Asset REITs dividend history, including amount per share, payout frequency, declaration, record, and payment dates. 2 Total capitalization includes the outstanding debt balance, plus total equity raised in our public offering and operating partnership units issued. Griffin Capital Company uses cookies and processes data like IP-addresses or browser information to help us compile aggregate data about site traffic and site interaction so that we can offer better user experiences. By accepting, you are consenting to our use of this technology and the capture of this data. ", About Griffin Capital Essential Asset REIT and Griffin Capital Corporation. Get short term trading ideas from the MarketBeat Idea Engine. 1520 E. Grand Avenue More specifically, MFFO isolates the financial results of the REIT's operations. 1-202-739-9401 (fax). You are leaving the Griffin Capital Company, LLC ("Griffin Capital") webpage. The use of MFFO as a measure of long-term operating performance on value is also limited if we do not continue to operate under our current business plan as noted above. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. constitute an endorsement by Griffin Capital of the information presented on the site. 2023 Griffin Capital Company, LLC. United States Canada UK Hong Kong Japan Australia New Zealand. April 29, 2014. 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