May 29, 2020

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Investors Update: Optibase Ltd. (NASDAQ:OBAS)

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Optibase Ltd. (NASDAQ:OBAS) stock identified change of 29.80% away from 52-week low price and recently located move of -4.39% off 52-week high price. It has market worth of $50.94M. OBAS stock has been recorded 2.70% away from 50 day moving average and 11.68% away from 200 day moving average. Moving closer, we can see that shares have been trading -1.10% off 20-day moving average.

Optibase Ltd. (NASDAQ:OBAS) reported financial results for the fourth quarter ended December 31, 2018.

Revenues from fixed income real estate totaled $4.1 million for the quarter ended December 31, 2018 compared to revenues of $4.2 million for the fourth quarter of 2017.

Net loss attributable to Optibase Ltd shareholders for the quarter ended December 31, 2018 was $804,000 or $0.16 per basic and diluted share compared to net loss of $518,000 or $0.10 per basic and diluted share for the fourth quarter of 2017.

For the year ended December 31, 2018 and December 31, 2017 revenues totaled $16.6 million. Net loss attributable to Optibase Ltd Shareholders for the year ended December 31, 2018 was $2.8 million or $0.54 per basic and diluted share, compared to a net loss of $1.1 million or $0.22 per basic and diluted share for the year ended December 31, 2017.

Weighted average shares outstanding used in the calculation for the periods were approximately 5.2 million basic and diluted shares for each period.

As of December 31, 2018, we had cash and cash equivalents of $13.8 million, and shareholders’ equity of $73.4 million, compared with $20.3 million, and $77.1 million, respectively, as of December 31, 2017.

Amir Philips, Chief Executive Officer of Optibase commented on the fourth quarter results: “This quarter our fixed income real estate rent were stable compared to the fourth quarter of 2017 while our net loss had increased significantly compared to the fourth quarter of 2017. The increase in our net loss is mostly attributed to an increase in our Equity share in losses of associates, net, related to our investment in 300 River Holdings, LLC as well as an increase in our general and administrative expenses. For the year ended December 31, 2018, we generated NOI of $13.6 million representing an increase compared to the year ended December 31, 2017. In addition, for the year ended December 31, 2018, our Recurring FFO decreased to $3 million compared to Recurring FFO of $4 million for the year ended December 31, 2017. The decrease in our Recurring FFO is due to an increase in our Equity share in losses of associates, net, related to our investment in 300 River Holdings, LLC.” Mr. Philips concluded: “We continue our work to maintain our basic parameters and to increase our financial stability as we progress through 2019.”

The Financial sector company, Optibase Ltd. noticed change of -2.49% to $9.8 along volume of 3600 shares in recent session compared to an average volume of 2.29K. The stock observed return of 0.62% in 5 days trading activity. The stock was at 1.03% over one month performance. OBAS’s shares are at 13.95% for the quarter and driving a 17.37% return over the course of the past year and is now at 12.99% since this point in 2018.

The average volatility for the week at 6.12% and for month was at 4.30%. There are 5.2M shares outstanding and 1.19M shares are floated in market.

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