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Starwood Property to buy Fundamental Income Properties for about $2.2 billion
(Reuters) -Starwood Property Trust said on Wednesday it would acquire real estate operating platform Fundamental Income Properties for about $2.2 billion. The deal — which consists of 467 properties across 44 states — will be funded with cash on hand, alongside debt and equity capital, with Starwood assuming Fundamental's existing financing facilities totaling $1.3 billion. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Triumph Financial's (NASDAQ:TFIN) Q2: Beats On Revenue
Financial services company Triumph Financial (NASDAQ:TFIN) announced better-than-expected revenue in Q2 CY2025, with sales up 2.8% year on year to $108.1 million. Its GAAP profit of $0.15 per share was significantly above analysts' consensus estimates. Is now the time to buy Triumph Financial? Find out in our full research report. Triumph Financial (TFIN) Q2 CY2025 Highlights: Net Interest Income: $88.68 million vs analyst estimates of $87.87 million (flat year on year, 0.9% beat) Net Interest Margin: 6.4% vs analyst estimates of 6.5% (64 basis point year-on-year decrease, 7.5 bps miss) Revenue: $108.1 million vs analyst estimates of $106.3 million (2.8% year-on-year growth, 1.7% beat) EPS (GAAP): $0.15 vs analyst estimates of $0.05 ($0.10 beat) Market Capitalization: $1.47 billion Company Overview Originally focused on traditional banking before pivoting to serve the transportation sector, Triumph Financial (NASDAQ:TFIN) provides specialized financial services to the trucking industry, including payments processing, factoring, banking, and data intelligence solutions. Sales Growth Net interest income and and fee-based revenue are the two pillars supporting bank earnings. The former captures profit from the gap between lending rates and deposit costs, while the latter encompasses charges for banking services, credit products, wealth management, and trading activities. Thankfully, Triumph Financial's 6.8% annualized revenue growth over the last five years was decent. Its growth was slightly above the average bank company and shows its offerings resonate with customers. We at StockStory place the most emphasis on long-term growth, but within financials, a half-decade historical view may miss recent interest rate changes, market returns, and industry trends. Triumph Financial's recent performance marks a sharp pivot from its five-year trend as its revenue has shown annualized declines of 1.5% over the last two years. Note: Quarters not shown were determined to be outliers, impacted by outsized investment gains/losses that are not indicative of the recurring fundamentals of the business. This quarter, Triumph Financial reported modest year-on-year revenue growth of 2.8% but beat Wall Street's estimates by 1.7%. Net interest income made up 85.3% of the company's total revenue during the last five years, meaning Triumph Financial barely relies on non-interest income to drive its overall growth. Markets consistently prioritize net interest income growth over fee-based revenue, recognizing its superior quality and recurring nature compared to the more unpredictable non-interest income streams. Today's young investors likely haven't read the timeless lessons in Gorilla Game: Picking Winners In High Technology because it was written more than 20 years ago when Microsoft and Apple were first establishing their supremacy. But if we apply the same principles, then enterprise software stocks leveraging their own generative AI capabilities may well be the Gorillas of the future. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next. Tangible Book Value Per Share (TBVPS) Banks are balance sheet-driven businesses because they generate earnings primarily through borrowing and lending. They're also valued based on their balance sheet strength and ability to compound book value (another name for shareholders' equity) over time. This is why we consider tangible book value per share (TBVPS) the most important metric to track for banks. TBVPS represents the real, liquid net worth per share of a bank, excluding intangible assets that have debatable value upon liquidation. On the other hand, EPS is often distorted by mergers and flexible loan loss accounting. TBVPS provides clearer performance insights. Triumph Financial's TBVPS grew at a sluggish 1.8% annual clip over the last five years. On a two-year basis, however, dynamics have changed as TBVPS dropped by 7.8% annually ($22.70 to $19.31 per share). Over the next 12 months, Consensus estimates call for Triumph Financial's TBVPS to grow by 38.7% to $26.79, elite growth rate. Key Takeaways from Triumph Financial's Q2 Results We liked how revenue and EPS beat analysts' EPS expectations this quarter. On the other hand, its net interest margin missed and its tangible book value per share missed as well. Overall, we think this was a mixed quarter. The market seemed to be hoping for more, and the stock traded down 2% to $62.11 immediately after reporting. Is Triumph Financial an attractive investment opportunity at the current price? What happened in the latest quarter matters, but not as much as longer-term business quality and valuation, when deciding whether to invest in this stock. We cover that in our actionable full research report which you can read here, it's free. 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Survey suggests some Manitobans support higher hydro rates and appliance use at night
WINNIPEG — Some Manitobans appear willing to pay higher electricity rates and shift their energy use to nighttime, an opinion poll commissioned by Crown-owned Manitoba Hydro suggests. The findings come as the utility is asking the provincial regulator to approve rate increases in each of three next three years in order to replace aging infrastructure, avoid an increase in power outages and bring new generating power online. "The study found that overall, a majority ... say Manitoba Hydro should make the necessary investments to maintain reliability even if it would increase the average monthly bill," a document filed this month with the Public Utilities Board reads. The survey, conducted by Innovative Research Group in February and filed with the board last week, asked respondents whether they would be willing to pay a certain amount more on their monthly bill to avoid more or longer power outages. Respondents were presented with one of three monthly amounts — $6, $9 and $12. Almost two-thirds of those given the $6 option agreed with the idea of Manitoba Hydro spending more to maintain reliability even if it meant a higher monthly bill. That support dropped to 49 per cent for those presented the $12 a month scenario. Respondents were also polled on the possibility of paying different rates at different times of the day in order to persuade people to avoid using power at times of peak demand. Some energy utilities in Ontario already have such a system. More than half of respondents said they would either definitely or probably consider switching to nighttime use if it meant a lower rate for a number of items — running a dishwasher, charging an electric vehicle, using a washer and dryer, or taking a bath or shower. Fewer than half said they would run heating or air conditioning or cook meals more often at night to take advantage of lower rates. The online survey of 1,260 Manitobans was conducted between Feb. 4 and 17. Because the online survey was not a random probability-based sampling, it cannot be assigned a margin of error. Manitoba Hydro has long said it needs more money to prepare for the future and is asking the regulator to approve three annual rate hikes of 3.5 per cent starting next year. In its initial application package in March, the utility said it must spend $31 billion over two decades to maintain and improve existing infrastructure and expand generating capacity. Much of the infrastructure along the Bipole I and Bipole II transmission lines, which carry the bulk of the province's electricity from northern generating stations, is more than 50 years old and past the expected service life, the utility said. The utility has been laying the groundwork to modernize the lines since at least 2022. Manitoba Hydro is also planning to partner with Indigenous-led groups for 600 megawatts of new wind energy. The utility has said it could need new generating power as early as 2029 to meet growing demand. The Manitoba Eco-Network, a non-profit environmental group, said efforts to conserve energy could be more effective than building more power generation in keeping rates down. The group said it plans to question at hearings in the coming months why Manitoba Hydro recently signed export agreements with Saskatchewan and Minnesota utilities at a time when new generating power will soon be needed. "It seems strange to me that they were entering into these export arrangements when we're also saying that we need that power," executive director James Beddome said. The Consumers Coalition, which represents four non-profit groups including the Manitoba branch of the Consumers' Association of Canada, plans to press Manitoba Hydro on efforts to control costs in order to keep rates affordable. "They'll ... be looking for Manitoba Hydro to be keeping things under control inside its own house," Chris Klassen, a lawyer with the Public Interest Law Centre who represents the coalition, said. This report by The Canadian Press was first published July 16, 2025 Steve Lambert, The Canadian Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
