Latest news with #AxosBank
Axios
28-07-2025
- Business
- Axios
Construction set to begin on Raleigh's next tallest residential tower
Construction is set to begin soon on what will be Raleigh's largest residential tower — a development that will add to the city's changing downtown skyline. Why it matters: When completed, the Highline Glenwood tower will be 37 stories tall on the site of the historic Pine State Creamery building — edging The Eastern apartment tower in North Hills by one floor. The Highline's construction is also a sign that developers and lenders are still confident that downtown Raleigh's blistering growth will continue into the end of the decade. Driving the news: The building's developer, Turnbridge Equities, said it will begin work on the $200 million project next month after finalizing financing for the project from Axos Bank and the managed accounts of Manulife Investment. Zoom in: The building, expected to be finished in 2028, will have more than 300 apartments, a sky lounge, retail space on the first floor and a range of amenities, from a pool and padel court to a golf simulator room and sauna. The project will also preserve the historic Creamery building, which is set to be the future home of BuildOps 290-person office, according to Turnbridge. Between the lines: Turnbridge, which also owns the Mutual Tower in Durham, is betting that Raleigh will enter the latter part of this decade still hungry for new apartments. The area, especially downtown, has seen a record number of apartments built in the past few years. But plans for future construction have already begun to slow, with interest rates remaining high and newly opened buildings competing for tenants. Turnbridge said in a statement that Raleigh's apartment construction pipeline has already declined by 70% since 2022. It believes it will continue to decline, despite the city's population growth continuing. What they're saying: "Highline Glenwood will deliver into an ideal environment amid very limited new supply and continued population growth," Jason Davis, managing director of Turnbridge, said in the statement. In 2028, this tower "represents one of Raleigh's first projects in the next cycle of development, and by launching before the broader recovery, we have been able to lock in attractive construction costs that will be hard to replicate when activity picks back up," Davis added. What's next: Turnbridge has room on the site for more construction, but what that will be remains unclear.
Yahoo
28-07-2025
- Business
- Yahoo
Turnbridge Equities to Break Ground on $200 Million Highline Glenwood, Raleigh, N.C.'s Premier Luxury Residential Tower
Will Be Raleigh's Tallest, Most Amenitized Residential Tower, With Condo-Quality Finishes RALEIGH, N.C., July 28, 2025--(BUSINESS WIRE)--Turnbridge Equities has commenced site demolition and will soon break ground on Highline Glenwood, a 37-story, 306-unit luxury residential tower in Downtown Raleigh, North Carolina. In connection with the start of construction, Turnbridge has closed on approximately $147 million of construction financing provided by Axos Bank and managed accounts of the Manulife Investment Management Real Estate Credit Strategies Team ("Manulife"). Turnbridge is providing the equity for the project. When completed, Highline Glenwood will be Raleigh's tallest and most amenitized residential tower. Its 306 units will include: 1) Studio apartments up through three-bedroom penthouses with condo-quality finishes 2) Balconies and sweeping, 360-degree views of Downtown Raleigh and beyond 3) A 37th floor indoor/outdoor sky lounge, and a 13,000 square foot outdoor amenity terrace on the 9th floor that will include a pool, padel court, lawn, grills, fire pits, and lounge areas 4) Additional resident amenities also include a demonstration kitchen, coworking suite with conference and videoconference rooms, a Trackman golf simulator, a fitness center designed in consultation with Anatomy Fitness, and a wellness suite with cold plunge, sauna, and Hyperice recovery technology 5) Approximately 7,500 square feet of retail space on the ground floor, in addition to approximately 50,000 square feet of commercial space in the historic Creamery building, which will be preserved "As we have done across Turnbridge's platform, we believe very strongly in building the best, most differentiated product in the market, which will appeal to today's renters and stand the test of time," says Turnbridge Managing Director, Jason Davis. "Highline Glenwood will provide a true Trophy-quality project for Raleigh's fast-growing population." Raleigh, like many Sunbelt markets, has seen record levels of residential construction over the past several years, with approximately 4,350 new units in Downtown Raleigh over the past three years. Against the surge in new supply, the market has boasted the top absorption rate nationally over the past year, according to CoStar, illustrating the strong demand for new apartments, and the market's stabilized occupancy rate has remained consistent, at approximately 94%. Challenging capital markets and rising costs have slowed construction dramatically, resulting in a 70% drop in Raleigh's multifamily pipeline since year-end 2022, and by year-end 2025, the supply pipeline will have decreased by an additional 50%. When Highline Glenwood opens in 2028, fewer than 900 total units will have been delivered in Downtown Raleigh over the prior two years, creating a supply-constrained market given Raleigh's continued population growth. "Highline Glenwood will deliver into an ideal environment amid very limited new supply and continued population growth," notes Davis, "Highline Glenwood represents one of Raleigh's first projects in the next cycle of development, and by launching before the broader recovery, we have been able to lock in attractive construction costs that will be hard to replicate when activity picks back up." Highline Glenwood is located along Glenwood Avenue, in the Glenwood South submarket of Downtown Raleigh. Glenwood South is Raleigh's most active lifestyle submarket, featuring more than 50 unique retailers, 56 bars and entertainment venues, 46 restaurants, and five hotels. Additionally, Smoky Hollow Park, a 14-acre green space is being developed by the City of Raleigh, providing residents with new recreation amenities, in addition to the city's leading food and beverage offerings. Since 2013, Raleigh has ranked #2 nationally in population growth, behind only Austin, Texas, and the Raleigh-metro area continues to add approximately 60 new residents per day. Home to three major research universities (Duke University, University of North Carolina, and North Carolina State University), Raleigh and the Research Triangle boast one of the most educated and well compensated workforces in the country, with median household income approaching $100,000. The region is a hub for business and innovation and is consistently named one of the top places to live nationally by leading publications, while the State of North Carolina recently reclaimed the #1 place on CNBC's ranking of the Top State for Business. "The Raleigh market has been a core focus of ours for many years, because of its incredible demographics and population and job growth," remarks Mr. Davis. "However, what became clear to us is that Raleigh lacked premier quality residential offerings found in comparable markets where Turnbridge is also active. With about half of new residents moving from high-cost markets such as New York and Washington, DC, we believe there is pent up demand for downtown apartment projects of similar quality to what you would find in those markets." Highline Glenwood represents the first phase of the redevelopment of the historic Pine State Creamery (the "Creamery"). Turnbridge purchased the Creamery in March 2020. It subsequently rezoned the property from seven to 40 stories, obtained Raleigh Historic Development Commission approvals, and secured all necessary entitlements and permits to commence construction. Turnbridge will preserve the historic Creamery building, which was recently selected by tech "unicorn," BuildOps, for its 300-person Raleigh hub office, and will retain a second development site that can accommodate an additional 300 residential units or 300,000 square feet of commercial space. Sitework is underway, with project delivery expected in mid-2028. Barnhill Contracting Company will serve as the general contractor for the project, which was designed by JDavis, as architect of record; Morris Adjmi Architects, as design architect; Clearscapes, as consulting architect, Michael Hsu Office of Architecture, as interior designer; McAdams, as civil engineer and landscape architect; DeSimone Consulting Engineering, as structural engineer; and Crenshaw Consulting Engineers, as mechanical engineer. Greystar provided pre-development consulting on residential operations, CBRE is leasing the retail components of the Creamery, and JLL is leasing the office components of the Creamery. Images of the project may be found here: About Turnbridge Equities: Founded in 2015 by Andrew Joblon, Turnbridge Equities is a vertically integrated SEC-registered real estate investment and development firm with a demonstrated track record of success across a wide range of asset classes and markets. Since inception, Turnbridge has invested or managed over $4.1 billion of capital across two managed funds and multiple co-investment vehicles. The firm pursues uniquely diversified investment strategies and a highly selective market entry process that creates long-term value for investors, occupants, and end users. Turnbridge is headquartered in New York City with additional offices in Washington D.C., Los Angeles, Austin, and Miami. To learn more, please visit Disclaimer: This does not constitute an offer to sell or a solicitation of an offer to purchase any interests in any Turnbridge projects. View source version on Contacts Jason DavisManaging Directorjd@
Yahoo
08-07-2025
- Business
- Yahoo
This Underrated Bank Stock Is Quietly Soaring
Axos Financial (AX) is approaching its 52-week highs and has strong technical momentum. Shares are up 48% over the past year. AX has a Trend Seeker 'Buy' signal and an 88% overall 'Buy' rating via Barchart. Analysts project earnings and revenue growth, and Axos has solid fundamentals. Valued at $4.7 billion, Axos Financial (AX) is the holding company for Axos Bank, which provides financing for single and multifamily residential properties, small and medium businesses in target sectors, and selected specialty finance receivables. Axos Bank provides consumer and business banking products. I found today's Chart of the Day by using Barchart's powerful screening functions. I sorted for stocks with the highest technical buy signals, superior current momentum in both strength and direction, and a Trend Seeker 'buy' signal. I then used Barchart's Flipcharts feature to review the charts for consistent price appreciation. AX checks those boxes. Since the Trend Seeker signaled a buy on May 2, the stock has gained 23.2%. This Analyst Just Raised His Broadcom Stock Price Target by 70%. Should You Buy AVGO Now? Why Alibaba Stock Looks Like a Screaming Buy After Falling 27% From Its 2025 Highs 2 ETFs Offering Juicy Dividend Yields of 20% or Higher Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! AX Price vs. Daily Moving Averages: Editor's Note: The technical indicators below are updated live during the session every 20 minutes and can therefore change each day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the website when you read this report. These technical indicators form the Barchart Opinion on a particular stock. Axos shares hit a new year-to-date high on July 7, touching $84.65 in intraday trading. However, shares remain just off their 52-week high of $88.46 set in November 2024. Axos has an 88% technical 'Buy' signal. The stock recently traded at $83.20, above its 50-day moving average of $71.68. AX has a Weighted Alpha of +38.85. The stock has gained 48.3% over the past year. AX has its Trend Seeker 'Buy' signal intact. Axos is trading above its 20, 50 and 100-day moving averages. The stock has made 11 new highs and gained 17.3% in the last month. Relative Strength Index is at 76.46%. The technical support level is $82.09. $4.7 billion market cap. Trailing price-earnings ratio of 11.3x. Revenue is projected to grow 5.55% this year and 4.52% next year. Earnings are estimated to increase 9.64% this year and increase 3.14% next year. I don't buy stocks because everyone else is buying, but I do realize that if major firms and investors are dumping a stock, it's hard to make money swimming against the tide. It looks like Wall Street analysts have very mixed feelings and some major advisory sites think the stock may be priced too high for further price appreciation. The Wall Street analysts tracked by Barchart issued three 'Strong Buy,' two 'Moderate Buy,' and one 'Hold' opinion on the stock. Value Line gives the stock its above-average rating. CFRA's MarketScope rates the stock a 'Hold.' MorningStar thinks the stock is 10% overvalued. 14,460 investors monitor the stock on Seeking Alpha, which rates the stock a 'Strong Buy.' Axos currently has momentum and is hitting new highs. I caution that AX is volatile and speculative — use strict risk management and stop-loss strategies. Today's Chart of the Day was written by Jim Van Meerten. Read previous editions of the daily newsletter here. Additional disclosure: The Barchart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance. On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Sign in to access your portfolio
Yahoo
01-07-2025
- Business
- Yahoo
Axos Financial, Inc. to Announce Fourth Quarter Fiscal 2025 Results on July 30, 2025
Company Provides Update on Expected Financial Impact of Certain Income Tax Items LAS VEGAS, July 01, 2025--(BUSINESS WIRE)--Axos Financial, Inc. (NYSE: AX) ("Axos" or the "Company"), holding company for Axos Bank, Axos Clearing LLC, and Axos Invest, Inc., announced today that it will host a conference call on Wednesday, July 30, 2025 at 5:00 PM ET (2:00 PM PT) to discuss financial results for the fourth quarter of fiscal year 2025 ended June 30, 2025. Executive management will discuss the Company's fourth quarter fiscal 2025 results on the call. The Company plans to distribute its earnings results on Wednesday, July 30, 2025 after 4:00 PM ET (1:00 PM PT). Interested parties may access the live conference call by visiting Axos Financial's website at and clicking on the webcast link or by dialing toll-free number 877-407-8293. For those interested parties who may be unavailable to listen to the live broadcast, a replay will be available until August 30, 2025 at Axos' website and telephonically by dialing toll-free number 877-660-6853, passcode 13754509. On June 30, 2025, the State of California adopted and signed into law its fiscal year 2026 budget, which, among other things, changed the way financial institutions' multi-state income is apportioned to the State of California. The change required the Company to remeasure its deferred tax assets and liabilities and resulted in a one-time non-cash impairment. This impairment, netted with other state settlements reached on outstanding tax matters during the quarter, totaled approximately $4 million which the Company expects to recognize in the fourth quarter of the fiscal year ended June 30, 2025. The Company estimates the effective tax rate for fiscal years ending June 30, 2026 and thereafter will be reduced by approximately 3% compared to the effective tax rate prior to the change in the State of California tax law. About Axos Financial, Inc. and Subsidiaries Axos Financial, Inc., with approximately $24.0 billion in consolidated assets as of March 31, 2025, is the holding company for Axos Bank, Axos Clearing LLC and Axos Invest, Inc. Axos Bank provides consumer and business banking products nationwide through its low-cost distribution channels and affinity partners. Axos Clearing LLC (including its business division Axos Advisor Services), with approximately $37.1 billion of assets under custody and/or administration as of March 31, 2025, and Axos Invest, Inc., provide comprehensive securities clearing services to introducing broker-dealers and registered investment advisor correspondents, and digital investment advisory services to retail investors, respectively. Axos Financial, Inc.'s common stock is listed on the NYSE under the symbol "AX" and is a component of the Russell 2000® Index, the S&P SmallCap 600® Index, the KBW Nasdaq Financial Technology Index, and the Travillian Tech-Forward Bank Index. For more information on Axos Financial, Inc., please visit Forward-Looking Safe Harbor Statement This report contains forward-looking statements that involve risks and uncertainties, including without limitation statements relating to Axos' financial prospects and other projections of its performance. These forward-looking statements are made on the basis of the views and assumptions of management regarding future events and performance as of the date of this report. Actual results and the timing of events could differ materially from those expressed or implied in such forward-looking statements as a result of risks and uncertainties, including without limitation Axos' ability to successfully integrate acquisitions and realize the anticipated benefits of the transactions, changes in the interest rate environment, monetary policy, inflation, tariffs, government regulation, general economic conditions, changes in the competitive marketplace, conditions in the real estate markets in which we operate, risks associated with credit quality, our ability to attract and retain deposits and access other sources of liquidity, and the outcome and effects of litigation and other factors beyond our control. These and other risks and uncertainties detailed in Axos' periodic reports filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended June 30, 2024, Form 10-Q for the quarter ended March 31, 2025 and its last earnings press release, could cause actual results to differ materially from those expressed or implied in any forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this report. Axos undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. All written and oral forward-looking statements made in connection with this report, which are attributable to us or persons acting on Axos' behalf are expressly qualified in their entirety by the foregoing information. View source version on Contacts Johnny Lai, CFASVP, Corporate Development & Investor RelationsAxos Financial, 1-858-649-2218Email: jlai@ 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
Business Wire
01-07-2025
- Business
- Business Wire
Axos Financial, Inc. to Announce Fourth Quarter Fiscal 2025 Results on July 30, 2025
LAS VEGAS--(BUSINESS WIRE)--Axos Financial, Inc. (NYSE: AX) ('Axos' or the "Company'), holding company for Axos Bank, Axos Clearing LLC, and Axos Invest, Inc., announced today that it will host a conference call on Wednesday, July 30, 2025 at 5:00 PM ET (2:00 PM PT) to discuss financial results for the fourth quarter of fiscal year 2025 ended June 30, 2025. Executive management will discuss the Company's fourth quarter fiscal 2025 results on the call. The Company plans to distribute its earnings results on Wednesday, July 30, 2025 after 4:00 PM ET (1:00 PM PT). Interested parties may access the live conference call by visiting Axos Financial's website at and clicking on the webcast link or by dialing toll-free number 877-407-8293. For those interested parties who may be unavailable to listen to the live broadcast, a replay will be available until August 30, 2025 at Axos' website and telephonically by dialing toll-free number 877-660-6853, passcode 13754509. On June 30, 2025, the State of California adopted and signed into law its fiscal year 2026 budget, which, among other things, changed the way financial institutions' multi-state income is apportioned to the State of California. The change required the Company to remeasure its deferred tax assets and liabilities and resulted in a one-time non-cash impairment. This impairment, netted with other state settlements reached on outstanding tax matters during the quarter, totaled approximately $4 million which the Company expects to recognize in the fourth quarter of the fiscal year ended June 30, 2025. The Company estimates the effective tax rate for fiscal years ending June 30, 2026 and thereafter will be reduced by approximately 3% compared to the effective tax rate prior to the change in the State of California tax law. About Axos Financial, Inc. and Subsidiaries Axos Financial, Inc., with approximately $24.0 billion in consolidated assets as of March 31, 2025, is the holding company for Axos Bank, Axos Clearing LLC and Axos Invest, Inc. Axos Bank provides consumer and business banking products nationwide through its low-cost distribution channels and affinity partners. Axos Clearing LLC (including its business division Axos Advisor Services), with approximately $37.1 billion of assets under custody and/or administration as of March 31, 2025, and Axos Invest, Inc., provide comprehensive securities clearing services to introducing broker-dealers and registered investment advisor correspondents, and digital investment advisory services to retail investors, respectively. Axos Financial, Inc.'s common stock is listed on the NYSE under the symbol 'AX' and is a component of the Russell 2000® Index, the S&P SmallCap 600® Index, the KBW Nasdaq Financial Technology Index, and the Travillian Tech-Forward Bank Index. For more information on Axos Financial, Inc., please visit Forward-Looking Safe Harbor Statement This report contains forward-looking statements that involve risks and uncertainties, including without limitation statements relating to Axos' financial prospects and other projections of its performance. These forward-looking statements are made on the basis of the views and assumptions of management regarding future events and performance as of the date of this report. Actual results and the timing of events could differ materially from those expressed or implied in such forward-looking statements as a result of risks and uncertainties, including without limitation Axos' ability to successfully integrate acquisitions and realize the anticipated benefits of the transactions, changes in the interest rate environment, monetary policy, inflation, tariffs, government regulation, general economic conditions, changes in the competitive marketplace, conditions in the real estate markets in which we operate, risks associated with credit quality, our ability to attract and retain deposits and access other sources of liquidity, and the outcome and effects of litigation and other factors beyond our control. These and other risks and uncertainties detailed in Axos' periodic reports filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended June 30, 2024, Form 10-Q for the quarter ended March 31, 2025 and its last earnings press release, could cause actual results to differ materially from those expressed or implied in any forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this report. Axos undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. All written and oral forward-looking statements made in connection with this report, which are attributable to us or persons acting on Axos' behalf are expressly qualified in their entirety by the foregoing information.
