Notable News Spotlight: Optibase Ltd (NASDAQ: OBAS)

Optibase Ltd (NASDAQ: OBAS) remained among the day losers and traded with change of -6.04% on volume of 270 shares in the last session as compared to average volume of 0.83K shares. During last trade its minimum price was $11.51 and it gained highest price of $11.51. OBAS has total market capitalization of $60.04M. Its closing value stands at $11.51.

Notable News Spotlight: Optibase Ltd (NASDAQ: OBAS)

Optibase Ltd. (OBAS) recently announces financial results for the second quarter ended June 30, 2020.

Revenues from fixed income real estate totaled $3.8M for the quarter ended June 30, 2020 contrast to revenues of $4M for the second quarter of 2019.

Net Income attributable to Optibase Ltd shareholders for the quarter ended June 30, 2020 was $1.8M or $0.34 per basic and diluted share contrast to loss of $188,000 or $0.04 per basic and diluted share for the second quarter of 2019.

For the six months ended June 30, 2020 revenues totaled $7.9M contrast to revenues of $8.1M for the six months ended June 30, 2019. Net income attributable to Optibase Ltd Shareholders for the period was $1.9M or $0.37 per basic and diluted share, contrast to a loss of $379,000M or $0.07 per basic and diluted share for the six months ended June 30, 2019.

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

As of June 30, 2020, we had cash and cash equivalents of $27.4M, and shareholders’ equity of $76.5M, contrast with $12.6M, and $71.8M, respectively, as of December 31, 2019.

On July 9,2020, we reported the successful closing of a transaction to sell the Company’s portfolio in Germany comprised of twenty-seven (27) separate commercial properties, located mostly in Bavaria, Germany, for a total consideration of EUR 35M (app. $38.9M). For the quarter ended June 30, 2020 the Company recorded a net gain of about $2.3M resulting from the closing of the first 6 properties and is predictable to record an additional net gain of about $5.5M in the third quarter of 2020 with the closing of the sale of the remaining 21 properties. For further details on the Transaction, see the Company’s report on Form 6-K as filed with the Securities and Exchange Commission on July 9, 2020.

The price moved ahead of -2.08% from the mean of 20 days, 1.40% from mean of 50 days SMA and performed 1.35% from mean of 200 days price. Company’s performance for the week was -4.08%, -9.73% for month and YTD performance remained -0.78%.

 

2021's Most Anticipated Growth & Wealth-Building Opportunity

Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together

Glenn Orth

Cryptocurreny News and Business Stories My Name is Glenn Orth and I am also the main source from the ‘Medianews.ca’ of all the exclusive and most delicate visualization of the activities in the business sector. My first step towards this journey was taken in the very early years of my life. I started with an independent financial consultant. However, I only had almost 5 years of skills and experience in this market. I have always been a free personality and like to fly one place to another, to explore more and more. Moreover, this passion and craze of traveling gave me a chance to report a section for best news associations. Last but not least, I am presently working full-time as an editor.

Leave a Reply

Your email address will not be published. Required fields are marked *

2021's Most Anticipated Growth & Wealth-Building Opportunity

Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together