AppFolio earnings decline again
AppFolio, a Goleta-based property management software developer, saw earnings per share drop sharply for the second consecutive quarter, in financial results for second quarter of 2021, released after the markets closed Aug. 9. Net income for AppFolio was at $2 million for the quarter ended June 30, down from $19.2 million in the same quarter Read More →
PennyMac misses earnings targets
Both segments of PennyMac’s business missed estimates when they announced their second quarter financial earning reports on Aug. 5. PennyMac Financial Services reported net income of $204.2 million, or $2.94 per share on a diluted basis, missing the 3.48 per share estimate predicted by Zacks Consensus Estimates. The Westlake Village-based financial services segment had earnings Read More →
Velocity shares rise after earnings beat
Velocity Financial saw its net income rise in its second quarter financial earnings, beating estimates. The Westlake Village-based mortgage firm had net income of $9.45 million, or 28 cents per share, well above analysts’ estimates of around 15 cents per share. Velocity Financial more than tripled its net income from the same time a year Read More →
Real Estate: Nordstrom building conversion could lead to glut of Santa Barbara office space
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Nordstrom building in downtown Santa Barbara nearing sale; buyer plans offices on upper floors
The Nordstrom building in downtown Santa Barbara is nearing a sale, and the new owner is looking to turn the upper floors into office space, according to a report released by Hayes Commercial Group on July 30. The building is at the northern end of Paseo Nuevo. Most of the outdoor mall is owned by Read More →
UCSB moves ahead with Munger Hall mega-dorm
UC Santa Barbara has released a notice of preparation for a new student housing development, Munger Hall, which was previously approved as part of the university’s Long Range Development Plan. Munger Hall, when built, would increase the university’s on-campus housing by 50%, with single-occupancy rooms, and will allow the university to eliminate triple housing in Read More →
LTC Properties earnings rebound from pandemic lows
LTC Properties saw its net income soar a year after the pandemic caused serious interruptions to the real estate investment trust’s business model. On July 29, the Westlake Village-based REIT reported its net income for the second quarter of 2021 at $18.1 million, or 46 cents per share — an increase of more than 900% Read More →
