What is Winthrop Realty Trust Probability of Financial Distress (%)?
Probability of Financial Distress (%) measures the probability that a company will go bankrupt in the upcoming year given its current financial position. A higher ratio indicates a larger probability of bankruptcy for the company, while a lower ratio indicates a healthier fundamental. As of today, Winthrop Realty Trust's Probability of Financial Distress (%) is 0.00%.
Like the Altman Z-Score, the PFD measures a company's bankruptcy risk. However, the main drawback of the Z-score is it does not apply to banks and insurance companies. According to Investopedia, the concept of "working capital" does not apply to banks and insurance companies, as financial institutions do not have typical current assets or current liabilities like inventories or accounts payable.
Competitive Comparison of Winthrop Realty Trust's Probability of Financial Distress (%)
For the REIT - Diversified subindustry, Winthrop Realty Trust's Probability of Financial Distress (%), along with its competitors' market caps and Probability of Financial Distress (%) data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Winthrop Realty Trust's Probability of Financial Distress (%) Distribution in the REITs Industry
For the REITs industry and Real Estate sector, Winthrop Realty Trust's Probability of Financial Distress (%) distribution charts can be found below:
* The bar in red indicates where Winthrop Realty Trust's Probability of Financial Distress (%) falls into.
Winthrop Realty Trust Probability of Financial Distress (%) Calculation
Probability of Financial Distress (%) (PFD) was developed by John Campbell, Jens Hilscher and Jan Szilagyi in their Search of Distress Risk. It measures the probability that a company will go bankrupt within the next 12 months given its current financial position.
The Probability of Financial Distress (%) was obtained by a logit probability model based on eight explanatory variables. The logit formula to compute the probability of financial distress (LPFD) is given below:
| LPFD | = | -20.12 * NIMTAAVG | + | 1.60 * TLMTA | - | 7.88 * EXRETAVG | + | 1.55 * SIGMA | - | 0.005 * RSIZE | - | 2.27 * CASHMTA | + | 0.070 * MB | - | 0.09 * PRICE | - | 8.87 |
| = | 0.00 |
The Probability of Financial Distress (%) (PFD) was then obtianed by:
| PFD | = | 1 | / | (1 + e^(-LPFD)) | * | 100% |
| = | 0.00% |
The eight explanatory variables are:
1. NIMTAAVG = Net Income to Market Total Assets
*Note that for companies reported quarterly, geometrically declining weighted quarterly Net Income data in latest four quarters are used.
2. TLMTA = Total liabilities to Market Total Assets
3. CASHMTA = Cash to Market Total Assets
For non-financial companies, CASHMTA is measured as:
4. EXRETAVG = Excess Return compared to the S&P 500
EXRETAVG is the weighted excess return compared to the S&P 500 in past 12 month. Geometrically declining weights are imposed on the monthly excess return to reflect lagged information. The weight is halved each quarter.
5. SIGMA = Standard Deviation of Daily Returns
For sigma, we use the annualized standard deviation of a company's returns over the past 92 days (or 63 trading days).
6. RSIZE = Relative Size
| RSIZE | = | log (Market Cap | / | Total Market Cap of S&P 500 companies) |
7. MB = Market to Adjusted Book Equity Ratio
8. PRICE
PRICE is measured as the log of the stock price, capped at log(15).
Winthrop Realty Trust (Winthrop Realty Trust) Business Description
Traded in Other Exchanges
N/A
Address
Winthrop Realty Trust Inc is a real estate investment trust (REIT), is an unincorporated association in the form of a business trust organized in Ohio under a Declaration of Trust dated August 1, 1961. The Company conducts its business through its wholly owned operating partnership, WRT Realty L.P., a Delaware limited partnership. The Company is engaged in the business of owning real property and real estate related assets which it categorize into three reportable segments: (i) the ownership of investment properties including wholly owned properties and investments in joint ventures which own investment properties, which it refer to as operating properties; (ii) the origination and acquisition of senior loans, mezzanine loans and debt securities collateralized directly or indirectly by commercial and multi-family real property, which it refer to as loan assets; and (iii) the ownership of equity and debt interests in other real estate investment trusts (REITs), which it refer to as REIT securities. Its primary sources of income are rental income and tenant recoveries from leases of its operating properties, interest income and discount accretion from its loan assets, and interest and dividend income and appreciation from its investments in REIT securities. The Company competes with many other companies, including other REITs, insurance companies, commercial banks, private investment funds, hedge funds, specialty finance companies and other investors. Its operations and properties are subject to various federal, state and local laws.
Executives
| Michael L Ashner |
director, officer: Chairman & CEO |
C/O WINTHROP FINANCIAL ASSOCIATES, TWO JERICHO PLAZA WING A, JERICHO NY 11753 |
| Carolyn Tiffany |
director, officer: President |
C/O WINTHROP FINANICAL ASSOCIATES, 7 BULFINCH PLACE, SUITE 500, BOSTON MA 02114 |
| Howard Goldberg |
director |
|
| King Street Capital Mgmt Llc |
10 percent owner |
299 PARK AVENUE, 40TH FLOOR, NEW YORK NY 10171 |
| Brian J Higgins |
10 percent owner |
65 EAST 55TH STREET, 30TH FLOOR, NEW YORK NY 10022 |
| Biondi O Francis Jr |
10 percent owner |
65 EAST 55TH STREET, 30TH FLOOR, NEW YORK NY 10022 |
| Talton R Embry |
director |
C/O MAGTEN ASSET MANAGEMENT CORP, 410 PARK AVENUE, NEW YORK NY 10022 |
| Bruce R Berkowitz |
director |
C/O FAIRHOLME CAPITAL MANAGEMENT, L.L.C., 4400 BISCAYNE BOULEVARD, 9TH FLOOR, MIAMI FL 33137 |
| William A Ackman |
other: Former 10% Owner |
787 - 11TH AVENUE, 9TH FLOOR, NEW YORK NY 10019 |
| Gotham Partners Lp /ny/ |
other: Former 10% owner |
888 SEVENTH AVENUE, 29TH FLOOR, NEW YORK NY 10019 |
| Section H Partners L P |
other: Fomer 10% Owner |
110 EAST 42ND STREET 18TH FL, NEW YORK NY 10017 |
| David P Berkowitz |
other: Former 10% Owner |
110 EAST 42ND STREET 18TH FL, NEW YORK NY 10017 |
| Gotham Parners Iii L P |
other: Former 10% Owner |
888 SEVENTH AVENUE, 29TH FLOOR, NEW YORK NY 10019 |
| Gotham International Advisors Llc |
other: Former 10% Owner |
888 SEVENTH AVENUE, 29TH FLOOR, NEW YORK NY 10019 |
| Karenina Corp |
other: Former 10% Owner |
110 EAST 42ND STREET 18TH FLOOR, NEW YORK NY 10017 |
Winthrop Realty Trust (Winthrop Realty Trust) Headlines
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
FUR has been successfully added to your