According to Campbell & CO Investment Adviser LLC’s most recent Form 13F filing with the Securities and Exchange Commission (SEC), the company has raised its holdings in Exantas Capital Corp (NYSE:XAN) by 35.3%. The institutional investor owned 56,788 shares of the company’s stock after buying an additional 14,821 shares during the fourth quarter. Campbell & CO Investment Adviser LLC owned about 0.18% of Exantas Capital worth $671,000 as of its most recent SEC filing.
Other hedge funds and institutional investors have made changes to their positions in the company as well. Bank of Montreal Can raised its holdings in Exantas Capital by 150.6% during the second quarter and now owns 4,321 shares of the company’s stock worth $49,000 after purchasing an additional 2,597 shares in the last quarter. Tower Research Capital LLC TRC acquired a new stake in Exantas Capital worth $95,000 while Metropolitan Life Insurance Co NY grew its holdings in Exantas Capital by 25.5% in the third quarter. Metropolitan Life Insurance Co NY now owns 8,841 shares of the company’s stock valued at $101,000 after purchasing an additional 1,797 shares during the last quarter. Other companies such as A.R.T. Advisors LLC and Nisa Investment Advisors LLC have increased their stake in shares of Exantas Capital as well.
The real-estate investment trust, Exantas Capital Corp., is turning the heads of investors and hedge funds alike going into the second quarter of 2019.
With the increase of industry-wide interest in Exantas Capital Corp., dominant hedge fund managers are investing in Exantas, and current stakeholders are upping their holdings. Notable Hedge Fund managers investing include Marshall Wace LLP and Caxton Associates LP. Current stakeholders that are raising their stake in Exantas Capital Corp. by a substantial amount include HBK investments, which held a stake worth $16.3 million at the end of the first quarter.
Exantas Capital Corp. is externally managed by Exantas Capital Manager Inc., which is a subsidiary of C-III Partners LLC. C-III is an investment management and commercial real estate services company of which Andrew Farkas is the CEO and Chairman. Exantas Capital Corp. leverages C-III by providing transitional commercial real estate loans and mortgage-backed securities.
Exantas Capital Corp., formerly known as Resource Capital Corporation, recently announced the issuance of $404.9 million of non-recourse, floating rate notes. The issuance consists of notes of multiple classes rated by Moody’s Investors Service, Fitch Ratings and Kroll Bond Rating Agency (KBRA). Exantas is a real estate investment trust that is a subsidiary of C-III Capital Partners LLC. Mr. Andrew L. Farkas serves as Chairman of Exantas, and Chairman and CEO of C-III as a whole.
Exantas issued several classes of highly rated notes, including $290.5 million of Class A Notes, rated Aaa by Moody’s and AAA by Fitch Ratings and KBRA. The company also issued $39.2 million of Class B Notes, which KBRA rated AA-, and $30.2 million of class C Notes, which were rated A- by KBRA. Finally, they issued $45.0 million of Class D Notes, with a rating of BBB- from KBRA. Class E and F notes will not be offered at this time.
CEO Robert C. Lieber was happy with the CLO issuance, saying: “This transaction is more than 35% larger than its CLO issuance completed last June, which was the company’s largest post-crisis issuance at the time.” The transaction is expected to close on June 26th, 2018, but already has been received favorably and has significant demand.
Exantas Capital Corporation utilizes C-III’s expertise and resources to specifically invest in CRE credit investments. Mr. Farkas has successfully grown C-III from its founding in 2010 to a fully diversified asset management company with several subsidiaries. It manages a total of $8 billion in assets, and has resolved over $50 billion of real estate loans.