- GAAP Income of $19 million, or $0.28 per basic share
- Core Earnings of $23 million, or $0.35 per basic share
- Adjusted Funds from Operations ("AFFO") of $28 million, or $0.42 per basic share
- Real Estate Debt Portfolio - In the quarter, the Company monetized $120 million of principal recovery, including $110 million in repayment of a resort-related loan and $10 million from the sale of NCT CDO V bonds.
- American Golf - As of September 30, 2016, the Company owned, leased and managed 84 golf properties across 13 states, of which more than 75% were located in the top 20 Metropolitan Statistical Areas.
- On a same store basis, excluding managed courses, the golf business ended the third quarter with 8,890 full golf private members, an increase of 99 members over the prior year, and approximately 42,000 Players Club members for public properties, an increase of approximately 23,000 members over the prior year. Private member dues generated an additional $1 million of revenue in the quarter over the prior year, and The Players Club program generated an additional $2 million of revenue in the quarter over the prior year.
- Drive Shack - The Company began developing an initial site in Orlando, Florida, which is expected to open in late 2017 or early 2018. The Company also continued to advance development of Drive Shack venues and is actively working through a pipeline of sites in markets across the U.S.
- Cash Dividends - In October 2016, Newcastle declared a third quarter common cash dividend of $0.12 per share, or $8 million.
|3Q 2016||3Q 2015||2Q 2016|
|GAAP Income (B)||$19 million||$6 million||$2 million|
|GAAP Income per WA Basic Share (B)||$0.28||$0.10||$0.02|
|Core Earnings (A)||$23 million||$10 million||$14 million|
|Core Earnings per WA Basic Share (A)||$0.35||$0.16||$0.21|
|AFFO (A)||$28 million||$16 million||$11 million|
|AFFO per WA Basic Share (A)||$0.42||$0.25||$0.16|