The last initial public offering to hit the market was back on June 27, when Noodles & Company (NDLS) pulled of its uber-successful offering. Of course, then we got the Fourth of July holiday, which seriously derailed the IPO market’s activity.
This week, though, public offerings will get back on track, with seven deals on the docket. Here’s a snapshot look at each:
Diamond Resorts is a time-share operator that has an ownership base of over 490,000 families and a network of 295 vacation destinations, including four cruise itineraries. Locales include places like Hawaii, Canada, Mexico and the Caribbean.
Last year, revenues jumped from $391 million to $523.7 million while net income climbed from $10.3 million to $13.6 million. To keep the growth going, the company plans to invest aggressively in Asia. Already the company has struck a joint venture with Dorsett Hospitality International, a major hotel developer and operator in China, Japan, Malaysia and Singapore.
Diamond Resorts intends to issue 15.5 million shares on the New York Stock Exchange under the ticker DRII at a range of $16 to $18. Lead underwriters include Credit Suisse (CS), BofA Merrill Lynch (BAC), JPMorgan (JPM) and Guggenheim Securities.
NRG Yield — a spinoff of power generator NRG Energy (NRG) — operates renewable and conventional generation and thermal infrastructure assets.
From 2010 to 2012, revenues climbed from $143 million to $175 million and adjusted EBITDA spiked from $40 million to $99 million.
The main goal of NRG Yield is to distribute a hefty dividend to its shareholders. And in light of its long-term contracts, it should produce consistent cash flows to achieve this mission.
OncoMed Pharmaceuticals is a clinical-stage biotech operator that develops antibody therapeutics targeting cancer stem cells — the subpopulation of cells in a tumor responsible for driving growth and metastasis.
As a testament to its potential, OMED has struck two major collaboration agreements. One is with GlaxoSmithKline (GSK), which has milestones up to $350 million, and the other is with Bayer (BAYRY), which could result in up to $388 million.
OncoMed plans to issue 4 million shares on the Nasdaq under the ticker “OMED” at a range of $14 to $16. The underwriters include Jefferies (JEF) and Leerink Swann.
Physicians Realty Trust
Physicians Realty Trust is a real estate investment trust that is focused on properties leased to physicians and hospitals. So far, the portfolio consists of 19 medical office buildings located in 10 states, accounting for 528,048 net leasable square feet. Physicians Realty boasts 83.1% occupancy and an average lease term of seven years.
The company still is fairly small, with 2012 revenues only amounting to $12.9 million, about 6% less than in 2011. Operating cash flows also fell during this time, from $3.3 million to $3 million.
Physicians Realty Trust plans to issue 8 million shares on the NYSE under the ticker “DOC” at a range of $11.50 to $13.50. Lead underwriters include Wunderlich Securities, Oppenheimer, Janney Montgomery Scott, JMP Securities and BB&T Capital Markets (BBT).
RetailMeNot operates a marketplace for coupons, and while that might seem scary considering the disastrous results Groupon (GRPN) has seen, RetailMeNot should get traction with investors.
The company has a proven business model that boasts 60,000 retailers and brands. More importantly, growth has been substantial — revenues zoomed from $16.9 million in 2010 to $144.7 million in 2012, and the company now generates net income, which amounted to $26 million last year.
A key driver has been mobile, an ideal platform for online coupons. According to a report from IDC, the global mobile commerce market hit $63.4 billion last year and is forecast to grow at 36% per year until 2017.
RetailMeNot plans to issue 9.1 million shares on the Nasdaq under the ticker “SALE” at a range of $20 to $22. Lead underwriters include Morgan Stanley (MS), Goldman Sachs, Credit Suisse and Jefferies.
Rexford Industrial Realty
Rexford Industrial Realty is a recently formed REIT focused on the ownership of properties in Southern California’s infill markets. The principals of the business — Richard Ziman, Howard Schwimmer and Michael Frankel — have decades of experience in this market. And, by pulling off the IPO, they will consolidate a portfolio of 61 properties that consist of 6.7 million rentable square feet, and represent a mix of multi-tenant and single-tenant properties.
From 2011 to 2012, revenues soared from $28.2 million to $41.2 million, while EBITDA slipped from $21.5 million to $20.4 million.
Rexford plans to issue 16 million shares on the NYSE under the ticker “REXR” at $13 to $15. Lead underwriters include BofA Merrill Lynch, Wells Fargo Securities (WFC), FBR Capital Markets and JPMorgan.
This California-based homebuilder is a spinoff of holding company PICO (PICO). During the real estate depression, UCP was aggressive in snapping up cheap properties. As of now, the portfolio consists of over 6,000 single-family residential lots.
Last year, revenues came to $58.1 million, more than double its 2011 figure, and the company went from a net loss of $6.6 million to a $3 million profit in this time.
UCP plans to issue 7.8 million shares on the NYSE under the ticker “UCP’ at a range of $15 to $17. Lead underwriters include Citi, Deutsche Bank (DB) and Zelman Partners.
Tom Taulli runs the InvestorPlace blog IPO Playbook. He is also the author of High-Profit IPO Strategies, All About Commodities and All About Short Selling. Follow him on Twitter at @ttaulli. As of this writing, he did not hold a position in any of the aforementioned securities.