|Price Range 12mo avg:||$2M – $4.8M|
|$/sf 12mo avg:||$683|
|CAP Rate 12mo avg:||6.47%|
|Lease Terms:||18yrs NNN|
|Building Size avg:||4,750 SF|
|Lot Size avg:||1.30+/- acres|
The largest full-service dining company in the world.
In the past, the world knew us as IHOP®, an American icon to our guests and a franchising company that was focused on providing strategic leadership and vision for our franchisees and on enhancing value for our shareholders. With this dedicated focus, we cultivated a core expertise in brand revitalization and franchising know-how which became the basis for the winning formula that has defined the financial success of our business in recent years. With the addition of Applebee’s® to the IHOP family of restaurants in November 2007, we made a bold new commitment to our brand revitalization abilities and to the power of franchising. DineEquity promises to make our two businesses more powerful and more successful than either brand could have been apart. In October of 2012, DineEquity successfully completed the transition of Applebee’s to a 99% franchised restaurant system. Our goal remains to provide delicious, innovative dishes and exceptional guest experiences each and every time a guest walks through either brand’s doors. With more than 3,600 restaurants combined in 18 countries, more than 400 franchisees and approximately 200,000 team members (including franchisee- and company-operated restaurant employees), DineEquity is one of the largest full-service restaurant companies in the world.
With more than 2,000 restaurants in 49 states, 16 countries and two U.S. territories, Applebee’s is the world’s largest casual dining brand. Founded in 1980 in Atlanta, Georgia by Bill and T.J. Palmer, Applebee’s has always been dedicated to full service, consistently good food, reasonable prices and quality service in a neighborhood setting. Today, we are focused on building upon this heritage and maintaining Applebee’s brand position at the top of the casual dining industry by becoming more competitive and differentiated in the casual dining segment of the restaurant industry. We expect to generate sustainable same-restaurant sales momentum for the Applebee’s brand by significantly increasing the effectiveness of Applebee’s marketing efforts, making meaningful improvements to the operational performance of our restaurants, and continuously introducing fresh, innovative dishes for our guests to enjoy.
Applebee’s® competes in the grill & bar segment of the casual dining category of the restaurant industry. In October of 2012, Applebee’s completed the refranchising program initiated in 2008, successfully transitioning to a 99% franchised restaurant system. Applebee’s Neighborhood Grill & Bar restaurants are known for their fun and family-friendly neighborhood atmosphere and signature grill & bar menu items that guests can only get at Applebee’s.
|S&P Credit Rating:||N/A|
|Moody’s Credit Rating:||N/A|
|Annual Revenue 2014:||$655M|
|Annual Revenue 2013:||$640.5M|
|Revenue Growth:||↑ 2% from 2013|
|Units (Dec. 2014)||2,017|
|Average Units Volume:||$174.7K|
Net income was impacted by loss on extinguishment of debt related to the Company’s refinancing of its long-term debt.
2014 Refinancing of Long-term Debt
On September 30, 2014, the Company repaid the entire outstanding principal balance of $463.6 million of the Credit Facility; there were no premiums or penalties associated with the repayment. On October 30, 2014, after a required 30-day notice period, the Company repaid the entire outstanding $760.8 million principal balance of Senior Notes, along with a required make-whole premium for early repayment of $36.1 million. All of our obligations under the Credit Facility and the Senior Notes terminated upon the respective repayments thereof.
This transaction was accounted for as an extinguishment of debt under U.S. GAAP. We recognized a loss on debt extinguishment of $64.9 million for the year ended December 31, 2014, comprised of the $36.1 million make-whole premium on the Senior Notes and the write-off of the unamortized debt discount and the issuance costs associated with the extinguished debt of $16.9 million and $11.9 million, respectively.
Average Units Volume is calculated on a combined total of Applebee’s and IHOP units (3,667) and does not account for store sales as 99% of the units are franchised.
Yahoo! Finance: DIN News Latest Financial News for DIN
Wedbush: 5 Stocks On Our ‘Best Ideas List’
on June 13, 2019 at 9:39 am
If you are looking for fresh investing inspiration, look no further. Wedbush has just released the latest version of its Best Ideas List. The June report reveals the firm's top stock picks right now- and includes the removal of two Outperform-rated names (see below). But first, let's take a closer look now at why these five stocks make such compelling investing propositions right now... 1\. Microsoft (MSFT)Top-rated Wedbush analyst Daniel Ives has just reiterated his MSFT Buy rating with a $155 price target. From current levels that indicates 18% upside potential. “In our opinion Microsoft remains in an enviable position heading into the rest of 2019 and 2020 on the heels of its cloud success and is firing on all cylinders around its Office 365 and Azure strategic vision based on our recent checks” explains the analyst. The shift to cloud is a major secular trend that is significantly benefiting MSFT, says Ives. He believes Microsoft is perfectly positioned to get more complex workloads (e.g., AI, machine learning, etc.) as more enterprises take the leap to a hybrid cloud architecture over the coming years. “While AWS remains the leader in cloud, we believe MSFT is starting to clearly "close the gap" the analyst tells investors. Indeed, roughly 32% of workloads are in the cloud today, and this figure is poised to hit a whopping 55% by 2022. View MSFT Price Target & Analyst Ratings Detail 2\. Activision Blizzard (ATVI)Wedbush isn’t the only firm signaling their confidence in ATVI right now. One of the world’s biggest video game companies, ATVI also has the thumbs up from Goldman Sachs’ Mike Ng. The Goldman Sachs analyst upgraded Activision from Hold to Buy on May 28. And he also elevated ATVI to Goldman’s ‘Conviction Buy’ list of top stock ideas. According to Ng, the company "is on the cusp of an earnings inflection" as well as an engagement inflection. "Specifically, 'Overwatch' engagement is likely to improve following the introduction of Storm Rising (PvE), Workshop mode, and Havana," the analyst told investors. "'Hearthstone' likely will benefit from Rise of Shadows (expansion) and The Dalaran Heist (solo story mode), while 'World of Warcraft' should benefit from Classic and Rise of Azshara." These create the potential for earnings upside said the analyst.He has a $54 price target on the stock (20% upside potential). In comparison, Wedbush analyst Michael Pachter has a slightly more bullish $56 price target, for 24% upside potential. See what other Top Analysts are saying about ATVI. 3\. Fidelity National Info (FIS)Mergers are shaking up the payments processing industry, and one key stock to keep your eye on is Fidelity National. FIS provides international financial services technology and outsourcing services. Wedbush analyst Moshe Katri added FIS to the firm’s Best Ideas List back in late March 2019. Since that date shares are up 10%. Katri made the move after FIS agreed to buy Worldpay (WP) for $35 billion in cash and stock. "The combined company will be positioned to offer best-in-class enterprise banking, payments, capital markets, and global e-commerce capabilities empowering merchants worldwide," the analyst commented. In short we are looking at a tech and payments powerhouse, with significant synergy potential. Katri has a $140 price target on shares (16% upside potential) calling FIS ‘significantly undervalued’ compared to peers. A similarly upbeat perspective comes from Jefferies’ Michael Del Grosso. "The consolidated entity will have global scale in both merchant processing and issuer processing," Del Grosso said. "We believe the deal's rationale is predominantly driven by continuing to drive scale in the industry.”View FIS Price Target & Analyst Ratings Detail 4\. Tempur Sealy International (TPX)Tempur Sealy International describes itself as the world's largest bedding provider. The Kentucky-based company has enjoyed a terrific rally year-to-date, with prices up 65%. And according to Wedbush’s Seth Basham this is still a stock worth buying into. He has just reiterated his Outperform rating with a $74 price target.Memorial Day weekend bricks and mortar mattress sales checks with retailers and industry contacts were favorable, noted Basham. Encouragingly, retailers called out strength in Tempur-Sealy products, with special mention of the new high-end Tempur Breeze helping to boost average selling prices (ASPs). “The favorable sales trends came despite a modest pullback in promotions across the industry. We believe TPX sales and margin trends are on track for 2Q19, with more upside than downside risk” the analyst wrote. See what other Top Analysts are saying about TPX. 5\. Electronic Arts (EA)Another gaming stock also crops up on the Best Ideas List- Electronic Arts. On May 17, the firm’s Michael Pachter promoted EA to best idea status with a $122 price target (32% upside potential).“We expect EA to deliver material upside to its FY:20 guidance for net bookings and EPS, driven by Apex Legends and a game lineup this year that appears outstanding” explained Pachter. That includes the upcoming adventure game, Star Wars Jedi: Fallen Order. The analyst added: “We expect a string of near-term catalysts, including updates on Apex MAUs, game reveals at the E3 Expo in June, greater detail on the market expansion potential for services like Google Stadia, and continuing growth of EA’s sports business.” With the E3 Expo currently underway in LA, now is the time for these catalysts to begin materializing. See what other Top Analysts are saying about EA. And it’s goodbye to:Two stocks are slashed from the list. “We are removing DIN and OBSV from the Best Ideas List” writes the firm. Dine Brands Global (DIN) operates franchised and corporate owned full-service restaurants including Applebee's Neighborhood Grill & Bar and International House of Pancakes. “While we maintain our OUTPERFORM rating, we are removing DIN from the Wedbush Best Ideas List given the less attractive risk/reward profile at current levels” explains the firm. Indeed, year-to-date DIN is trading up 39%. That’s not to say there isn’t hope ahead. “We continue to view DIN’s primarily franchised model as underappreciated and believe the current discount to franchised peers… could narrow over the next 6 to 12 months.” As for Swiss biotech Obseva (OBSV), the firm simply writes “We are removing OBSV from the Best Ideas List due to our investment price discipline.” Shares have plunged 20% year-to-date for the company, which focuses on reproductive health and pregnancy. Discover stock ideas from the Street's best performing analysts her […]
Will IHOP's New Burger Promo Be as Successful as IHOb?
on June 12, 2019 at 11:00 pm
It will be difficult to beat, but the pancake house seems to be giving it a good effort. […]
See what the IHS Markit Score report has to say about Dine Brands Global Inc.
on June 11, 2019 at 12:07 pm
Dine Brands Global Inc NYSE:DINView full report here! Summary * ETFs holding this stock are seeing positive inflows * Bearish sentiment is high * Economic output in this company's sector is contracting Bearish sentimentShort interest | NegativeShort interest is high for DIN with between 15 and 20% of shares on loan. This means that investors who seek to profit from falling equity prices are currently targeting DIN. However, the last change in the short interest score occurred more than 1 month ago and implies that there has been little change in sentiment. Money flowETF/Index ownership | PositiveETF activity is positive. Over the last month, ETFs holding DIN are favorable, with net inflows of $1.70 billion. Additionally, the rate of inflows is increasing. Economic sentimentPMI by IHS Markit | NegativeAccording to the latest IHS Markit Purchasing Managersâ€™ Index (PMI) data, output in the Consumer Servicesis falling. The rate of decline is significant relative to the trend shown over the past year, and is accelerating. Credit worthinessCredit default swapCDS data is not available for this security.Please send all inquiries related to the report to firstname.lastname@example.org.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report. […]
Those Burgers and Tacos Are Actually Backing Bonds
on June 10, 2019 at 10:00 am
Chances are most Americans know at least some of these restaurant chains, if not all of them. Together, they and others like them back the overwhelming majority of esoteric asset-backed securities known as “whole business securitizations,” which have quietly become a large and growing part of the structured-finance market. Investors then buy pieces of the securitizations, which tend to have credit ratings five or six levels higher than the companies themselves, according to S&P Global Ratings. […]
Dine Brands Global, Inc. Completes Refinancing of its Existing Long-Term Debt Through a Securitization
on June 5, 2019 at 8:00 pm
Dine Brands Global, Inc. (DIN), the parent company of Applebee's Neighborhood Grill + Bar® and IHOP® restaurants, today announced that the Company’s indirect, two special purpose subsidiaries (the “Co-Issuers”) have completed the refinancing of their fixed rate senior secured notes and variable funding senior notes. The financing facility is comprised of Series 2019-1 Class A-2-I, Fixed Rate Senior Secured Notes, (“Class A-2-I Notes”) in an initial principal amount of $700 million and Series 2019-1 Class A-2-II, Fixed Rate Senior Secured Notes, (“Class A-2-II Notes”) in an initial principal amount of $600 million (the “Class A-2-I Notes”, together with the “Class A-2-II Notes”, the “Class A-2 Notes”). […]