Trinity Place Holdings Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Trinity Place Holdings Inc. filed its Q1 2024 10-Q, detailing financial positions and stock-related information.</b>

AI Summary

Trinity Place Holdings Inc. (TPHS) filed a Quarterly Report (10-Q) with the SEC on May 15, 2024. The filing is a 10-Q report for Trinity Place Holdings Inc. for the period ending March 31, 2024. The company's principal business is listed as Operators of Nonresidential Buildings. The filing includes detailed financial data for Retained Earnings, Additional Paid In Capital, and Accumulated Other Comprehensive Income as of March 31, 2024, and prior periods. Information on Common Stock and Treasury Stock is provided for various dates, including March 31, 2024. The report references stock incentive plans, including the Two Thousand Fifteen Stock Incentive Plan, and Restricted Stock Units (RSUs).

Why It Matters

For investors and stakeholders tracking Trinity Place Holdings Inc., this filing contains several important signals. This 10-Q filing provides a snapshot of Trinity Place Holdings Inc.'s financial health and equity structure as of the first quarter of 2024, crucial for investors assessing the company's stability and performance. The detailed breakdown of equity accounts and stock plans offers insights into how the company manages its capital and compensates its employees, which can impact future profitability and shareholder value.

Risk Assessment

Risk Level: low — Trinity Place Holdings Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) with no immediate red flags or significant negative disclosures, indicating a routine update on the company's financial status.

Analyst Insight

Review the detailed balance sheet and equity sections to understand the company's capital structure and any changes from previous periods.

Financial Highlights

total Assets

52856000

total Debt

37605000

Key Numbers

• 52856000 — Total Assets (As of 2024-03-31)
• 37605000 — Total Debt (As of 2024-03-31)

Key Players & Entities

• Trinity Place Holdings Inc. (company) — Filer name
• 2024-03-31 (date) — Conformed period of report
• 2024-05-15 (date) — Filed as of date
• 0001558370-24-008305 (filing_id) — Accession number
• SYMS CORP (company) — Former company name

FAQ

Industry Context

Trinity Place Holdings Inc. operates in the real estate sector, specifically as operators of nonresidential buildings.

Regulatory Implications

The filing is a standard 10-Q report under the Securities Exchange Act of 1934, requiring public companies to disclose financial and operational information quarterly.

What Investors Should Do

1. Analyze the balance sheet for changes in assets and liabilities compared to the previous quarter.
2. Examine the equity section for details on common stock, treasury stock, and paid-in capital.
3. Review disclosures related to stock incentive plans and restricted stock units.

Key Dates

• 2024-03-31: Quarterly Period End — Financial reporting period for the 10-Q
• 2024-05-15: Filing Date — Date the 10-Q was officially submitted to the SEC

Year-Over-Year Comparison

This 10-Q filing provides updated financial information for the quarter ending March 31, 2024, compared to previous filings.

Key Financial Figures

• $0.01 — hange on which registered Common Stock $0.01 Par Value Per Share TPHS NYSE Ameri

Filing Documents

• tphs-20240331x10q.htm (10-Q) — 1295KB
• tphs-20240331xex31d1.htm (EX-31.1) — 12KB
• tphs-20240331xex31d2.htm (EX-31.2) — 11KB
• tphs-20240331xex32d1.htm (EX-32.1) — 7KB
• tphs-20240331xex32d2.htm (EX-32.2) — 7KB
• 0001558370-24-008305.txt (&nbsp;) — 6359KB
• tphs-20240331.xsd (EX-101.SCH) — 55KB
• tphs-20240331_cal.xml (EX-101.CAL) — 54KB
• tphs-20240331_def.xml (EX-101.DEF) — 218KB
• tphs-20240331_lab.xml (EX-101.LAB) — 453KB
• tphs-20240331_pre.xml (EX-101.PRE) — 336KB
• tphs-20240331x10q_htm.xml (XML) — 928KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 23 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 33 Item 4.

Controls and Procedures

Controls and Procedures 33 PART II. OTHER INFORMATION 34 Item 1.

Legal Proceedings

Legal Proceedings 34 Item 1A.

Risk Factors

Risk Factors 34 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 34 Item 3. Defaults Upon Senior Securities 34 Item 4. Mine Safety Disclosures 34 Item 5. Other Information 34 Item 6. Exhibits 35 2 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Condensed Consolidated Financial Statements (unaudited)

Item 1. Condensed Consolidated Financial Statements (unaudited) TRINITY PLACE HOLDINGS INC. CONSOLIDATED BALANCE SHEETS (unaudited) (In thousands, except par value and share amounts) March 31, December 31, 2024 2023 ASSETS Real estate, net $ — $ 62,324 Residential condominium units for sale — 184,561 Cash and cash equivalents 285 264 Restricted cash 3,693 8,081 Prepaid expenses and other assets, net 277 2,774 Pension asset 1,370 1,370 Receivables 120 356 Deferred rents receivable — 307 Right-of-use asset 418 519 Intangible assets, net — 6,952 Total assets $ 6,163 $ 267,508 LIABILITIES Loans payable, net $ — $ 194,628 Corporate credit facility, net — 40,791 Secured line of credit — 11,750 Losses in excess of investment in unconsolidated joint venture 792 — Accounts payable and accrued expenses 565 28,273 Accrued professional fees 1,690 1,545 Lease liability 458 569 Total liabilities 3,505 277,556 Commitments and Contingencies STOCKHOLDERS' (DEFICIT) EQUITY Preferred stock, $ 0.01 par value; 40,000,000 shares authorized; no shares issued and outstanding — — Preferred stock, $ 0.01 par value; 2 shares authorized; no shares issued and outstanding at March 31, 2024 and December 31, 2023 — — Special stock, $ 0.01 par value; 1 share authorized, issued and outstanding at March 31, 2024 and December 31, 2023 — — Common stock, $ 0.01 par value; 79,999,997 shares authorized; 70,736,447 and 44,965,083 shares issued at March 31, 2024 and December 31, 2023, respectively; 63,793,850 and 38,199,386 shares outstanding at March 31, 2024 and December 31, 2023, respectively 708 450 Additional paid-in capital 149,596 145,301 Treasury stock ( 6,942,597 and 6,765,697 shares at March 31, 2024 and December 31, 2023, respectively) ( 57,665 ) ( 57,637 ) Accumulated other comprehensive loss ( 2,137 ) ( 2,257 ) Accumulated deficit ( 87,844 ) ( 95,905 )

View Full Filing

View this 10-Q filing on SEC EDGAR