RECENT NEWS
First Union Upgrades Archstone to Strong Buy from Buy
October 27, 2000 (NewsTraders.com) – Predicting that the strong core growth displayed by Archstone Communities Trust (NYSE:ASN) in recent quarters should continue, First Union Securities analyst Stephen Swett today upgraded the REIT to "strong buy" from "buy."Swett left...
Crown American 3rd Qtr. FFO $0.31/shr vs. $0.26/shr
October 27, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln) $8.1 $6.6 $24.0 $21.4 FFO/shr (diluted)$0.31 $0.26 $0.92 $0.82 Extra Gain (Loss) $(.21) $------ $(.19) $------ Net Income (mln) $(3.8) $(2.6) $(7.7) $(6.7) Net/shr$NA $NA $NA $NA Revenue (mln)$40.8...
Prologis Trust 3rd-Qtr FFO $0.57/shr vs $0.52/shr
October 27, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln) $97.7 $87.5 $279.3$228.9 FFO/shr (diluted)$0.57 $0.52 $1.64 $1.48 Revenue (mln)$175.8 $175.4$515.8$462.7Shares Out. (mln)178.7176.3 178.6 164.1
Malan Realty 3rd Qtr. FFO $0.44/shr vs. $0.44/shr
October 27, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln) $4.1 $4.2 $8.4 $12.5 FFO/shr (diluted)$0.44 $0.44 $0.91 $1.33 Net Income (mln) $.62 $.72 $1.4 $3.3 Net/shr$0.12 $0.14 $0.29 $0.82 Revenue (mln)$10.3 $10.3 $34.6 $33.8 Shares Out. (mln) 5.2...
Friedman Billings Lowers ProLogis to Accumulate, $22 Goal
October 27, 2000 (NewsTraders.com) – Friedman Billings Ramsey analyst Merrill Ross today downgraded ProLogis Trust (NYSE:PLD) to "accumulate" from "buy." The Aurora, Colo.-based REIT posted third-quarter results that were in line with the analyst's expectations, but also warned...
Swerdlow Gets Financing to Build Orlando Shopping Center
October 27, 2000 By Paul Gereffi, Commercial Real Estate Direct CorrespondentORLANDO, Fla. – Swerdlow Real Estate Group has obtained $26.25 million of construction financing to develop the Orlando Millennium Plaza shopping center.The 30-month construction loan is being made...
S&P Lowers 2 Classes of Asset Sec. Corp.’s 1997-MD VII
October 27, 2000 Standard & Poor's today lowered its ratings on two classes of Asset Securitization Corp.'s 1997-MD VII and affirmed the other classes that it rates in the series.The rating agency downgraded both class B-1 and class...
Archstone Communities 3rd Qtr. FFO $0.61/shr vs. $0.50.shr
October 27, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln) $80.9 $72.1 $233.8 $211.8 FFO/shr (diluted)$0.61* $0.50 $1.66* $1.44 Net Income (mln) $115.0 $106.9 $347.1 $308.7 Net/shr$0.61 $0.50 $1.66 $1.44 Revenue (mln)$188.2 $168.9 $551.1 $493.6 Shares Out. (mln) 133...
First Union to Provide $140 Mln of Financing to Cornerstone Realty
October 27, 2000First Union Securities Inc. has agreed to provide Cornerstone Realty Income Trust Inc. (NYSE:TCR) with about $140 million in secured financing.The 10-year interest-only loan will bear a fixed annual interest rate of 7.35 percent and will...
Prime Hospitality Reports 3rd Qtr. Net $0.34/shr vs. $0.03/shr
October 27, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99Net Income (mln) $15.7 $1.4 $50.5 $23.9 Net/shr$0.34 $0.03 $1.08 $0.45 Revenue (mln)$146.8 $140.8 $425.3 $420.2 Shares Out. (mln) NA NA NA NA
Midland Loan to Buy Univest
October 27, 2000 Midland Loan Services Inc. has agreed to buy Univest Financial Group LLC, a technology firm that has developed an Internet-based commercial loan-servicing software package.Terms of the deal were not disclosed.The acquisition gives Midland, a unit...
Prudential Upgrades Charles E. Smith
October 27, 2000 (NewsTraders.com) – Prudential Securities analyst Lou Taylor today upgraded Charles E. Smith Residential Realty (NYSE:SRW) to "accumulate" from "hold" and hiked his price target for the REIT to $46 from $44.On Wednesday, the Crystal City,...
Fitch Unveils Quarterly Commercial Real Estate Update
October 27, 2000 Fitch IBCA, Duff & Phelps' commercial real estate group, has launched a quarterly newsletter in an effort to improve communications with commercial mortgage-backed securities and REIT investors.Topics covered in the newsletter: a recap of a...
Swerdlow Offers Land in Orlando
October 27, 2000 By Paul Gereffi, Commercial Real Estate Direct CorrespondentORLANDO- Swerdlow Real Estate Group, which is developing the Orlando Millennium Plaza, is offering for sale 14 acres of land next to the shopping center.The parcel was to...
Equity Inns 3rd Qtr. FFO $0.45/shr vs. $0.52/shr
October 27, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln) $17.1 $19.9 $44.3 $50.5 FFO/shr (diluted)$0.45 $0.52 $1.17 $1.31 Net Income (mln) $5.2 $7.8 $(4.3) $5.1 Net/shr$0.10 $0.17 $(0.25) $0.00 Revenue (mln)$29.4 $30.5 $67.2 $69.5 Shares Out. (mln) 38.0...
Impac Mortgage 3rd-Qtr. Net $0.12/shr vs. $0.22/shr
October 27, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99Net Earnings (mln) $3.3 $6.2 $11.0 $18.4 Net/shr$0.12 $0.22 $0.40 $0.63 Shares Out. (mln) 21.4 22.0 21.4 22.0
BofA Provides $200 Mln Financing for 2 Manhattan Hotels
October 27, 2000 Banc of America Securities LLC has provided Forest City Ratner Cos. with a $200 million financing package for two newly constructed hotels in New York City.Banc of America worked with Financial Structures Ltd., a Bermuda...
American Industrial 3rd Qtr. FFO $0.39/shr vs. $0.36/shr
October 26, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln) $8.3 $7.5 $24.0 $21.3 FFO/shr (diluted) $0.39 $0.36 $1.14 $1.04 Extra Gain (Loss) $(.10) $(.11) $2.9 $(.75) Net Income (mln) $5.2 $3.5 $16.6 $10.9 Net/shr$0.0.25 $0.17 $0.79 $0.53 Revenue...
Canada Digest (10/26/00): Construction to begin on office tower in Toronto
October 26, 2000 O&Y Properties to begin construction of office tower in TorontoCanada News Wire, October 26TORONTO – O&Y Properties Corp. will begin construction on Nov. 2 on a 430,000-square-foot, 20-story office tower at 2 Queen St. E....
DLJ Conduit To Price Friday Morning
October 26, 2000 Commercial Real Estate Direct The $1.3 billion DLJ Commercial Mortgage Corp. Series 2000-CKP1 conduit deal is due to price by late tomorrow morning, sources close to the deal say. Underwriters with Donaldson, Lufkin & Jenrette...
Agree Realty 3rd Qtr. FFO $0.62/shr vs. $0.61/shr
October 26, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln) $3.1 $3.1 $9.1 $9.0 FFO/shr (diluted)$0.62 $0.61 $1.80 $1.80 Net Income (mln) $1.9 $1.8 $5.2 $5.1 Net/shr$0.43 $0.40 $1.19 $1.17 Revenue (mln)$5.3 $4.8 $15.6 $14.3 Shares Out. (mln) 5.1...
Corrections Corporation of America to Settle Shareholder Litigation for $123 Mln
October 26, 2000 NASHVILLE, Tenn. – Corrections Corporation of America (NYSE:CXW) has agreed to pay about $123 million to settle all outstanding stockholder litigation against the company and certain of its existing and former directors and executive officers....
Cabot Industrial 3rd Qtr. FFO $0.48/shr vs. $0.46/shr
October 26, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln) $25.0 $22.3 $72.9 $62.7 FFO/shr (diluted)$0.48 $0.46 $0.96 $0.99 Net Income (mln) $13.3 $12.8 $39.0 $35.7 Net/shr$0.57 $0.51 $0.33 $0.31 Revenue (mln)$55.1 $40.5 $158.1 $115.7 Shares Out. (mln) 43.8...
S&P Assigns Single-A Rating to One Class of Asset Sec. Corp., 1996-D2
October 26, 2000 NEW YORK – Standard & Poor's has assigned its single-A rating to class A-3 of Asset Securitization Corp., 1996-D2.As of the end of September, class A-3 had an outstanding balance of $52.8 million. S&P had...
First Washington Realty 3rd Qtr. FFO $0.65/shr vs. $0.61/shr
October 26, 2000 3rd-Qtr 003rd-Qtr 999-mos 009-mos 99FFO (mln) $11.5 $10.6 $33.3 $30.6 FFO/shr (diluted)$0.65 $0.61 $1.90 $1.78 Net Income (mln) $6.8 $6.3 $19.7 $16.8 Net/shr$0.38 $0.37 $1.12 $1.03 Revenue (mln)$24.2 $21.6 $72.1 $64.2 Shares Out. (mln) NA...
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