Ashford Hospitality Trust, a real estate investment trust based in Dallas, has priced an offering of 2.0 million shares of 8.55% cumulative preferred stock at $25 per share.The proceeds of $48 million will be used for general corporate purposes, including the acquisition of additional hotel investments, Ashford said. Wachovia Securities and Friedman Billings Ramsey were the joint book-running managers of the offering, and Legg Mason Wood Walker Inc. and Stifel, Nicolaus & Co. were the co-managers. The underwriters were granted a 30-day option to buy up to 300,000 additional shares to cover any overallotments. The REIT can be found online at http://www.ahtreit.com.
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The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
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Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
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Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
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The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.
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Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
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