Cedar Shopping Centers Inc., a real estate investment trust based in Port Washington, N.Y., has priced 7.5 million shares of common stock at $16 per share.The estimated net proceeds of $113.9 million are expected to be used to repay amounts outstanding under Cedar's secured revolving credit facility, the REIT said. The underwriters have been granted an option to buy up to 1.125 million additional shares to cover any overallotments. Citigroup and Banc of America Securities LLC are the joint book-running managers for the offering, and Raymond James is the lead manager.
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The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
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The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
April 24 -
Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
April 24 -
A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
April 24 -
The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
April 24 -
The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
April 24