Public Storage Inc., Glendale, Calif., has priced an additional 2 million depositary shares, expected to be sold to institutional investors, at $25 per share.Each depositary share represents one-thousandth of a share of 6.45% cumulative preferred stock, series F. Combined with an earlier sale of series F shares announced in August, the real estate investment trust said it expects to sell a total of 10 million depositary shares for gross proceeds of $250 million. The sole underwriter for the public offering is Merrill Lynch & Co. The REIT can be found on the Web at http://www.publicstorage.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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But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
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Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
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