Zacks Equity Research, Chicago, has designated Affordable Residential Communities Inc. its "Bear of the Day" -- a stock expected to underperform the markets over the next three to six months -- for Dec. 5.Affordable Residential, a real estate investment trust, is a Denver-based owner and operator of manufactured-home communities. Zacks said the REIT exceeded Zacks' funds-from-operations estimates for the third quarter, but that the estimates had been "significantly lowered" because of disappointing results. Furthermore, the company pays no dividend, has high debt levels, and "is in an industry with little pricing power," Zacks said. Occupancy remains low, and the company is "valued well above better-positioned peers," according to the equity research firm. "We don't see much upside in the next few quarters, and ARC will continue to struggle throughout 2007," Zacks said. Zacks can be found online at http://www.zacks.com.
-
The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
36m ago -
Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
April 25 -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25 -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
April 25 -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
April 25 -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25