Zacks Equity Research, Chicago, announced Monday that it had made Equity Office Properties Trust its "Bear of the Day" -- a stock expected to underperform the markets over the next three to six months -- for July 17.Zacks said the Chicago-based real estate investment trust continued to experience poor operations in the first quarter, with large rent rolldowns, low (but rising) occupancies, and high capital expenditures. "Earnings will continue to suffer dilution through dispositions, as the company cannot replace lost income fast enough," Zacks said. The company said there are better office REIT alternatives with safer dividends, but added that "we are starting to see improving fundamentals in some of the company's key markets." Zacks can be found online at http://www.zacks.com, and the REIT can be found at http://www.equityoffice.com.
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A federal judge in Texas dismissed the Consumer Financial Protection Bureau's medical debt rule and prohibited states from passing their own laws prohibiting medical debt on credit reports.
6h ago -
Dr. Mark Calabria takes on the additional role of chief statistician of the United States; retired Ally Bank executive Diane Morais has joined First Citizens Bancshares' board of directors; MainStreet Bank has promoted Alex Vari to chief financial officer; and more in this week's banking news roundup.
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While refinances are behind the latest increases, the pace of purchase activity may be a stronger indicator of where the housing market sits.
11h ago -
The share of economists expecting a September rate reduction grew in the July Wolters Kluwer survey, but the October or later percentage also increased.
11h ago -
Rising home prices and softening sales offer a mixed view of a market that some say is shifting to favor buyers.
11h ago -
The notes are backed by home improvement installment loans originated by approved dealers in Foundation Finance Company's network.
July 11