The Federal Reserve’s softened views on interest rates, following its finding that suspending planned rate hikes would pose few risks, has boosted real estate investment trusts, the Wall Street Journal reported this week.
“Investors have been scooping up REIT shares because of their large dividends, strong earnings growth and cheap valuations,” the Journal reported.
We may be seeing more REIT IPOs in 2019, Cedrik Lachance, director of REIT research at Green Street Advisors, told National Real Estate Investor.
“I’d say the REIT market is healthy, and the recent increase in share prices might actually bring a little bit more IPO activity and might make the public real estate market an interesting alternative for a lot of currently-private owners of real estate,” he said.
Salt Lake City was also one of three cities highlighted by Morningstar Credit Ratings for their economic growth despite having been rejected by Amazon as HQ2 locations.
“Amazon may not have selected Charlotte, Houston or Salt Lake City, but the process of putting forth their candidacy may already be bearing fruit,” CrediFi CEO wrote in Forbes.
Dollar Tree will close nearly 400 of its Family Dollar stores this year, and another 200 will be rebranded as Dollar Tree stores, the retailer announced this week.
Family Dollar has been a poor performer, even before it was acquired by Dollar Tree in 2015, Fortune reported.
The news comes even though discount retailers were “once hailed as the antidote to Amazon,” as Vox put it.
The tornado that sowed a path of destruction through Alabama and Georgia killed at least 23.
An airport and industrial park were damaged, along with homes, apartments and a massive cell tower.
Previous deadly tornadoes, such as the Moore, Oklahoma, tornado of 2013 and the Tuscaloosa-Birmingham tornado of 2011, resulted in the combined deaths of about 300 people, in addition to an estimated $4 billion in total damage.
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This Week in CRE: Fed Pause on Rate Hikes Explained, CBRE Moves Into Coworking, Ninth Inning Isn’t Always Last