SINGAPORE/JAKARTA, October 24 Fitch Ratings assigned Indonesia-based PT Lippo Karawaci TBK's /Stable) proposed US dollar-denominated senior unsecured notes an expected rating of 'BB- '. The notes will be issued by Lippo's wholly owned subsidiary, Theta Capital Pte Ltd, and guaranteed by Lippo and its subsidiaries.
Interest rates have a strong influence on equity REIT performance, as evidenced by the graphic below, which displays the relationship between the 10-year Treasury yield and the relative performance of the S&P 500 Banks Index to the S&P 500 Real Estate Investment Trusts REITS Industry Index. Note that banks have generally outpaced REITs when interest rates are rising, and have tended to lag when interest rates are declining.
's stock had its "equal weight" rating reissued by stock analysts at S&P Equity Research in a report released on Monday. Shares of Vanguard REIT Index Fund traded down 0.37% during trading on Monday, reaching $83.47.
We've provided a ranking of the best and worst performing big-dividend REITs year-to-date, and we've also provided five recommendations on how to "play" the current state of the REIT market. We are avoiding Corrections Corp, Geo Group, Communications Sales, and Annaly Capital.
Analysts at Cantor Fitzgerald have upgraded shares of equity REIT EastGroup Properties Inc due to attractive industrial fundamentals. Cantor Fitzgerald has upgraded shares from a Sell rating to a Hold, citing attractive industrial real estate fundamentals in the company's top markets outside of Houston.
Communications Sales & Leasing, Inc. announced today it completed the repricing of $2.1 billion in term loans outstanding under its senior secured credit agreement. The interest rate decreased by 50 basis points to LIBOR plus 3.50% per annum .
On October 13, 2016, the IRS and the Treasury Department issued new rules largely designed to prevent highly related corporate taxpayers from claiming the tax benefits of "earnings stripping," or the payment of excessive deductible interest by a corporation to a related person when such interest is tax-exempt in the hands of the related person. These new rules were issued as temporary and final regulations under Section 385 of the Internal Revenue Code , which gives the Treasury Department authority to write rules governing when an interest in a corporation is debt or equity.