Leveraged Real Estate ETF Soars Wednesday, September 8, 11:10 AM ET, by Market News Video Staff The ProShares Ultra Real Estate ETF (URE) has returned 72% over the last year. While ...
Five Day ETF Leaders and Laggards: PSI, REZ Wednesday, September 29, 11:45 AM ET, by Market News Video Staff The Dynamic Semiconductors Portfolio ETF (PSI) is outperforming other ETFs over the last five days, ...
REIT ETFs Show Strength Monday, October 4, 3:40 PM ET, by ETF Channel Staff A weakness in the markets today is not stopping REIT ETFs from rising. The Vanguard ...
GGP Emerges from Ch. 11 Wednesday, November 10, 9:17 AM ET, by Market News Video Staff General Growth Properties said late yesterday it has completed its Chapter 11 reorganization, and will ...
By Market News Video Staff, Tuesday, November 16, 8:24 AM ET
General Growth Properties (NYSE:GGP) said late yesterday its 135 million share public offering of common stock has been priced at $14.75 per share. The closing of the offer is expected on November 19, and its underwriters have options to purchase about 20.3 million additional shares at the public offering price. The offering comes as the company restructures itself post-bankruptcy.
GGP said its agreements with Fairholme Fund, Pershing Square Capital Management and Teacher Retirement System of Texas, an integral feature of its reorganization, provide it with the flexibility to replace up to $2.15 billion of the $6.8 billion in equity commitments, funded on November 9, by these plan sponsors on more favorable terms though a clawback provision.
A reorganized GGP will invest mainly in shopping malls and other real estate, competing with #1 retail REIT, Simon Property Group (NYSE:SPG).
Simon, at 21.94% of the portfolio, is the largest holding of the iShares FTSE NAREIT Retail Capped Index Fund (AMEX:RTL), followed by Kimco Realty (NYSE:KIM) at 12.01%.
Macerich (NYSE:MAC), CBL & Associates (CBL), and Weingarten Realty Investors (WRI) round out the top five holdings in the fund.
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Week Ahead Market Report: May 21, 2012
Monday Sector Leaders: Precious Metals, Auto Parts
Monday Sector Leaders: Precious Metals, Auto Parts
Monday 5/21 Insider Buying Report: PAA, HEK
Monday Sector Laggards: Agriculture & Farm Products, Food Stocks
