S&P 500 hits high as Bernanke pledges "accommodative" policy
The Standard & Poor's 500 index and the Dow Jones industrial average closed at record highs Thursday after Federal Reserve Chairman Ben Bernanke said stimulus withdrawal is further away than many investors had thought. Bernanke said the Fed's basic message to the market is that "a highly accommodative policy is needed for the foreseeable future." Reuters
(7/11), CBS MoneyWatch
(7/11)
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Fed is expected to keep eye on housing when tapering starts
When the Federal Reserve begins to scale back stimulus, the trick is doing so without stifling the housing recovery. Toward that end, the central bank is expected to maintain its purchase of mortgage-backed securities, even as that curtails its buying of Treasurys. Bloomberg
(7/11)
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Office REITs outpace equity REIT index
Office REITs outperformed the FTSE NAREIT Equity REIT Index in the first half of the year. Through the end of June, office REITs posted total returns of 6.71% for the year, which is higher than the 6.49% increase for the equity REITs index but lower than the 12.50% return of the S&P 500. REIT.com
(7/11)
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Brown: Hotel, industrial REITs are attractive investments now
Steve Brown, senior portfolio manager with American Century Investments, says REITs are attractive investments now, especially those that focus on the hotel and industrial sectors.
"We’ll probably have higher rates, better economic growth in the second half of 2013, as well as a little more concern about inflation. So, these REITs that have shorter lease types, such as hotel, industrial and mall sectors, should perform pretty well in the second half of 2013." REIT.com
(7/11)
Cruse: Travel is returning
The travel industry has recovered nicely, giving a boost to the lodging sector, says Ken Cruse, CEO of Sunstone Hotel Investors.
"Business travelers are hitting the road in record numbers," he says. "Leisure travelers are coming back very strongly." REIT.com
(7/11)
Residential foreclosures decrease in U.S.
Home-foreclosure filings totaled 127,790 last month, down 35% from June 2012 and the fewest since December 2006, according to RealtyTrac. In the first six months of this year, 801,359 properties were in some stage of foreclosure, 23% less than in the first half of 2012. TheStreet.com
(7/11)
Other News
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NAREIT Launches App for REIT Investors
NAREIT has launched a mobile app created for the investor community called the REIT Investor App. The REIT Investor App offers investors a clean, concise experience, allowing the user to quickly check the pulse of the industry from a macro level down to specific companies. Within minutes, the end-user has a very clear understanding of current trends and information that could be shaping the market or influencing a specific company’s performance. Investors have the ability to scan indexes, stock prices and other financial data, and can use filters to narrow a search down to specific segments of the industry. Users can also drill down into individual company specifics including financial data, events, news and press releases.
To download the complimentary REIT Investor App, search "REIT Investor" in Apple's App Store.
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