SAN DIEGO (STL.News) – Realty Income Corporation (Realty Income,NYSE: O), The Monthly Dividend Company®, today announced the company will celebrate its 25th anniversary of listing on the New York Stock Exchange (NYSE) by ringing The Closing Bell® on Monday, August 19, 2019 at 4:00pm Eastern Daylight Time.
Commenting on this notable milestone, Sumit Roy, Realty Income’s President and Chief Executive Officer said, “We are proud to commemorate our 25th anniversary as a publicly traded company by ringing The Closing Bell® at the NYSE.
SEATTLE (STL.News) – Blokable, the vertically integrated developer that builds high-quality, low-cost, and connected housing, today announced the completion of its Series A financing of $23 million. Vulcan Capital leads the round and the firm’s YB Choi has joined Blokable’s board of directors. Additional Series A investors include Building Ventures, Jason Calacanis’ LAUNCH, Kapor Capital, Marc Benioff, Motley Fool Ventures, Ten Eighty Capital, and angel investor Dennis Joyce.
The Series A funding will support Blokable’s product development and manufacturing expansion for its West Coast project pipeline.
GREENWICH (STL.News) – Starwood Property Trust (NYSE: STWD) today announced that on August 15, 2019 the Company closed STWD 2019-FL1, a $1.1 billion managed Commercial Real Estate Collateralized Loan Obligation ( the “CRE CLO”) which is the largest CRE CLO issued post crisis. The CRE CLO accretively finances interests in 21 loans with an 85.125% initial advance rate at a weighted average coupon at issuance of L+1.34%, before transaction costs. The structure features a two-year reinvestment period.
DENVER (STL.News) – July home sales bounced back after a sluggish June by increasing 2.4% year over year, according to the RE/MAX National Housing Report. This was enough to end nine months of year-over-year inventory growth as the number of homes for sale declined 1.4%.
A drop in home sales from June to July is typical in the report’s 53 metro areas. But the 0.2% decline from June to July 2019 was by far the smallest month-over-month decline since July 2013.
SANTA CLARA (STL.News) – “How much can I afford?” is one of the largest decisions that faces every home buyer, no matter his or her budget or where he or she wants to live. Realtor.com®, the Home of Home Search℠, today announced an industry-first monthly payment filter that helps buyers stick to their budget by hiding homes that exceed their target monthly payment, as well as two new calculators that help take the financial guesswork out of home buying.
DENVER and TORONTO (STL.News) – VersaPay Corporation (TSXV: VPY) (“VersaPay”), a leading provider of cloud-based invoice-to-cash solutions including electronic invoice presentment and payment, automated accounts receivable, cash application and collections management, is pleased to announce that it will be co-presenting with two of its clients at InFocus 2019. The event is Oracle JDE’s annual users’ conference being hosted in Denver, Colorado, August 20 – 22, at Sheraton Denver Downtown.
Craig O’Neill, VersaPay CEO will share the stage with Brad Hughart, VP of Information Technology at PREIT to discuss how accepting credit card payments can improve the tenant’s experience and help commercial real estate owners and managers get paid faster.
MADISON (STL.News) – With real estate more ‘Glocal’ than ever, the news announced today by Century 21 Real Estate that its system is now operating in 10,000 offices worldwide provides a competitive advantage for home buyers and sellers, and for securing long-term growth and market share for the C21® Network’s affiliated brokers. The unprecedented global reach of the CENTURY 21® brand is a connection and collaboration of 130,000+ relentless independent sales professionals in 82 countries and territories who live their mission to defy mediocrity and delivery extraordinary experiences, and a presence that so-called disruptors, and others in the industry, cannot match.
MIAMI (STL.News) – Venture X — a global, shared workspace franchise based in West Palm Beach, Fla.— was officially ranked as one of South Florida’s 2019 fastest-growing private companies at the South Florida Business Journal Fast 50 awards presentation last Thursday. President Jason Anderson and several members of the team attended Thursday’s event to accept the ranking as Venture X earned the No. 3 spot on SFBJ’s top companies with less than $25 million in revenue.
Does the stock market tell us anything about the economy? The stock market seems to react continually to various data and economic news, and many of us follow its day-to-day changes, especially if we’re invested in it. But do fluctuations in the stock market actually reflect economic health?
The best measure we have for measuring total economic activity is GDP. But GDP is measured only quarterly and with a considerable lag. With the help of FRED, though, we can look at a decade’s worth of data to see how closely GDP relates to the stock market.
The graph above looks at quarter-to-quarter percent changes in the Dow Jones Industrial Average (DJIA), deflated to remove general price increases, and real GDP, which is by definition also deflated to remove general price increases. Of course, the stock market is very volatile, but it’s too hard to see any relationship in this line graph. A