logo
  Join        Login             Stock Quote

Prudential Financial (PRU) Unit Provides $12.2B In Commercial Mortgages In 2012

 February 04, 2013 03:57 PM
 


(By Balaseshan) Prudential Financial Inc. (NYSE: PRU) said its commercial mortgage lending business provided more than $12 billion in financing for commercial mortgages in 2012.

Prudential Mortgage Capital Co. provided $12.2 billion in financing for commercial mortgages globally in 2012, reflecting increased demand for financing and expanded lending capabilities at the firm.

The company exceeded its 2012 goal and recorded its second highest total yearly production. The company also said it has as much as $13 billion available for financing in 2013.

"The combination of our diverse platform, international expansion and relationships across the industry led to record production levels in our portfolio and agency lending programs," said David Durning, senior managing director and head of originations for Prudential Mortgage Capital Company.

[Related -What The Market Wants: Slow Market Growth Continues: Consider BCOR, JBLU, PRU]

The 2012 results exceeded the company's $11.6 billion target and represent a 26 percent increase from 2011's $9.7 billion in financing. It includes more than 24 billion yen for new loans in Japan.

The 2012 results also includes the company's expansion into Europe with 87.5 million pounds in new loans in the United Kingdom originated by the London office.

PRU is trading down 2.01% at $57.66 on Monday. The stock has been trading between $44.47 and $65.17 for the past 52 weeks.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageBaseball, Hot-dogs and Apple Pie Stocks for the July 4th Holiday

Three stocks to own for a piece of Americana – baseball, hot-dogs and apple read on...

article imageTenaris SA (TS): Neutral on Sales, Buy on Earnings

Tenaris SA (TS) shares are outperforming the market today. The extra oomph comes via an upgrade from read on...

article imageContainer Store Group Inc. (TCS) Q1 Earnings Preview: Third Time the Charm?

Container Store Group Inc. (NYSE:TCS) will release its financial results for the first quarter of fiscal read on...

article imageUrban Outfitters, Inc. (URBN): Bottom Fishing or Fishing For a New Bottom

It is time to do some bottom fishing with Urban Outfitters, Inc. (NASDAQ:URBN). Well, it is at least what read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.