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Apartment Rental Rates Set To Spike Upward (As Of 08-12-2009)

Fri, 14 Aug 2009 14:14:14 GMT

Many apartment owners can't wait until 2012. If the economy recovers, they will be looking at a perfect storm of events - a shortage of available entry-level housing units, a boom in demand driven largely by Millenials (real-estate jargon for those just about ready to strike out on their own), and the ability to push rents significantly higher due to a shortage of suitable apartments. Tom Bozzuto, CEO of the Bozzuto Group, a Greenbelt, MD.-based multifamily manager overseeing 28,500 units in the Mid-Atlantic states, told Multifamily Executive Magazine recently that "It's not a lot of fun right now to be in the apartment business. But, you take pleasure in knowing that this is the trough in the wave." Other pros in the field feel exactly the same way. Ron Terwillinger, chairman of the country's largest multifamily builder, Trammell Crow Residential based in Dallas, TX expects rents to increase 5% in 2010 and another 10%[More...]

The Best Performing Apartment REIT For 2009

Mon, 09 Feb 2009 02:22:00 GMT

Zillow's incredible report that American homes lost about $1.4 trillion in value in the fourth quarter of 2008 alone is directly connected to the dismal earnings now being reported by Apartment REITs. But first, one amazing factoid: this one quarter decline is more[More...]

Vornado Realty Raises Qtr. Dividend 5.3% and Others

Fri, 07 Nov 2008 14:24:00 GMT

Sometimes a cash rich company will declare a special one-time dividend to eliminate surplus cash. These special dividends are generally ignored when evaluating a company's dividend growth performance. An example, of this would[More...]

6 Dividend Stocks Rewarding Their Shareholders With Higher Payouts

Mon, 03 Nov 2008 15:32:00 GMT

Last week was marked by more volatility which doesn’t seem to surprise anyone. Luckily this time the direction was up as the stock market had its best week since 1974, mainly fueled by the half a percentage point interest cut by the Federal Reserve as well the smaller than expected contraction in the GDP. During those large swings up and down it is easy for investors to lose focus on the big picture and not sticking to their financial plan by converting all of their holdings to cash. Luckily there were several dividend companies that reminded their patient long-term holders that increasing dividend payments could help them out in increasing their total returns over time. Vornado Realty (VNO) announced that its Board has approved a 5.60% increase in its quarterly dividend from $0.90 to $0.95 per common share. Vornado Realty is a [More...]

From Doom to Boom

Mon, 08 Sep 2008 22:06:00 GMT

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Home Properties Closes on Revolving Credit Facility

Tue, 01 Sep 2009 20:49:00 GMT

ROCHESTER, N.Y., Sept. 1 /PRNewswire-FirstCall/ -- Home Properties today announced it entered into a $175 million revolving line of credit agreement beginning September 1, 2009 for a two-year term expiring August 31, 2011 with an optional one-year extension.
The new credit facility is an increase of $35 million over the maturing borrowing capacity of $140 million.
Based on the Company's current corporate credit rating of 'BBB' (Triple B), the new credit facility interest rate ranges from 2.5% to 3.25% over the one-month LIBOR rate, increasing at higher levels of outstanding indebtedness, with a LIBOR floor of 1.5%.

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IEC Announces the Addition of Amy L. Tait to Its Board of Directors

Tue, 18 Aug 2009 21:35:00 GMT

NEWARK, NY -- -- 08/18/09 -- IEC Electronics Corp. today announced that Amy L. Tait was elected to the Board of Directors of the Company. Ms. Tait currently serves as CEO of Broadstone Real Estate, LLC, a commercial real estate investment, management and development company. Amy also serves as a director of Home Properties, Inc., , where she chairs their Real Estate Investment Committee.[More...]

Home Properties Reports Second Quarter 2009 Results and Declares Dividend

Thu, 06 Aug 2009 23:48:00 GMT

ROCHESTER, N.Y., Aug. 6 /PRNewswire-FirstCall/ -- Home Properties today released financial results for the second quarter ending June 30, 2009.
All results are reported on a diluted basis.
For the second quarter of 2009, same-property comparisons (for 104 "Core" properties containing 35,360 apartment units owned since January 1, 2008) reflected a decrease in total revenues of 0.2% compared to the same quarter a year ago.

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Wayne Village Holds Pet Drive

Tue, 21 Jul 2009 19:01:00 GMT

Wayne Village, a Home Properties apartment community located in Wayne, NJ, recently held a pet supply drive to benefit the Wayne Animal Shelter. It was, according to Property Manager Silvia Velasco, a 'huge success.''We'd held community events in the past, but we wanted to do something different,' Velasco said. 'We wanted to do something that everyone could help with.' And help they did - despite this being the very first Wayne Village pet supply drive, the amount of food, treats, blankets and other supplies donated was extraordinary. In fact - despite there being only 275 apartments in the community - it is estimated that they took in about $2,000' worth of pet supplies and accessories. 'We received so much that we couldn't fit it all in one office - we had to move it to a bigger storage area,' Velasco said.Due to the trying economic situation, local pet shelters had become crowded and supplies were running low, so this pet supply drive was well needed. 'With money tight and with the cost of pet food increasing dramatically, families can't afford to take care of pets, so the pets end up in the shelter. Some people are forced to move into apartments that aren't pet-friendly as well, so those pets end up in the shelter, too,' Velasco explained. Since Wayne Village has pet-friendly apartments , it is only natural that the residents would be so willing to help out this worthy cause.Thanks to the kind donations from the residents of Wayne Village, some of the stress caused by the overcrowding has been alleviated. 'We are at full capacity right now,' said one person at the animal shelter,' so these donations have been very helpful.' The animals like the donations too. 'You should see the kittens playing with their new toys,' the animal shelter employee said.Indeed, the residents were very helpful and extremely happy with the event. The results were so great, in fact, that Wayne Village is considering doing more pet supply drives in the future. 'Because the residents were so generous,' Velasco said, 'we may make this an annual event.'Home Properties is a publicly traded apartment real estate investment trust that owns, operates, develops, acquires and rehabilitates apartment communities primarily in select Northeast, Mid-Atlantic and Southeast Florida markets. Currently, Home Properties operates 109 communities containing 37,539 apartment units. Of these, 36,389 units in 107 communities are owned directly by the Company; 868 units are partially owned and managed by the Company as general partner, and 282 units are managed for other owners. For more information, visit Home Properties' Web site at http://www.homeproperties.com.[More...]

Tamarron's 'Green' Community Wins 2009 County Recycling Award

Wed, 03 Jun 2009 16:48:00 GMT

Home Properties today announced that Tamarron Apartments, in Olney, MD has received a 2009 Recycling Achievement Award from Montgomery County.[More...]

Home Properties Reports First Quarter 2009 Results and Declares Dividend

Wed, 06 May 2009 21:50:00 GMT

ROCHESTER, N.Y., May 6 /PRNewswire-FirstCall/ -- Home Properties today released financial results for the first quarter ending March 31, 2009.
All results are reported on a diluted basis.
"Positive revenue and net operating income growth in the first quarter of 2009 place Home Properties among the highest performers in the apartment REIT sector in a very challenging economic environment," said Edward J. Pettinella, Home Properties President and CEO.

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Home Properties Announces Dates for First Quarter Results

Mon, 23 Mar 2009 14:54:00 GMT

Home Properties, Inc. will release its first quarter financial results after the stock market closes on Wednesday, May 6, 2009. A conference call and live webcast will follow on Thursday, May 7, 2009, at 11:00 AM ET, which will include an update on Company results and outlook, followed by a question-and-answer session.[More...]

Home Properties Reports Fourth Quarter and Year-End 2008 Results

Thu, 19 Feb 2009 20:56:00 GMT

Home Properties today released financial results for the fourth quarter and year ended December 31, 2008. All results are reported on a diluted basis.[More...]

Home Properties Declares Dividend - Feb 10 2009 10:49AM

Tue, 10 Feb 2009 14:37:00 GMT

Home Properties today announced that on February 9, 2009 it declared a regular cash dividend on the Company's common shares of $0.67 per share for the quarter ended December 31, 2008. The cash dividend is payable on February 27, 2009 to shareholders of record on February 20, 2009 and is equivalent to an annualized rate of $2.68 per share. The current annual dividend represents an 8.25 percent yield based on Monday's closing price of $32.49. Home Properties' common stock will begin trading ex-dividend on February 18, 2009.[More...]

Home Properties Announces Dates For Fourth Quarter Results

Tue, 20 Jan 2009 14:48:00 GMT

Home Properties, Inc. will release its fourth quarter financial results after the stock market closes on Thursday, February 19, 2009. A conference call and live webcast will follow on Friday, February 20, 2009, at 11:00 AM Eastern Time, which will include an update on Company results and outlook, followed by a question-and-answer session.[More...]