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Policy Watch | 04/17/2014
The Securities and Exchange Commission has revealed a blueprint for how it plans to ensure financial-services companies can detect and prevent cybersecurity issues. The plan includes questions examiners might ask, such as whether and when malware was detected. "With the public disclosure of this questionnaire, the SEC is giving up the surprise of one aspect of their exam program and opting to provide to SEC-registered financial firms a rare chance to prepare," said John Reed Stark, former chief of Internet enforcement at the regulator. Reuters (4/16)
Policy Watch | 04/17/2014
CBS has received a favorable ruling from the Internal Revenue Service on its plan to convert its outdoor advertising subsidiary, CBS Outdoor Americas, into a REIT. The unit sold 19% of its shares in an initial public offering in March, raising $560 million. Reuters (4/16)
Real Estate Marketplace | 04/17/2014
A small platform is the best way to approach senior housing, says Justin Hutchens, president and CEO of National Health Investors. "We have no ego about being big," he said. "We just want to do smart investments that make sense for all parties involved and ultimately create value at the end of the day." (4/15)
Real Estate Marketplace | 04/17/2014
Newer REIT sectors, such as timber and cell towers, are gaining traction with investors, says Bob O'Brien, partner and U.S. and global real estate services leader at Deloitte & Touche. "There's low correlation with those types of assets and the S&P 500 -- even in some cases with the more traditional REIT segments -- and so it has gotten traction," he said. (4/16)
Real Estate Marketplace | 04/17/2014
REITs and property funds have moved into the single-family home rental market, but some investors are still wary of the relatively new strategy. As the housing market improves, these large investors are facing rising home prices and thinner margins at foreclosure auctions. Some are shifting their focus from acquisition to operations and management. Investor's Business Daily (4/16)
Investment News | 04/17/2014
REITs are spinning off assets into pure-play entities to drive growth and value, says John Good, partner and co-head of the REIT group at law firm Morrison Foerster. "While REITs have for many years been single property types, they're becoming hyper-single property types now," he said. (4/15)
Investment News | 04/17/2014
Irish Residential Properties REIT has begun trading on the Dublin market, becoming the third REIT to join the Irish Stock Exchange. The REIT, a subsidiary of Toronto-based Canadian Apartment Properties REIT, recently raised $277 million from investors. The Irish Times (Dublin) (4/16)
Capital Markets | 04/17/2014
The six largest U.S. banks reported an average 8.3% increase in commercial loans during the first quarter, compared with the same period in the prior year. Bank officials say they are seeing rising demand from businesses of all sizes, and the increased activity is helping make up for lackluster growth in other lending areas. The Wall Street Journal (tiered subscription model) (4/16)
Top News | 04/17/2014
Unemployment in the U.S. remains too high for the central bank to raise interest rates, said Janet Yellen, head of the Federal Reserve. Data indicate that a healthy job market may be "more than two years away," she said. The remarks helped boost U.S. stock prices. The New York Times (tiered subscription model) (4/16)
An expert is someone called in at the last minute to share the blame.
SmartQuote | 04/17/2014
Sam Ewing, American writer and humorist