July 7, 1998
The following REITs are based in Southern California. The chart shows their closing prices as of July 2, their low and high share prices during the last year and their yield per share. *--* Ticker July 2 So. Cal. REITs symbol Exchange close Low Alexander Haagen Properties* ACH AMEX $14.88 $13.75 Alexandria Real Estate Equities ARE NYSE 29.75 22.25 American Residential Investment Trust INV NYSE 9.63 8.94 Angeles Mortgage Investment Trust ANM AMEX 18.25 14.88 Apex Mortgage AXM NYSE 10.88 10.19 15.
April 20, 1999
Shares of many real estate investment trusts jumped last week as investors returned to this long-neglected market sector. Here's how stocks of 28 Southland-based REITs performed last week, their 52-week high and low prices, and current dividend yields. Note that the yields are based on dividends paid over the last year and may not necessarily reflect what the REIT expects to pay going forward. *--* Ticker April 9 Monday Chg. since REIT symbol close close April 9 Low* IndyMac Mortgage NDE $11.
May 22, 2007 |
Diversifying its operations, Irvine-based Impac Mortgage Holdings Inc. said Monday that it would acquire the lending arms of Pinnacle Financial Corp. of Orlando, Fla., which has branches in 26 states. Impac said it would take over the leases on Pinnacle's offices, but gave no additional financial details. Pinnacle founders Douglas Long and Jeffrey Vratanina are to become managing directors of Impac Home Lending, a newly formed division.
October 9, 1998 |
In another sign of trouble in the sub-prime lending industry, Impac Mortgage Holdings said Thursday it will delay payment of its third-quarter dividend and will not make a payout to shareholders for the fourth quarter. The Santa Ana Heights-based lender also said it expected to lose up to $22.9 million in the third quarter, which ended Sept. 30, because of the fall in market value of many of its holdings that it needs to liquidate. Analysts had expected the company to earn about $12 million.
April 10, 2007 |
American Home Mortgage Investment Corp. shares fell 15% after the company's loans attracted few bids from investors, fueling concern that losses at sub-prime lenders are spreading to companies that sell less-risky loans. The Melville, N.Y.-based company reported few bids and lower-than-expected prices for its Alt-A mortgages, a category that is below prime loans for the low-risk customers but above sub-prime loans for people with credit problems. A week earlier, M&T Bank Corp.