Category: New York
Here’s Why New York Community Bank Stock Is Down 68% in the First Half of 2024 – The Motley Fool
The regional bank is struggling with the fallout from risky acquisitions and a challenging commercial real estate market. Shares of New York Community Bank (NYCB 7.40%) dropped 68.6% in the first six months of the year, according to data provided by S&P Global Market Intelligence. The bank slashed its dividend in response to a host of issues, and macroeconomic conditions are fueling investor skepticism about its prospects. Slashing the dividend after struggling to manage acquisitions NYCB had a rough first quarter. The company acquired Flagstar Bank and Signature Bank in…
Read MoreReal Estate Market Struggles Impacting Bond Market – Floor Focus
Home News Real Estate Market Struggles Impacting Bond Market New York, NY, July 17, 2024-“The commercial real-estate meltdown is spilling over into the bond market,” reports the Wall Street Journal. “Defaults are mounting in a favorite Wall Street mortgage-bond investment, setting off fresh alarms about the future of offices and malls in cities across the U.S. “There are about $260 billion of the deals, known as single-asset, single-borrower bonds, held by investors such as banks, insurers, pensions and mutual funds. Landlords, often private-equity firms, used that money to purchase skyscrapers,…
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