Latest news with #commercialproperties
South China Morning Post
a day ago
- Business
- South China Morning Post
China's Seazen markets first dollar-bond offering by a private builder since 2023
Seazen Group, one of the few major private-sector Chinese developers yet to default, started marketing a dollar bond that would be the first of its kind in more than two years. Once ranked among China's top 10 developers by contracted sales, the company set the initial price target for the three-year notes at 13.25 per cent, a person familiar with the matter said. If the issuance were successfully priced, Seazen would be the first privately owned local builder to tap the publicly syndicated US-currency bond market since early 2023. The securities can be called and put after two years. There has been a drought of dollar bond issuance by Chinese developers since the country became mired in a years-long real estate crisis, suppressing appetite for such debt. Dalian Wanda Group's property-management arm was the last major privately held property firm to sell dollar bonds, pricing two such notes in early 2023. Seazen has managed to withstand the headwinds in the sector and still operates an extensive line of shopping centres in smaller cities. Last year, rental income from commercial properties grew 13 per cent. It has also benefited from measures introduced by the government to broaden access to some commercial loans, putting up some of its properties as collateral to generate fresh funding. The new bond offered a slight premium over the company's existing 4.5 per cent note due in May 2026, which currently yielded 12.9 per cent, according to Bloomberg Intelligence analysts Daniel Fan and Hui Yen Tay. 'If printed, we expect this to attract more investors, both regional and global, to return to China high-yield dollar bonds,' said Zerlina Zeng, the head of Asian strategy at Creditsights Singapore. Seazen's liquidity was better than most high-yield Chinese developers, so it could probably obtain cheaper funding onshore by pledging its commercial real estate assets, she added.
Globe and Mail
19-05-2025
- Business
- Globe and Mail
SL Green Realty Corp. Announces Common Stock Dividend
NEW YORK, May 19, 2025 (GLOBE NEWSWIRE) -- SL Green Realty Corp. (NYSE:SLG), Manhattan's largest office landlord, today announced that its board of directors has declared a monthly ordinary dividend of $0.2575 per share of common stock, which is the equivalent of an annualized dividend of $3.09 per share. The dividend is payable in cash on June 16, 2025 to shareholders of record at the close of business on May 30, 2025. About SL Green Realty Corp. SL Green Realty Corp., Manhattan's largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing the value of Manhattan commercial properties. As of March 31, 2025, SL Green held interests in 55 buildings totaling 30.8 million square feet. This included ownership interests in 27.2 million square feet of Manhattan buildings and 2.8 million square feet securing debt and preferred equity investments. Forward Looking Statement This press release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and are intended to be covered by the safe harbor provisions thereof. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future, including such matters as future capital expenditures, dividends and acquisitions (including the amount and nature thereof), development trends of the real estate industry and the New York metropolitan area markets, occupancy, business strategies, expansion and growth of our operations and other similar matters, are forward-looking statements. These forward-looking statements are based on certain assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions, expected future developments and other factors we believe are appropriate. Forward-looking statements are not guarantees of future performance and actual results or developments may differ materially, and we caution you not to place undue reliance on such statements. Forward-looking statements are generally identifiable by the use of the words "may," "will," "should," "expect," "anticipate," "estimate," "believe," "intend," "project," "continue," or the negative of these words, or other similar words or terms. Forward-looking statements contained in this press release are subject to a number of risks and uncertainties, many of which are beyond our control, that may cause our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by forward-looking statements made by us. Factors and risks to our business that could cause actual results to differ from those contained in the forward-looking statements include risks and uncertainties described in our filings with the Securities and Exchange Commission. Except to the extent required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of future events, new information or otherwise.
Yahoo
18-05-2025
- Business
- Yahoo
This Stock Is Up Over 8,400% Since Its IPO. Here's Why It's Still a Buy.
This real estate investment trust leases single-tenant properties to well-known businesses. Its monthly dividend offers income investors a high rate of return. The company's steady expansion is on track to continue for decades. 10 stocks we like better than Realty Income › Real estate investment trusts (REITs) do not typically deliver the level of excitement or returns reminiscent of some tech growth stocks. Instead, they usually focus on offering a steady stream of dividends to attract investors seeking income or wealth preservation. That is also the case with Realty Income (NYSE: O), though investors should also take note of its growth potential. Thanks to steadily rising stock prices and dividends, investors who bought at the 1994 IPO have earned total returns exceeding 8,400% when including payouts. When considering the business conditions under which it operates and its position in the market, the stock remains a buy despite those gains. Realty Income specializes in single-tenant commercial properties. It has acquired more than 15,600 buildings, which it rents to tenants through a net leasing arrangement. This steadies cash flows since the tenants pay for maintenance, insurance, and property taxes on its buildings. Moreover, its tenant list is a who's who of customer-facing companies. Home Depot, Dollar Tree, FedEx, and Wynn Resorts are among its clients, reinforcing the company's stability. Additionally, Realty Income has grown steadily under a variety of conditions. As previously mentioned, stock gains and dividends have driven massive gains over the stock's 31-year history. Even with those gains, it is down about 25% from its pre-pandemic peak as higher interest rates have stoked fear about the stock. Despite those concerns, the company's growth could continue for decades. For now, Realty Income operates in the U.S. and seven European countries, but it has barely scratched the surface of how much it can grow. The company estimates the global addressable market at $14 trillion. Still, after more than 56 years of existence, its revenue is only a tiny sliver of that potential, coming in at $5.28 billion over the trailing 12 months. Knowing that, it is little wonder that Realty Income has continued to develop new properties and buy out peers. Among its purchases last year was the acquisition of Spirit Realty, which added more than 2,000 additional properties. Furthermore, interest rates are higher than many investors would like. However, with occupancy at 98.5%, Realty Income's expansion will likely continue even without a significant drop in interest rates. High interest rates have also not stopped its dividend growth. The stock has billed itself as "The Monthly Dividend Company," distributing cash to shareholders every month since 1994, with the payout rising at least once per year since the beginning. With that, investors now earn more than $3.22 per share in annual payouts. That amounts to a dividend yield of 5.8%, more than quadruple the S&P 500's average yield of around 1.3%. Additionally, its funds from operations (FFO) income for the 12 months ending in the first quarter of 2025 was $4.22. That was well above the company's dividend obligations, making it likely the payout increases will continue. Such conditions have allowed Realty Income to increase its payout twice so far in 2025, and as long as business conditions remain relatively stable, the company's dividend should continue to rise. Despite massive gains, Realty Income's growth story is unlikely to end anytime soon. Indeed, higher interest rates are a negative for REITs like Realty Income, and its stock performance during the 2020s has likely disappointed bulls and growth investors. Nonetheless, Realty Income has continued its growth despite higher rates, and the company's addressable market makes it likely that Realty Income's expansion will continue for decades to come. Moreover, its massive dividend is generous, stable, and likely to continue increasing. Thus, if investors are looking for a high cash return and the potential for eventual appreciation, they will likely succeed with Realty Income stock. Before you buy stock in Realty Income, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Realty Income wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $642,582!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $829,879!* Now, it's worth noting Stock Advisor's total average return is 975% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 12, 2025 Will Healy has positions in Realty Income. The Motley Fool has positions in and recommends FedEx, Home Depot, and Realty Income. The Motley Fool has a disclosure policy. This Stock Is Up Over 8,400% Since Its IPO. Here's Why It's Still a Buy. was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CTV News
15-05-2025
- Business
- CTV News
Timmins approves 2025 budget with 4.48% tax levy increase
Timmins property taxes rise 4.5%, adding $13/month for a $193K home & $348/year for median commercial properties after council approval.
CTV News
15-05-2025
- Business
- CTV News
Timmins approves 4.5% property tax hike
Northern Ontario Watch Timmins property owners face a 4.5% tax hike, adding $13 monthly for a $193K home and $348 yearly for median commercial properties, after council approved the new rate.
