. . World News – USA – Aimco Completes Housing Income Segregation REIT Corp.. .

The Housing Investment and Management Company (NYSE: AIV) (« Aimco ») announced today that it has completed the separation of its businesses (the « Separation »), the two separate and separate publicly traded companies creates, Apartment Income REIT Corp. . (« AIR ») and Aimco. Aimco will maintain its growing community development and refurbishment business and will make various other value-adding investments in the United States. S.. . Multi-family sector.

The distribution of the AIR common shares began on 15. Closed December 5, 2020 with each registered Aimco holder receiving one share of AIR Class A common stock for every share of Aimco Class A common stock held at close of business on December 5, 2020. December 2020 (the « Recording Date »). Aimco shareholders will receive cash in lieu of fractions of AIR’s Class A common shares.

In connection with the separation, AIMCO-GP, Inc. . , the general partner of AIMCO Properties, L. . P. . (« AIR OP »), the operational partnership of AIR, carried out a prorated distribution of all outstanding limited partnership units of Aimco OP L. P. . (« Aimco OP ») to Holders at the close of business on the Record Date. As a result, Aimco OP is now Aimco’s operational partnership.

Wes Powell, Chief Executive Officer and Director of Aimco, commented, « I would like to thank everyone whose contributions made the separation possible, our shareholders, whose insight has been invaluable, and our teammates and partners who have worked countless hours to put our plans into action. I am thrilled by the exciting opportunities that are opening up for Aimco and I wish my friends at AIR continued success. « 

Citigroup Global Markets Inc. . is serving as lead financial advisor and Skadden, Arps, Slate and Meagher & Flom LLP are serving as legal counsel. J. . P. . Morgan Securities LLC and Morgan Stanley & Co. . LLC also provided financial advisory services to the company in connection with the transaction.

Aimco is a real estate investment trust focused on real estate development, redevelopment and various other value-adding investment strategies, targeting the United States. S multi-family market. Aimco is traded on the New York Stock Exchange as an AIV. For more information on Aimco, please visit our website at www. aimco. com.

This document contains forward-looking statements within the meaning of federal securities laws. Forward-looking statements include all statements that are not statements of historical fact or statements about our intentions, beliefs or expectations, including statements about Aimco’s expected activities after the separation. We caution investors not to place undue reliance on such forward-looking statements.

Words like « anticipate », « expect », « intend », « plan », « believe », « may », « will », « will », « could », « should », « seek » and Similar expressions or the negative of these terms are intended to identify such forward-looking statements. These statements are based on management’s current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from projected, projected or expected results. Although we believe that the assumptions underlying the forward-looking statements are reasonable, we cannot guarantee that our expectations will be met.

Risks and uncertainties that could cause actual results to differ materially from our expectations include, but are not limited to, the impact of the coronavirus pandemic on Aimco’s business and the world and the United States. S.. . Economies in general; Property and operational risks, including fluctuations in property values ​​and the general business climate in the markets in which Aimco operates and competition for residents in those markets; national and local economic conditions, including the pace of employment growth and unemployment; The amount, location and quality of competitive supply of new housing; the timing and effects of acquisitions, disposals, renovations and developments; Changes in operating costs including energy costs; negative economic conditions in our areas of operation; Loss of key personnel; Aimco’s ability to maintain or forecast current occupancy, rental rates, and operating results of the properties; Aimco’s ability to meet budgeted costs and deadlines and, where appropriate, to obtain budgeted rental rates related to refurbishment and development investments; Expectations regarding the sale of residential communities and the use of the proceeds from them; our ability to operate successfully as a separate company from AIR with a narrower focus; Insurance risks, including insurance costs, natural disasters and severe weather such as hurricanes; Funding risks, including the availability and cost of funding; the risk that the cash flow from operating activities will not be sufficient to make the required capital and interest payments; the risk that the result may not be sufficient to maintain compliance with debt clauses, including financial coverage ratios; legal and regulatory risks, including costs associated with pursuing or defending claims and any adverse consequences; the provisions of laws and government regulations that affect us and the interpretation of those laws and regulations; possible environmental obligations, including costs, fines or penalties, that may arise from the need to clean up the contamination of shared apartments currently or previously owned by Aimco; Shareholder activist activities including proxy competition; Aimco’s relationship with AIR and the ability and willingness of AIR and its subsidiaries to perform and / or fulfill their obligations under contractual arrangements entered into with Aimco and its subsidiaries in connection with the separation and their obligations to Aimco indemnify, defend and hold and its affiliates harmless from and against various claims, litigation and liabilities; the ability to obtain some or all of the benefits we expect from the breakup; and such other risks and uncertainties as are described from time to time in Aimco’s filings with the SEC.

Readers should review Aimco’s financial statements and related notes and the « Risk Factors » section in Item 1A of Aimco’s Annual Report on Form 10-K for the year ended December 31, 2019. Fiscal year ending December 31, 2019 and in point 1A of carefully review Aimco’s quarterly reports on Form 10-Q for the December 31, 2019. March 2020, 30. June 2020 and 30. Quarterly periods ending September 2020, as well as the other documents Aimco from time to time files with the SEC. Readers should also carefully read the « Risk Factors » section in the Aimco OP Registration Statement in relation to separation. These documents identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements.

These forward-looking statements reflect management’s judgment at the current time. Aimco does not undertake (and disclaims any obligation) to revise or update these to reflect future events or circumstances.

(Bloomberg) – Oracle Corp. . Co-founder Larry Ellison said he has moved his primary residence to Hawaii and is the youngest Silicon Valley manager to leave the state where they built their fortunes. Ellison, the eleventh richest person in the world, announced the move to his employees on Monday. Recode first reported on the company’s management decision that followed Oracle’s announcement on Friday that it had relocated its headquarters from Redwood City, California to Austin, Texas. « I’ve had a number of inquiries as to whether or not I’m moving to Texas, » Ellison wrote in a memo to Oracle employees. « The answer is no. I moved to the state of Hawaii and will use the power of Zoom to work from the island of Lanai. Mahalo, Larry. 76-year-old Ellison, who according to Bloomberg has a net worth of around $ 75 billion, owns 98% of Lanai, Hawaii’s sixth largest island, which is comprised primarily of Ellison’s luxury hotels and resorts. Ellison is the primary employer of the 3rd. 000 Lanai residents. In addition to his three hotels, he also owns a significant part of the housing stock as well as the main grocery store and the local monthly newspaper. The Oracle chairman is leaving California with other technology leaders and the ultra-rich, with some pointing out the state’s high taxes. Tesla Inc. . CEO Elon Musk, a friend of Ellison’s, said last week that he left California for Texas. Splunk Inc.. . CEO Doug Merritt is also believed to have moved to the Austin area. Oracle, the world’s second largest software company, had called Silicon Valley home since the company was founded in 1977. Although Lanai is such a small island – with only a school and no traffic lights – residents rarely see Ellison in town, though that may change now that he’s officially moved there. « Nobody knows what their schedule is, » said Alberta de Jetley, a longtime resident of the island and founder of Lanai Today, the island’s monthly newspaper, which she sold to Ellison in 2019. « He comes in on his private plane and is here and then he’s gone. Nobody except the people who actually work at the airport knows when they come and go. For more articles like this, please visit us on Bloomberg. comSubscribe now to stay one step ahead with the most trusted business news source. © 2020 Bloomberg L. . P. .

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He sees the first two benefit from a fall in unemployment as the economy picks up again, while the third will rise at the expense of growth stocks. Growth stocks and government bonds will generally lose ground in what JPM sees as a bullish year for the stock market. In addition to Kolanovic’s look at the macro situation, analysts at JPMorgan have also dived into certain stocks. Of particular interest, we pulled in TipRanks data on two stocks that the company predicts will see strong double-digit growth over the next year. And just for contrast, we’ve included one that JPMorgan is supposed to avoid. Dollar Tree (DLTR) First up is Dollar Tree, a major name in the discounter. Dollar Tree operates more than 15. 000 big box stores in the US and Canada, offering a wide variety of products, many of which are priced at $ 1 or less. Branch departments include groceries and snacks, dairy and frozen foods, housewares, household cleaning supplies and toys – in short, all items that customers can find in high-end department stores and retailers, but at a discounted price. The pandemic has affected Dollar Tree less than other retailers, at least in part because of the company’s business model. Offering a one-stop-shop for most households and the lowest possible price during a severe economic downturn helped the company maintain sales and store traffic. This arose from the company’s quarterly results for 2020, which reflected the historical pattern rather than general economic conditions. Yes, first quarter EPS was down and down year over year, but the first quarter is generally the company’s slowest. The results of Q2 and Q3 showed sequential gains – and exceeded forecasts, while increasing over the previous year. Revenues for 2020 were stable, ranging from $ 6. 29 billion Q1 and $ 6. 18 billion in the third quarter. Solid performance and a strong niche in retail support JPM’s analysis of this stock. The analyst Matthew Boss writes: “Over the years we see that DLTR is returning to a double-digit EPS compounder, with the top and bottom line drivers on the core DT banner (incremental with DTPlus rollout) and stabilization on the family dollar -Concept. « To this end, Boss improved its stance on the DLTR of Neutral of Overweight (i. e. Buy) and sets a target price of $ 130, which indicates confidence in a 20. 5% upside potential. (To see Boss’ track record, click here. ) The analyst consensus rating here is a moderate buy based on 17 ratings including 10 buys and 7 holds. Dollar Tree’s shares sell for $ 108 and theirs for $ 121. The average target price of 33 indicates an upward movement of 12% compared to the current level. (See DLTR stock analysis on TipRanks. ) Mohawk Industries (MHK) As a source of employment and as an indicator of underlying economic health, few industries receive as much attention as housing. And that brings us to Mohawk, a housing contractor who specializes in residential and commercial floors. The company employs over 37 people worldwide. 000 employees and has offices in North and South America, South Asia and Australia. Mohawk’s performance – in terms of financial results and stock appreciation – has tracked the pandemic throughout the year. Sales declined in 1H20 and bottomed in the second quarter but rose again in the third quarter. The top line of the third quarter at $ 2. 57 billion, the highest in 2020. Earnings followed the same pattern, rising from a low in the second quarter to earnings per share of $ 3. 26 in the third quarter, the highest figure in more than 2 years. JPM analyst Michael Rehaut is impressed with Mohawk’s recent performance, which is enough to improve his stance on the stock. He has shifted his assessment from neutral to overweight (i. e. Buy) and set a target price of $ 157, which indicates an upward trend of 18% for a year. (To see Rehaut’s track record, click here. ) “After nearly three years of relative underperformance, we believe that both the sell side and the buy side are overly conservative in assessing MHK’s earnings growth outlook for the next 1-2 years. At this point, we’re listing our 2021E earnings per share of $ 10. 60 is way above the street’s $ 9. 87 as well as even more bullish buy side expectations, which we believe are around $ 10. 00 based on our conversations with investors, ”remarked Rehaut. Overall, Wall Street remains cautious on Mohawk stocks, as the Hold consensus rating shows. This is based on 6 buys, 4 holds and 4 sells. The stock costs $ 132. 60 and the average target price of $ 116. 15 indicates a possible disadvantage of FIG. 50% for the coming year. (See MHK stock analysis on TipRanks. ) Northern Trust (NTRS) Last and Least is Northern Trust, a financial services company that caters not only to institutional investors and companies but also to people with very high wealth. Northern Trust, based in Chicago, is offering $ 1. 3 trillion in assets under management and another $ 10. 1 trillion assets under custody. The company has a market cap of ~ $ 19 billion and bank assets of $ 152 billion. With all of this, Northern Trust has had a tough time in the past few months. The company missed estimates in its third quarter results with earnings per share of $ 1. 32 fall 9. 5% in a row, over 21% year-on-year, and the forecast was missed by more than 5%. Sales decreased in the top line 2. 2% from the second quarter to $ 1. 3 billion in the third quarter. On the positive side, Northern Trust maintained its dividend payment throughout this pandemic year. The company pays 70 cents per common share and has consistently done so for the past five quarters. The next payment is due in early 2021. Annualized to $ 2. 80 per share results in a dividend yield of over 3%, an attractive value these days with interest rates close to zero. Vivek Juneja, one of JPM’s 5-star analysts, sees the negatives outweighing the positives of Northern Trust. Accordingly, the analyst downgraded his position in the stock to underweight (i. e. To sell). Its price target of $ 90 indicates a downward move of nearly 6% from current levels. (To see Juneja’s track record, click here. ) Juneja bases its bearish stance on several key points including: « 1) The [Northern Trust] P / E premium for bank colleagues is nearly two standard deviations above the long-term median premium. Despite sharply narrowing sales growth compared to peers: 2) Northern is more prone to money market fund outflows than peers – its disclosed institutional asset management money market fund, AUM, declined faster in the fourth quarter, down 7%. 3) Northern Has Been Very Strong Little institutional money market fee exemptions so far, but they will likely increase. . . « All in all, the current market view of NTRS is mixed, indicating uncertainty about its outlook. The stock has a hold analyst consensus rating with only 2 current buy ratings. This is against 3 holds and 3 sells. However, those are $ 96. The price target of 38 indicates an upside potential of almost 8% compared to the current share price. (See NTRS stock analysis on TipRanks. ) To find great ideas for trading stocks at attractive valuations, visit TipRanks ‘Best Stocks to Buy, a newly launched tool that brings together all of TipRanks’ stock insights. Disclaimer: The opinions expressed in this article are solely those of the presented analysts. The content is intended to be used for informational purposes only. It is very important that you do your own analysis before making any investment.

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Wall Street is set to lose its last bank after Deutsche Bank announced plans to move its Manhattan office. The German lender will move from 60 Wall Street to a cheaper building on Columbus Circle near Central Park. The bank is also considering part of its 4th. 600 New York-based employees to relocate to other US cities. The announcement is the latest example of a flexible workspace in the financial sector. However, it also signals the end of Wall Street as a banking center, as the German was the last major bank to keep an office in Manhattan’s financial district. Over the past two decades, there has been an exodus of banks from the eight-block street, with financial firms being tempted by other areas like Midtown, which are better connected for commuters and closer to private equity clients. « As soon as everything is fine-tuned, the difference between Brooklyn and Florida isn’t as big as we’re discovering, » said Lawrence White, professor at New York University’s Stern School of Business. Banks have been liberated by technology so they can put more emphasis on transportation links or the cost of office space, he added. « As telecommunications have gotten better and face-to-face contact has become less important, we have seen this diversification of financial companies. « 

Apartment Inv & Mgmt, NYSE: AIV, Real Estate Investment Trust, Stock