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Sunday, 26 December 1999

First Union Trims AvalonBay 2000 FFO Estimate Due To Dilution

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December 27, 1999

(NewsTraders.com) -- First Union Securities has lowered its 2000 earnings estimate for AvalonBay Communities (NYSE:AVB) due to continued dilution as the impact from asset sales is greater than expected.

Accordingly, the brokerage firm is modifying its 2000 per-share funds from operations, or FFO, estimate down to $3.59 from $3.62.

Still, First Union continues to expect the company to post double-digit FFO growth, at or near the top of its peer group.

In addition, the brokerage firm reiterated its "strong buy" rating on the stock, along with a 12-month price target of $41.



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“The Weekly” is Commercial Real Estate Direct’s PDF newsletter, sent to subscribers every Friday morning. With over 100 news stories published on Commercial Real Estate Direct each week, “The Weekly” features the top stories in commercial real estate that industry participants need to know first. “The Weekly” also contains:

  • Breaking mortgage, CMBS, and REIT news

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Additional Info

  • Syndicate to Realpoint: No
  • Subject: Earnings/Dividends (EARN)
  • Company: Bank of America Corp.
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Data Digest

 

CMBS DELINQUENCY VOLUME

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CMBS SPECIAL SERVICING VOLUME

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Top Bookrunners Domestic, Private-Label CMBS - 2017
Investment Bank #Deals Vol$mln MktShr%
Goldman Sachs 17.59 11,819.34 13.68
JPMorgan Securities 14.52 10,968.11 12.70
Citigroup 12.04 10,012.71 11.59
Wells Fargo Securities 14.02 9,936.06 11.50
Deutsche Bank 12.55 9,879.74 11.44

 

RCA CPPI

 

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CMBS 2.0 Spreads

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Top CMBS Loan Contributors - 2017
Lender #Loans Vol$mln MktShr%
Goldman Sachs 146.89 11,719.34 13.63
JPMorgan Chase Bank 117.68 10,114.14 11.76
Deutsche Bank 198.48 9,689.97 11.27
Morgan Stanley 166.18 8,539.78 9.93
Citigroup 199.05 8,088.24 9.41

 

 

 

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