SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Pastimes : Clown-Free Zone... sorry, no clowns allowed
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
From: ldo793/5/2008 9:52:30 AM
   of 436258
 
REIT Downgrades
March 5, 2008
AP

NEW YORK — Problems in the credit markets seem to be intensifying and may be too big for a Federal Reserve rate cut to fix, an analyst said Wednesday in downgrading several real estate specialty finance companies.

Citi Investment Research analyst Donald Fandetti said the U.S. economy may be heading into a recession, which would heighten credit deterioration even in previously strong sectors such as corporate and commercial real estate.

"While we expect aggressive Fed rate cuts to reduce some of the market risk, the broad credit overhang may be too big for the Fed to solve in the short-term," Fandetti said in a note to clients.

Fandetti downgraded the following stocks to "Hold" from "Buy" on Wednesday: iStar Financial Inc.; Gramercy Capital Corp.; CapitalSource Inc.; KKR Financial Holdings LLC; and NewStar Financial Inc.

Ratings on the following stocks were moved to "Sell" from "Hold" by Fandetti: Arbor Realty Trust Inc.; Newcastle Investment Corp.; CBRE Realty Finance Inc.; and Resource Capital Corp.

Fandetti reiterated his "Sell" rating on Thornburg Mortgage Inc.

The only real potential catalyst for a quick rebound is a "broad recovery in the credit markets, on the back of aggressive governmental action in the residential market," he said.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News