REITs lower after SL Green cuts dividend
By John Spence
Last update: 12:16 p.m. EST Dec. 29, 2008
Comments: 1
BOSTON (MarketWatch) -- Shares of real estate investment trusts traded lower Monday on fears the sector will continue to face headwinds in 2009. SL Green Realty Corp. (SLG:
sl green rlty corp com
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Last: 25.82-1.40-5.14%
12:37pm 12/29/2008
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SLG 25.82, -1.40, -5.1%) after Friday's closing bell said it was cutting its dividend to conserve cash, and the stock was down 5% in midday trading on Monday. In the REIT sector, Macerich Co. (MAC:
MAC
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MAC, , ) lost 15% at last check, Developers Diversified Realty Corp. (DDR:
DDR
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DDR, , ) shed 10%, General Growth Properties Inc. (GGP:
GGP
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GGP, , ) was off 7% and ProLogis (PLD:
PLD
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PLD, , ) lost 6%. End of Story |
