The boom in launching diversified mortgage REITs during the mid-2000s has officially busted. Hypo Real Estate Bank International AG is folding its US commercial mREIT, Quadra Realty Trust (QRR), back into its portfolio less than 12 months after Quadra's February 2007 IPO.
We think inflation is on the rise, a sense confirmed by another new all-time high in the Goldman Sachs Commodity Index last week. We also think that barring a severe economic slowdown, higher inflation implies higher interest rates. While both of these possibilities suggest some headwinds for the stock market, as often repeated in these missives we don?t see signs of a ?top? despite our lingering worries about optimistic valuations. In fact, on...
So far the equity markets have ignored the "rate ratchet," causing one frustrated Wall Street wag to lament, "Hey Jeff, I am afraid of this market because it is overvalued, over-extended and overdue for a correction, yet I have to play the long side since my performance has to keep up with 'the Jones,' the Dow Jones that is, so what am I to do?!" As stated in...
Abbi Adest submits:It's a slow week for IPOs. The three companies going public this week are: Opnext (OPXT), which manufactures optical components for the telecom industry; Quadra Realty Trust (QRR), a new REIT managed by the Hypo Real Estate Capital Corporation; Salary.com (SLRY), a company that provides corporate payroll software.
All quotations are from the companies' most recent S-1 filings with links provided for each company.
NEW YORK (MarketWatch) -- Networking-technology maker Opnext turned in a double-digit percentage gain in its $253 million initial public offering Thursday as the richest IPO of the week.
NEW YORK (MarketWatch) -- Quadra Realty Trust priced 16.67 million shares at $15 a share in a bid to raise $250 million in its initial public offering on Thursday. The real estate firm priced at the bottom of its $15-$17 range.
NEW YORK (MarketWatch) -- Opnext Inc. and Quadra Realty mark the richest of four initial public offerings on deck Thursday in a busy day for new issues.
NEW YORK (MarketWatch) -- Quadra Realty Trust, a New York-based real estate investment trust, on Thursday set an estimated price range of $15-$17 a share in its upcoming initial public offering. The company will offer 16.67 million shares in a bid to raise about $267 million with underwriters Credit Suisse , Wachovia Securities, A.G. Edwards, KeyBanc Capital Markets, Stifel Nicolaus. Quadra Realty Trust plans to trade on the New York Stock Exchange under the symbol QRR. The REIT is managed by the U.S. subsidiary of Hypo Real Estate Bank International AG, or Hypo International, which is a member of the...
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Excerpt from Raymond James strategist 
Excerpt from Raymond James strategist 
