Asset manager Blue Owl expands into real estate financing with $170 mln deal [Reuters]
New York Community Bancorp, Inc. (NYCB)
Last new york community bancorp, inc. earnings: 4/29 07:00 am
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Source: Reuters
, opens new tab said on Tuesday it will buy Prima Capital Advisors for $170 million to expand into real estate financing, a market that traditional banks have been retreating from since last year. Investment firms, which are not subjected to harsh regulations as banks, have been rushing to grab a bigger slice of the commercial real estate (CRE) market as traditional lenders are backing out on fears of increasing borrower defaults due to low occupancy and high interest rates. Investors have punished those with a high footprint in the CRE market, such as New York Community Bancorp (NYCB.N) New Tab , opens new tab , prompting lenders to evaluate options to cut their exposure to the industry. "There is a growing lack of capital availability in real estate today," Blue Owl co-CEOs Doug Ostrover and Marc Lipschultz said in a statement. The Prima deal is expected to close in the second or third quarter of 2024 and will be financed with $157 million of equity and $13 million in cas
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News
- New York Community Bancorp: The Preferred Stock Looks Like A Good Bet After Q4 Earnings [Seeking Alpha]Seeking Alpha
- New York Community (NYCB) Reports Loss in Q1, Cuts Dividend [Yahoo! Finance]Yahoo! Finance
- NEW YORK COMMUNITY BANCORP, INC. DECLARES QUARTERLY CASH DIVIDENDS ON ITS COMMON STOCK AND PREFERRED STOCKS [Yahoo! Finance]Yahoo! Finance
- NEW YORK COMMUNITY BANCORP, INC. DECLARES QUARTERLY CASH DIVIDENDS ON ITS COMMON STOCK AND PREFERRED STOCKSPR Newswire
- New York Community Bancorp, Inc. (NYSE: NYCB) was upgraded by analysts at Wedbush from an "underperform" rating to a "neutral" rating. They now have a $3.50 price target on the stock, up previously from $3.00.MarketBeat
NYCB
Earnings
- 5/1/24 - Miss
NYCB
Sec Filings
- 5/1/24 - Form 8-K
- 5/1/24 - Form 144
- 5/1/24 - Form 8-K
- NYCB's page on the SEC website