1 day ago
This story was originally published on CRE Daily. Join 70,000+ commercial real estate professionals getting daily news, market insights, and industry **** ysis delivered straight to their inbox with the free CRE Daily newsletter.
LA County commercial property sales reached $2.1B across roughly 7.25M SF in July, a 28.5% jump in dollar volume from July 2025.
Multifamily accounted for $1.22B, or 58% of the month's total, with average pricing up 28.7% to $376 PSF.
Office was the only major property type to fall in both dollar volume and square footage, with pricing down 23.5% to $250 PSF.
According to the Commercial Observer, commercial real estate investment sales accelerated across Los Angeles County in July. Roughly 7.25M SF of commercial property traded for $2.1B, NAI Capital reported Thursday, citing CoStar data. Multifamily accounted for the majority of capital deployed.
#commercial #multifamily #roughly #real
LA County commercial property sales reached $2.1B across roughly 7.25M SF in July, a 28.5% jump in dollar volume from July 2025.
Multifamily accounted for $1.22B, or 58% of the month's total, with average pricing up 28.7% to $376 PSF.
Office was the only major property type to fall in both dollar volume and square footage, with pricing down 23.5% to $250 PSF.
According to the Commercial Observer, commercial real estate investment sales accelerated across Los Angeles County in July. Roughly 7.25M SF of commercial property traded for $2.1B, NAI Capital reported Thursday, citing CoStar data. Multifamily accounted for the majority of capital deployed.
#commercial #multifamily #roughly #real
3 days ago
Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below.
Florida real estate mogul Todd Nepola has spent nearly three decades making money from shopping centers. If he had to start over with $100,000, he says he would put it straight back into income-producing property.
"I'd go right into a commercial property," Nepola said in a recent interview with Hard Truths CEO, a popular TikTok account (1). "The truth is, multifamily's the easiest one to get into."
Jeff Bezos backs a platform that lets anyone invest in rental homes for as little as $100 — 6 ways to build wealth like a landlord without actually being one
JPMorgan sees gold hitting $5,000/oz by Q4 — and savvy investors are protecting their wealth with a tax-advantaged Gold IRA. Get your free guide from Priority Gold
#property #finance #Florida #hard
Florida real estate mogul Todd Nepola has spent nearly three decades making money from shopping centers. If he had to start over with $100,000, he says he would put it straight back into income-producing property.
"I'd go right into a commercial property," Nepola said in a recent interview with Hard Truths CEO, a popular TikTok account (1). "The truth is, multifamily's the easiest one to get into."
Jeff Bezos backs a platform that lets anyone invest in rental homes for as little as $100 — 6 ways to build wealth like a landlord without actually being one
JPMorgan sees gold hitting $5,000/oz by Q4 — and savvy investors are protecting their wealth with a tax-advantaged Gold IRA. Get your free guide from Priority Gold
#property #finance #Florida #hard
10 days ago
Zillow Group (NASDAQ:Z) delivered a second quarter that beat its own outlook on nearly every line, then turned around and eliminated jobs and reshuffled its leadership team. On the call held August 5, CEO Jeremy Wacksman and newly expanded COO and CFO Jeremy Hofmann laid out a business growing far faster than the housing market around it, alongside a restructuring meant to fund that growth. The two stories sitting side by side are worth pulling apart.
Q2 revenue rose 18% year-over-year to $772 million, ahead of the high end of guidance, while EBITDA hit $176 million for a 23% margin. For Sale revenue climbed 14% to $549 million even though the purchase mortgage market was flat, and mortgages revenue jumped 75% to $84 million as purchase loan origination volume nearly doubled. Rentals revenue grew 31% to $209 million, powered by 42% growth in multifamily and a record 79,000 multifamily properties on the platform, up 23% from a year earlier.
Management is also leaning into AI Mode, now live for about 20% of signed-in users, where engaged consumers spend more than three times as long on the site and contact an agent at nearly three times the rate of everyone else. Zillow Home Loans has become a top-25 purchase lender nationally, and the shift toward its "preferred" agent model generated 23% more revenue per connection in 2025, with management targeting 35% by the end of 2026. The company backed that confidence with $200 million in buybacks during the quarter and $826 million year-to-date.
The other side of the ledger is messier. A day before the call, Zillow eliminated roughly 7% of its workforce, booking $36 million in restructuring costs in the quarter with another $23 million to $28 million expected in the third quarter. Chief Operating Officer Jun Choo is stepping down to focus on his health, replaced in an expanded role by Hofmann. Despite the adjusted net income of $118 million, Zillow posted a GAAP net loss of $4 million.
Management also revised its view of the purchase mortgage market lower, now expecting originations down low to mid single digits rather than flat, citing rates that have risen since their lows earlier in the year. The accounting mechanics of the preferred transition are adding real drag too: residential revenue is expected to be flat in the third quarter and only in line with a shrinking mortgage industry in the fourth, as 600 to 800 basis points of revenue shifts from residential into mortgages and seasonality adds another 200 to 300 basis points of headwind in Q4.
#market
Q2 revenue rose 18% year-over-year to $772 million, ahead of the high end of guidance, while EBITDA hit $176 million for a 23% margin. For Sale revenue climbed 14% to $549 million even though the purchase mortgage market was flat, and mortgages revenue jumped 75% to $84 million as purchase loan origination volume nearly doubled. Rentals revenue grew 31% to $209 million, powered by 42% growth in multifamily and a record 79,000 multifamily properties on the platform, up 23% from a year earlier.
Management is also leaning into AI Mode, now live for about 20% of signed-in users, where engaged consumers spend more than three times as long on the site and contact an agent at nearly three times the rate of everyone else. Zillow Home Loans has become a top-25 purchase lender nationally, and the shift toward its "preferred" agent model generated 23% more revenue per connection in 2025, with management targeting 35% by the end of 2026. The company backed that confidence with $200 million in buybacks during the quarter and $826 million year-to-date.
The other side of the ledger is messier. A day before the call, Zillow eliminated roughly 7% of its workforce, booking $36 million in restructuring costs in the quarter with another $23 million to $28 million expected in the third quarter. Chief Operating Officer Jun Choo is stepping down to focus on his health, replaced in an expanded role by Hofmann. Despite the adjusted net income of $118 million, Zillow posted a GAAP net loss of $4 million.
Management also revised its view of the purchase mortgage market lower, now expecting originations down low to mid single digits rather than flat, citing rates that have risen since their lows earlier in the year. The accounting mechanics of the preferred transition are adding real drag too: residential revenue is expected to be flat in the third quarter and only in line with a shrinking mortgage industry in the fourth, as 600 to 800 basis points of revenue shifts from residential into mortgages and seasonality adds another 200 to 300 basis points of headwind in Q4.
#market
10 days ago
Valued at $10.9 billion by market cap, Camden Property Trust (CPT) is a Houston-based multifamily real estate investment trust (REIT) focused on owning, managing, developing, redeveloping, acquiring, and repositioning apartment communities across the U.S. Its strategy is centered on high-growth markets with strong employment, population growth, and quality-of-life characteristics, which Camden believes support demand for rental housing and resident retention.
Camden Property Trust has struggled to generate meaningful momentum over the past year. CPT has surged 3.4% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 20.2%. In 2026, CPT stock is down 1.5%, compared to the SPX's 13.2% rise on a YTD basis.
A $20 Billion Reason Why Intel Stock Is in Focus
Marvell Technology (MRVL) Stock Might Offer a Quick Bounce Before Earnings
Most ****** ysts Still Aren't Bullish on Tesla Stock, Even After Recent Selloff. Here's Why.
#property #billion #index
Camden Property Trust has struggled to generate meaningful momentum over the past year. CPT has surged 3.4% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 20.2%. In 2026, CPT stock is down 1.5%, compared to the SPX's 13.2% rise on a YTD basis.
A $20 Billion Reason Why Intel Stock Is in Focus
Marvell Technology (MRVL) Stock Might Offer a Quick Bounce Before Earnings
Most ****** ysts Still Aren't Bullish on Tesla Stock, Even After Recent Selloff. Here's Why.
#property #billion #index
13 days ago
Indianapolis Colts star Sauce Gardner has filed a lawsuit against a Michigan construction company—claiming that the business failed to carry out renovations to a $935,000 abandoned apartment building in Detroit, despite receiving a $500,000 deposit to secure its services.
The NFL athlete—whose real name is Ahmad Gardner—claims that he was lured into buying the property under false pretenses, and is asking that the Michigan-based Sanborn Construction company be forced to return his deposit and pay him additional damages.
In the lawsuit, which was first reported by TMZ, the 24-year-old cornerback states that he first met the company's CEO, Nicholas Sanborn, on social media, where they struck up a conversation about real estate, which led to a discussion about a disused apartment building in the New Center neighborhood of Motor City.
Gardner, who was born in Detroit, says he became particularly interested in the property after Sanborn told him that an adjacent building was also on the market—a detail that the NFL star claims he later discovered was untrue. He adds that he agreed to invest in the multifamily property under the ****** umption that Sanborn Construction would handle the renovation of the abandoned structure.
Records show that the athlete closed on the property, which was previously known as Bonita Apartments and features 44 vacant units, on May 11, with the final sale price listed as $935,000. Prior to Gardner's purchase, the building had been listed for just under $1.2 million.
#sanborn
The NFL athlete—whose real name is Ahmad Gardner—claims that he was lured into buying the property under false pretenses, and is asking that the Michigan-based Sanborn Construction company be forced to return his deposit and pay him additional damages.
In the lawsuit, which was first reported by TMZ, the 24-year-old cornerback states that he first met the company's CEO, Nicholas Sanborn, on social media, where they struck up a conversation about real estate, which led to a discussion about a disused apartment building in the New Center neighborhood of Motor City.
Gardner, who was born in Detroit, says he became particularly interested in the property after Sanborn told him that an adjacent building was also on the market—a detail that the NFL star claims he later discovered was untrue. He adds that he agreed to invest in the multifamily property under the ****** umption that Sanborn Construction would handle the renovation of the abandoned structure.
Records show that the athlete closed on the property, which was previously known as Bonita Apartments and features 44 vacant units, on May 11, with the final sale price listed as $935,000. Prior to Gardner's purchase, the building had been listed for just under $1.2 million.
#sanborn
18 days ago
This story was originally published on Multifamily Dive. To receive daily news and insights, subscribe to our free daily Multifamily Dive newsletter.
The second half of July brought news that several apartment properties moved into special servicing, while others had their values reduced.
Once again, Texas was at the epicenter of these transfers, though one property in Brooklyn, New York, is also facing challenges, according to a flurry of Morningstar reports.
Two Keener Investments properties in League City, Texas — Harbor Walk and The Shore — were transferred to special servicing after the Houston-based owner stated that it "could no longer come out of pocket for debt service and escrow shortages," according to a July 31 Morningstar report.
The properties are still listed on Keener's website. It did not reply to a request for comment from Multifamily Dive.
#july #texas #servicing
The second half of July brought news that several apartment properties moved into special servicing, while others had their values reduced.
Once again, Texas was at the epicenter of these transfers, though one property in Brooklyn, New York, is also facing challenges, according to a flurry of Morningstar reports.
Two Keener Investments properties in League City, Texas — Harbor Walk and The Shore — were transferred to special servicing after the Houston-based owner stated that it "could no longer come out of pocket for debt service and escrow shortages," according to a July 31 Morningstar report.
The properties are still listed on Keener's website. It did not reply to a request for comment from Multifamily Dive.
#july #texas #servicing
19 days ago
Interested in Keller Group plc? Here are five stocks we like better.
Keller delivered record first-half 2026 results, with constant-currency revenue up 11%, underlying operating profit up 17.1% and margins improving to 7.3%. Management remains confident of meeting its upgraded full-year expectations and achieving a fourth consecutive record year.
North America was the main growth engine, with revenue up 16.7% and operating profit up 17.7%, driven by data-center foundations and major infrastructure projects including the I-40 highway remediation. Data centers rose to 9% of group revenue, while weaker multifamily residential activity remained a headwind.
Cash generation supported a 57% increase in the interim dividend and ongoing share buybacks, while management expects to end the year with approximately £30 million of net cash. EMEA profit rose despite lower revenue, whereas APAC revenue grew strongly but profit was broadly flat due to pricing and weather pressures.
Keller Group (LON:KLR) reported record first-half results for 2026, with revenue and underlying operating profit rising as strong demand for data centers and infrastructure work in North America offset weaker conditions in some residential and European markets.
#revenue #record #operating #north
Keller delivered record first-half 2026 results, with constant-currency revenue up 11%, underlying operating profit up 17.1% and margins improving to 7.3%. Management remains confident of meeting its upgraded full-year expectations and achieving a fourth consecutive record year.
North America was the main growth engine, with revenue up 16.7% and operating profit up 17.7%, driven by data-center foundations and major infrastructure projects including the I-40 highway remediation. Data centers rose to 9% of group revenue, while weaker multifamily residential activity remained a headwind.
Cash generation supported a 57% increase in the interim dividend and ongoing share buybacks, while management expects to end the year with approximately £30 million of net cash. EMEA profit rose despite lower revenue, whereas APAC revenue grew strongly but profit was broadly flat due to pricing and weather pressures.
Keller Group (LON:KLR) reported record first-half results for 2026, with revenue and underlying operating profit rising as strong demand for data centers and infrastructure work in North America offset weaker conditions in some residential and European markets.
#revenue #record #operating #north
23 days ago
This story was originally published on CRE Daily. Join 70,000+ commercial real estate professionals getting daily news, market insights, and industry **** ysis delivered straight to their inbox with the free CRE Daily newsletter.
Texas multifamily deliveries are hitting multi-year lows, while investment activity recovers as buyers move ahead of underlying rent growth.
Houston and DFW see double-digit jumps in sales volume, with mid-market **** ets (50–300 units, 1980–2018 vintage) trading actively as developers pull back.
Owners must weigh readiness over timing, with capital markets active but rent softness and looming debt maturities keeping risk in play.
According to Hudson Multifamily Group's Mid-Year 2026 Texas Multifamily Briefing, Texas apartments are moving beyond peak supply pressure. The market now enters the early stages of rent recovery. Construction has slowed sharply across the state. Houston expects just 3,000 completions, its lowest level since 2013. San Antonio has reached its slowest pace since 2011.
#daily #year #join
Texas multifamily deliveries are hitting multi-year lows, while investment activity recovers as buyers move ahead of underlying rent growth.
Houston and DFW see double-digit jumps in sales volume, with mid-market **** ets (50–300 units, 1980–2018 vintage) trading actively as developers pull back.
Owners must weigh readiness over timing, with capital markets active but rent softness and looming debt maturities keeping risk in play.
According to Hudson Multifamily Group's Mid-Year 2026 Texas Multifamily Briefing, Texas apartments are moving beyond peak supply pressure. The market now enters the early stages of rent recovery. Construction has slowed sharply across the state. Houston expects just 3,000 completions, its lowest level since 2013. San Antonio has reached its slowest pace since 2011.
#daily #year #join
25 days ago
This story was originally published on Banking Dive. To receive daily news and insights, subscribe to our free daily Banking Dive newsletter.
Los Angeles-based Banc of California reported an unexpected $251.3 million loss Wednesday among its second-quarter results.
The loss comes at the confluence of three moves the bank defended as better for its long-term health.
The bank initiated the sale of $827 million in commercial real estate and multifamily construction loans. That maneuver was meant to "reduce selected credit exposures and lower the potential for future credit-related earnings volatility," Banc of California said. Transactions of loans transferred to held-for-sale during the second quarter should close in the third, the bank said. Buyers were not disclosed.
Banc of California also retired $385 million in subordinated debt ahead of "a significantly higher interest rate reset," the lender disclosed Wednesday.
#banc #california #loss #second
Los Angeles-based Banc of California reported an unexpected $251.3 million loss Wednesday among its second-quarter results.
The loss comes at the confluence of three moves the bank defended as better for its long-term health.
The bank initiated the sale of $827 million in commercial real estate and multifamily construction loans. That maneuver was meant to "reduce selected credit exposures and lower the potential for future credit-related earnings volatility," Banc of California said. Transactions of loans transferred to held-for-sale during the second quarter should close in the third, the bank said. Buyers were not disclosed.
Banc of California also retired $385 million in subordinated debt ahead of "a significantly higher interest rate reset," the lender disclosed Wednesday.
#banc #california #loss #second
25 days ago
Our ******* ysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here.
Performance momentum from the first quarter sustained through Q2, driven by organic growth and capitalizing on competitor disruption across key markets.
Management attributed the 36% year-over-year increase in adjusted EPS to improved efficiency and a focus on high-quality core banking relationships.
Loan production accelerated during the quarter but faced significant headwinds from elevated payoffs, particularly within the commercial real estate, multifamily, and office sectors.
Strategic hiring remains a primary growth lever, with 18 revenue-producing hires in Q1 and an additional 12 added through early Q3 to capture market share from consolidating competitors.
#quarter #year #management #analysts
Performance momentum from the first quarter sustained through Q2, driven by organic growth and capitalizing on competitor disruption across key markets.
Management attributed the 36% year-over-year increase in adjusted EPS to improved efficiency and a focus on high-quality core banking relationships.
Loan production accelerated during the quarter but faced significant headwinds from elevated payoffs, particularly within the commercial real estate, multifamily, and office sectors.
Strategic hiring remains a primary growth lever, with 18 revenue-producing hires in Q1 and an additional 12 added through early Q3 to capture market share from consolidating competitors.
#quarter #year #management #analysts
1 month ago
Our ******* ysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here.
Americas organic growth was driven by broad-based strength in core institutional markets and a cyclical recovery in commercial verticals like office and multifamily.
The company is benefiting from a secular shift in higher education as campuses transition from mechanical keys to contactless mobile credentials, triggering large-scale hardware upgrades.
Data center demand is emerging as a high-growth vertical, now approaching 5% of non-residential business, which management expects will fuel a significant future aftermarket installed base.
International segment performance was hampered by deteriorating macroeconomic conditions in Germany, leading to a downward revision of the full-year organic outlook for that region.
#NVIDIA #americas #data #analysts
Americas organic growth was driven by broad-based strength in core institutional markets and a cyclical recovery in commercial verticals like office and multifamily.
The company is benefiting from a secular shift in higher education as campuses transition from mechanical keys to contactless mobile credentials, triggering large-scale hardware upgrades.
Data center demand is emerging as a high-growth vertical, now approaching 5% of non-residential business, which management expects will fuel a significant future aftermarket installed base.
International segment performance was hampered by deteriorating macroeconomic conditions in Germany, leading to a downward revision of the full-year organic outlook for that region.
#NVIDIA #americas #data #analysts
1 month ago
Interested in Dime Community Bancshares, Inc.? Here are five stocks we like better.
Record Q2 results: Dime Community Bancshares posted record second-quarter revenue of $126 million, with core EPS up 23% year over year to $0.79. Net interest margin expanded to 3.28%, marking the bank's ninth straight quarter of margin growth.
Business lending is driving growth: Business loans grew 26% year over year, and management said the pipeline remains strong at about $1.4 billion. The bank expects low- to mid-single-digit loan growth in the second half while continuing to diversify away from multifamily exposure.
Credit, capital and buybacks: Credit trends were mixed but manageable, with nonperforming **** ets down 28% sequentially and the allowance to loans rising to 98 basis points. Capital levels improved, and management said it expects to resume share repurchases in the third quarter.
Time To Buy Regional Banks? Insider Buying Says Yes
#credit
Record Q2 results: Dime Community Bancshares posted record second-quarter revenue of $126 million, with core EPS up 23% year over year to $0.79. Net interest margin expanded to 3.28%, marking the bank's ninth straight quarter of margin growth.
Business lending is driving growth: Business loans grew 26% year over year, and management said the pipeline remains strong at about $1.4 billion. The bank expects low- to mid-single-digit loan growth in the second half while continuing to diversify away from multifamily exposure.
Credit, capital and buybacks: Credit trends were mixed but manageable, with nonperforming **** ets down 28% sequentially and the allowance to loans rising to 98 basis points. Capital levels improved, and management said it expects to resume share repurchases in the third quarter.
Time To Buy Regional Banks? Insider Buying Says Yes
#credit
1 month ago
This story was originally published on Multifamily Dive. To receive daily news and insights, subscribe to our free daily Multifamily Dive newsletter.
The multifamily CMBS delinquency rate increased 28 bps to 7.23% in June, as several large ***** ets fell delinquent, according to data firm Trepp. Six months ago, it sat at 6.64%, and one year ago, it was at 5.91%.
The return of a Manhattan loan drove the multifamily commercial mortgage-backed securities rate down 27 basis points to 8.23% in June, according to Trepp. Six months ago, it sat at 8.08%, and one year ago, it was at 8.18%.
The $539.5 million Yorkshire & Lexington Towers loan returned to the master servicer after a modification cured the defaults on the senior loan and subordinate mezzanine debt, according to a press release from rating organization KBRA.
The overall Trepp commercial real estate delinquency rate decreased 20 bps to 7.35% in June 2026. Retail rose 30 bps to 6.91%, and office increased 4 bps to 11.57%. Lodging fell 79 bps to 5.22%, and industrial declined 11 bps to 1.2%, according to Trepp.
The multifamily CMBS delinquency rate increased 28 bps to 7.23% in June, as several large ***** ets fell delinquent, according to data firm Trepp. Six months ago, it sat at 6.64%, and one year ago, it was at 5.91%.
The return of a Manhattan loan drove the multifamily commercial mortgage-backed securities rate down 27 basis points to 8.23% in June, according to Trepp. Six months ago, it sat at 8.08%, and one year ago, it was at 8.18%.
The $539.5 million Yorkshire & Lexington Towers loan returned to the master servicer after a modification cured the defaults on the senior loan and subordinate mezzanine debt, according to a press release from rating organization KBRA.
The overall Trepp commercial real estate delinquency rate decreased 20 bps to 7.35% in June 2026. Retail rose 30 bps to 6.91%, and office increased 4 bps to 11.57%. Lodging fell 79 bps to 5.22%, and industrial declined 11 bps to 1.2%, according to Trepp.
1 month ago
Longleaf Partners, managed by Southeastern ****** et Management, released its second-quarter 2026 investor letter for its "Small-Cap Fund". A copy of the letter can be downloaded here. The letter states that the portfolio holdings are attractive now based on both P/V and P/FCF metrics; however, market winners have gone far higher than fair value. The Fund returned -2.47% in the quarter, underperforming the 21.49% return for the Russell 2000 Index and the 17.19% gain for the Russell 2000 Value Index. The underperformance in the quarter was driven by unexpected moves primarily in the IT and industrials sectors and market favor for speculative stocks. The Firm's investment approach focuses on median, unweighted multiples, prioritizing growth in free cash flow per share, the potential for multiple expansion, and strategic initiatives. In addition, please check the Fund's top five holdings to know its best picks in 2026.
In its Q2 2026 investor letter, Longleaf Partners Small-Cap Fund highlighted Empire State Realty Trust, Inc. (NYSE:ESRT). Empire State Realty Trust, Inc. (NYSE:ESRT) is a NYC-focused REIT that owns and operates office, retail, and multifamily ****** ets. On July 13, 2026, Empire State Realty Trust, Inc. (NYSE:ESRT) closed at $5.54 per share, reflecting a market capitalization of $1.69 billion. Empire State Realty Trust, Inc. (NYSE:ESRT) posted a one-month return of 3.36%, and its shares lost 30.49% over the past 52 weeks.
Longleaf Partners Small-Cap Fund stated the following regarding Empire State Realty Trust, Inc. (NYSE:ESRT) in its Q2 2026 investor update:
"Alexander's and Empire State Realty Trust, Inc. (NYSE:ESRT) – New York real estate companies Alexander's and Empire State Realty Trust both contributed in the quarter. Alexander's was the bigger contributor, as the company closed the previously announced ****** et sale of a non core property while signing a lease with Target to get its key shopping center in Queens fully-leased. It is getting harder for the market to ignore the steady FCF power and strong balance sheet of this company. Empire State also contributed but on a lesser scale in the quarter as the company closed a great ****** et sale itself that implies a value for the rest of its business that is over 2x the current share price. Both companies are on offense and able to continue closing their price to value gaps."
Empire State Realty Trust, Inc. (NYSE:ESRT) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 16 hedge fund portfolios held Empire State Realty Trust, Inc. (NYSE:ESRT) at the end of the first quarter, compared to 17 in the previous quarter. While we acknowledge the potential of Empire State Realty Trust, Inc. (NYSE:ESRT) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariff
In its Q2 2026 investor letter, Longleaf Partners Small-Cap Fund highlighted Empire State Realty Trust, Inc. (NYSE:ESRT). Empire State Realty Trust, Inc. (NYSE:ESRT) is a NYC-focused REIT that owns and operates office, retail, and multifamily ****** ets. On July 13, 2026, Empire State Realty Trust, Inc. (NYSE:ESRT) closed at $5.54 per share, reflecting a market capitalization of $1.69 billion. Empire State Realty Trust, Inc. (NYSE:ESRT) posted a one-month return of 3.36%, and its shares lost 30.49% over the past 52 weeks.
Longleaf Partners Small-Cap Fund stated the following regarding Empire State Realty Trust, Inc. (NYSE:ESRT) in its Q2 2026 investor update:
"Alexander's and Empire State Realty Trust, Inc. (NYSE:ESRT) – New York real estate companies Alexander's and Empire State Realty Trust both contributed in the quarter. Alexander's was the bigger contributor, as the company closed the previously announced ****** et sale of a non core property while signing a lease with Target to get its key shopping center in Queens fully-leased. It is getting harder for the market to ignore the steady FCF power and strong balance sheet of this company. Empire State also contributed but on a lesser scale in the quarter as the company closed a great ****** et sale itself that implies a value for the rest of its business that is over 2x the current share price. Both companies are on offense and able to continue closing their price to value gaps."
Empire State Realty Trust, Inc. (NYSE:ESRT) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 16 hedge fund portfolios held Empire State Realty Trust, Inc. (NYSE:ESRT) at the end of the first quarter, compared to 17 in the previous quarter. While we acknowledge the potential of Empire State Realty Trust, Inc. (NYSE:ESRT) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariff
2 months ago
This story was originally published on Multifamily Dive. To receive daily news and insights, subscribe to our free daily Multifamily Dive newsletter.
The Department of Justice filed a proposed settlement Monday to resolve its claims against Willow Bridge Property Co., one of the country's largest apartment managers. The United States et al. v. RealPage et al. federal antitrust case alleges that Willow Bridge violated the Sherman Act, which prohibits unfair monopolies, with its use of RealPage's rent price-setting software.
The agreement, filed July 6 in the U.S. District Court for the Middle District of North Carolina, is part of the DOJ's ongoing enforcement against algorithmic coordination, use of competitively sensitive data and other anticompetitive practices in rental markets, per a Monday press release from the agency. The deal does not include financial penalties and must still get a judge's approval.
The lawsuit alleges that six landlords used RealPage's algorithmic pricing software to fix rents by illegally collecting and sharing confidential pricing information, enabling them to unfairly set prices in tandem rather than independently as competition laws require. Multifamily Dive reached out to Willow Bridge for comment but did not hear back by publication time.
The Justice Department and eight states filed the initial civil antitrust lawsuit against RealPage on Aug. 23, 2024, and amended their complaint on Jan. 7, 2025, to add Willow Bridge and five other apartment management companies as defendants: Greystar, LivCor, Camden Property Trust, Cushman & Wakefield and its subsidiary Pinnacle Property Management Services as well as Cortland Management.
The Department of Justice filed a proposed settlement Monday to resolve its claims against Willow Bridge Property Co., one of the country's largest apartment managers. The United States et al. v. RealPage et al. federal antitrust case alleges that Willow Bridge violated the Sherman Act, which prohibits unfair monopolies, with its use of RealPage's rent price-setting software.
The agreement, filed July 6 in the U.S. District Court for the Middle District of North Carolina, is part of the DOJ's ongoing enforcement against algorithmic coordination, use of competitively sensitive data and other anticompetitive practices in rental markets, per a Monday press release from the agency. The deal does not include financial penalties and must still get a judge's approval.
The lawsuit alleges that six landlords used RealPage's algorithmic pricing software to fix rents by illegally collecting and sharing confidential pricing information, enabling them to unfairly set prices in tandem rather than independently as competition laws require. Multifamily Dive reached out to Willow Bridge for comment but did not hear back by publication time.
The Justice Department and eight states filed the initial civil antitrust lawsuit against RealPage on Aug. 23, 2024, and amended their complaint on Jan. 7, 2025, to add Willow Bridge and five other apartment management companies as defendants: Greystar, LivCor, Camden Property Trust, Cushman & Wakefield and its subsidiary Pinnacle Property Management Services as well as Cortland Management.
2 months ago
This story was originally published on Multifamily Dive. To receive daily news and insights, subscribe to our free daily Multifamily Dive newsletter.
When apartment loans began going bad a few years ago, Houston was one epicenter as Applesway Investment Group defaulted on nearly $230 million in loans for 3,200 units in the city in April 2023.
More than three years later, Houston and, more broadly, Texas rank among the leaders in securitized multifamily loan issues, according to research that Trepp shared with Multifamily Dive.
"Texas is not the highest-stress state for securitized multifamily loans, but it does rank meaningfully elevated nationally," Stephen Buschbom, Trepp's head of applied research and ***** ytics, told Multifamily Dive in emailed comments. "Houston also stands out more clearly at the MSA [metropolitan statistical area] level."
While Texas is tied for fifth among states and Houston is fourth among metro areas, some apartment owners in the Lone Star State and its largest cities face rising costs and unique tax circumstances that are placing additional pressure on their properties. In addition, they're still dealing with supply constraints and higher borrowing costs, which are affecting other landlords across the country.
When apartment loans began going bad a few years ago, Houston was one epicenter as Applesway Investment Group defaulted on nearly $230 million in loans for 3,200 units in the city in April 2023.
More than three years later, Houston and, more broadly, Texas rank among the leaders in securitized multifamily loan issues, according to research that Trepp shared with Multifamily Dive.
"Texas is not the highest-stress state for securitized multifamily loans, but it does rank meaningfully elevated nationally," Stephen Buschbom, Trepp's head of applied research and ***** ytics, told Multifamily Dive in emailed comments. "Houston also stands out more clearly at the MSA [metropolitan statistical area] level."
While Texas is tied for fifth among states and Houston is fourth among metro areas, some apartment owners in the Lone Star State and its largest cities face rising costs and unique tax circumstances that are placing additional pressure on their properties. In addition, they're still dealing with supply constraints and higher borrowing costs, which are affecting other landlords across the country.
2 months ago
This story was originally published on Multifamily Dive. To receive daily news and insights, subscribe to our free daily Multifamily Dive newsletter.
After it sold its management business to Greystar in 2020, Alliance Residential Co. has made its mark as a developer.
In the latest National Multifamily Housing Council Top 50, it ranked No. 4, with 5,501 starts in 2025. However, in 2023, it was No. 1 with a whopping 13,480 starts, and in 2022, it was No. 2 after breaking ground on 11,739 units.
But the Scottsdale, Arizona-based firm has also gotten back into the investment market in a big way. Between December 2025 and March of this year, it acquired more than 2,000 units across California, Texas, Florida and Pennsylvania, according to a press release shared with Multifamily Dive.
"Over the last decade, we have primarily been focused on development," Stephen Squatrito, managing director of acquisitions – west for Alliance Residential Co., told Multifamily Dive.
After it sold its management business to Greystar in 2020, Alliance Residential Co. has made its mark as a developer.
In the latest National Multifamily Housing Council Top 50, it ranked No. 4, with 5,501 starts in 2025. However, in 2023, it was No. 1 with a whopping 13,480 starts, and in 2022, it was No. 2 after breaking ground on 11,739 units.
But the Scottsdale, Arizona-based firm has also gotten back into the investment market in a big way. Between December 2025 and March of this year, it acquired more than 2,000 units across California, Texas, Florida and Pennsylvania, according to a press release shared with Multifamily Dive.
"Over the last decade, we have primarily been focused on development," Stephen Squatrito, managing director of acquisitions – west for Alliance Residential Co., told Multifamily Dive.
2 months ago
Sun Communities, Inc. (NYSE:SUI) is one of the 10 Interest Rate Sensitive Stocks to Buy Now.
On June 26, 2026, Truist lowered its price target on Sun Communities, Inc. (NYSE:SUI) to $138 from $141 and kept a Buy rating. Truist reduced its FY27 FFO view to $7.15 from $7.43 to reflect the announced UK portfolio sale. The firm said investors likely underappreciate the portfolio transformation, with manufactured housing expected to represent about 70% of net operating income after the transaction, supporting a wider valuation premium over multifamily REITs.
On June 5, RBC Capital lowered its price target on Sun Communities, Inc. (NYSE:SUI) to $149 from $151 and kept an Outperform rating on the shares. RBC Capital said it updated its model after the company's UK ***** et sale.
Last month, Wells Fargo lowered its price target on Sun Communities to $142 from $150 and kept an Overweight rating. Wells Fargo said the company's U.K. platform sale was a key step in its multiple expansion thesis when it upgraded Sun Communities to Overweight. The firm said that despite the large impairment, pricing was in line with its expectations, and exiting the U.K. removes a key overhang on the stock.
Sun Communities, Inc. (NYSE:SUI) is a fully integrated REIT listed on the New York Stock Exchange.
On June 26, 2026, Truist lowered its price target on Sun Communities, Inc. (NYSE:SUI) to $138 from $141 and kept a Buy rating. Truist reduced its FY27 FFO view to $7.15 from $7.43 to reflect the announced UK portfolio sale. The firm said investors likely underappreciate the portfolio transformation, with manufactured housing expected to represent about 70% of net operating income after the transaction, supporting a wider valuation premium over multifamily REITs.
On June 5, RBC Capital lowered its price target on Sun Communities, Inc. (NYSE:SUI) to $149 from $151 and kept an Outperform rating on the shares. RBC Capital said it updated its model after the company's UK ***** et sale.
Last month, Wells Fargo lowered its price target on Sun Communities to $142 from $150 and kept an Overweight rating. Wells Fargo said the company's U.K. platform sale was a key step in its multiple expansion thesis when it upgraded Sun Communities to Overweight. The firm said that despite the large impairment, pricing was in line with its expectations, and exiting the U.K. removes a key overhang on the stock.
Sun Communities, Inc. (NYSE:SUI) is a fully integrated REIT listed on the New York Stock Exchange.
2 months ago
This story was originally published on Multifamily Dive. To receive daily news and insights, subscribe to our free daily Multifamily Dive newsletter.
Zillow is facing another lawsuit stemming from its February 2025 deal with fellow apartment listing giant Redfin, this time from a disgruntled investor.
Matt Breidert filed a class-action suit against Zillow, the company's CEO, Jeremy Wacksman, and its CFO, Jeremy Hofmann, alleging that he and other investors were misled about the nature of Zillow's deal with Redfin, per the June 9 complaint filed in the U.S. District Court, Western District of Washington. Rather than a partnership, he claims the move was "an anticompetitive acquisition that placed Zillow at materially heightened regulatory risk."
After the deal drew the ire of the Federal Trade Commission and five state attorneys general last fall, Zillow continued to downplay its legal exposure, Breidert alleges, and Zillow's statements about its business, operations and prospects "were materially false and misleading." Breidert said he purchased Zillow's stock at artificially inflated prices and would not have bought it at that price if he had more information, if at all.
The lawsuit, ****** led Breidert v. Zillow Group, Inc., et al., was filed on behalf of those who bought Zillow class A or class C common stock between Feb. 11, 2025, and May 7, 2026, per the complaint. Breidert said he suffered damages as a result of Zillow's alleged securities laws violations and wants to recover them. He is asking for a jury trial.
Zillow is facing another lawsuit stemming from its February 2025 deal with fellow apartment listing giant Redfin, this time from a disgruntled investor.
Matt Breidert filed a class-action suit against Zillow, the company's CEO, Jeremy Wacksman, and its CFO, Jeremy Hofmann, alleging that he and other investors were misled about the nature of Zillow's deal with Redfin, per the June 9 complaint filed in the U.S. District Court, Western District of Washington. Rather than a partnership, he claims the move was "an anticompetitive acquisition that placed Zillow at materially heightened regulatory risk."
After the deal drew the ire of the Federal Trade Commission and five state attorneys general last fall, Zillow continued to downplay its legal exposure, Breidert alleges, and Zillow's statements about its business, operations and prospects "were materially false and misleading." Breidert said he purchased Zillow's stock at artificially inflated prices and would not have bought it at that price if he had more information, if at all.
The lawsuit, ****** led Breidert v. Zillow Group, Inc., et al., was filed on behalf of those who bought Zillow class A or class C common stock between Feb. 11, 2025, and May 7, 2026, per the complaint. Breidert said he suffered damages as a result of Zillow's alleged securities laws violations and wants to recover them. He is asking for a jury trial.
2 months ago
Sun Communities, Inc. (NYSE:SUI) is one of the 10 Interest Rate Sensitive Stocks to Buy Now.
On June 26, 2026, Truist lowered its price target on Sun Communities, Inc. (NYSE:SUI) to $138 from $141 and kept a Buy rating. Truist reduced its FY27 FFO view to $7.15 from $7.43 to reflect the announced UK portfolio sale. The firm said investors likely underappreciate the portfolio transformation, with manufactured housing expected to represent about 70% of net operating income after the transaction, supporting a wider valuation premium over multifamily REITs.
On June 5, RBC Capital lowered its price target on Sun Communities, Inc. (NYSE:SUI) to $149 from $151 and kept an Outperform rating on the shares. RBC Capital said it updated its model after the company's UK ***** et sale.
Last month, Wells Fargo lowered its price target on Sun Communities to $142 from $150 and kept an Overweight rating. Wells Fargo said the company's U.K. platform sale was a key step in its multiple expansion thesis when it upgraded Sun Communities to Overweight. The firm said that despite the large impairment, pricing was in line with its expectations, and exiting the U.K. removes a key overhang on the stock.
Sun Communities, Inc. (NYSE:SUI) is a fully integrated REIT listed on the New York Stock Exchange.
On June 26, 2026, Truist lowered its price target on Sun Communities, Inc. (NYSE:SUI) to $138 from $141 and kept a Buy rating. Truist reduced its FY27 FFO view to $7.15 from $7.43 to reflect the announced UK portfolio sale. The firm said investors likely underappreciate the portfolio transformation, with manufactured housing expected to represent about 70% of net operating income after the transaction, supporting a wider valuation premium over multifamily REITs.
On June 5, RBC Capital lowered its price target on Sun Communities, Inc. (NYSE:SUI) to $149 from $151 and kept an Outperform rating on the shares. RBC Capital said it updated its model after the company's UK ***** et sale.
Last month, Wells Fargo lowered its price target on Sun Communities to $142 from $150 and kept an Overweight rating. Wells Fargo said the company's U.K. platform sale was a key step in its multiple expansion thesis when it upgraded Sun Communities to Overweight. The firm said that despite the large impairment, pricing was in line with its expectations, and exiting the U.K. removes a key overhang on the stock.
Sun Communities, Inc. (NYSE:SUI) is a fully integrated REIT listed on the New York Stock Exchange.
2 months ago
CoStar Group Inc. (NASDAQ:CSGP) is one of the best NASDAQ stocks with high upside potential. On June 16, CoStar Group launched "Apartments.com Ai," a conversational search tool designed to act as a personalized rental advisor. By replacing traditional filters with NL processing, the platform allows users to describe their specific lifestyle and budget needs, such as proximity to transit or amenities, to receive tailored, intelligent property recommendations.
The tool uses the company's extensive multifamily database to do more than just list apartments; it can answer detailed questions, compare specific communities, and guide users through 3D tours. This development represents a shift from static search results to an interactive guidance model that learns from user preferences over time to improve the accuracy of its recommendations.
This release is part of CoStar Group Inc.'s (NASDAQ:CSGP) broader strategy to integrate advanced AI into its real estate marketplaces, following the earlier introduction of a similar tool for its homes platform. By combining proprietary data with conversational AI, the company aims to streamline the apartment search process, making it faster and more precise for consumers.
CoStar Group Inc. (NASDAQ:CSGP) provides online real estate marketplaces, information, and ******* ytics for the commercial and residential property markets.
While we acknowledge the potential of CSGP as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
The tool uses the company's extensive multifamily database to do more than just list apartments; it can answer detailed questions, compare specific communities, and guide users through 3D tours. This development represents a shift from static search results to an interactive guidance model that learns from user preferences over time to improve the accuracy of its recommendations.
This release is part of CoStar Group Inc.'s (NASDAQ:CSGP) broader strategy to integrate advanced AI into its real estate marketplaces, following the earlier introduction of a similar tool for its homes platform. By combining proprietary data with conversational AI, the company aims to streamline the apartment search process, making it faster and more precise for consumers.
CoStar Group Inc. (NASDAQ:CSGP) provides online real estate marketplaces, information, and ******* ytics for the commercial and residential property markets.
While we acknowledge the potential of CSGP as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
2 months ago
Germantown, Tennessee-based Mid-America Apartment Communities, Inc. (MAA) is a self-managed residential real estate investment trust (REIT) with a market cap of $15.5 billion. It focuses on delivering full-cycle investment performance through the acquisition, development, redevelopment, and professional property management of high-quality, multifamily rental communities.
Companies valued at $10 billion or more are typically classified as "large-cap stocks," and MAA fits the label perfectly, with its market cap exceeding this threshold, underscoring its size, influence, and dominance within the REIT - residential industry. The company's primary structural strength lies in its exceptional balance sheet health and its highly disciplined financial framework, maintaining an investment-grade credit rating and ultra-low leverage that has enabled it to pay uninterrupted consecutive quarterly cash dividends to shareholders since 1994.
Stocks Supported as Geopolitical Risks Recede
AST ****** eMobile Shares Rise on Successful Bluebird Satellite Launches. What This Means for ASTS Stock.
Stocks Rally Before the Open on U.S.-Iran Peace Deal
Companies valued at $10 billion or more are typically classified as "large-cap stocks," and MAA fits the label perfectly, with its market cap exceeding this threshold, underscoring its size, influence, and dominance within the REIT - residential industry. The company's primary structural strength lies in its exceptional balance sheet health and its highly disciplined financial framework, maintaining an investment-grade credit rating and ultra-low leverage that has enabled it to pay uninterrupted consecutive quarterly cash dividends to shareholders since 1994.
Stocks Supported as Geopolitical Risks Recede
AST ****** eMobile Shares Rise on Successful Bluebird Satellite Launches. What This Means for ASTS Stock.
Stocks Rally Before the Open on U.S.-Iran Peace Deal
