Midwest retail shopping center operator Inland Real Estate (NYSE: IRC ) entered into an agreement to buy out for $121 million cash the 50% interest in the�IN Retail Fund that it doesn't already own.
The fund operates�13 shopping centers, including 11 in the Chicagoland area, representing approximately 2.3 million square feet of gross leasable space. The stake Inland is purchasing is currently held by the�New York State Teachers' Retirement System and the total value of the properties are estimated at $395.6 million.�As of March 31, the portfolio was 97.5% leased and financial occupancy of the portfolio was 93.4%.
Noting the joint venture between the real estate investment trust and NYSTRS was formed back in 2004, Inland Real Estate President and CEO�Mark Zalatoris said: "This venture has been a capital-efficient way for the Company to acquire premier retail assets while enhancing our yield on investment. However, the opportunity to acquire NYSTRS's interest at this time advances our strategic goals to increase the size and quality of our consolidated portfolio, simplify our ownership structure and strengthen our balance sheet."
Top Financial Companies To Buy Right Now: The Hanover Insurance Group Inc.(THG)
The Hanover Insurance Group, Inc., through its subsidiaries, underwrites commercial and personal property, and casualty insurance coverage in the United States. It operates in three segments: Commercial Lines, Personal Lines, and Other Property and Casualty. The Commercial Lines segment provides coverage for commercial multiple peril; commercial automobile; workers? compensation; and other commercial coverages, including specialty program business, inland marine, and bonds, as well as umbrella, general liability, fire, specialty property, and professional and management liability. The Personal Lines segment offers coverage for personal automobile, homeowners, and other personal lines, such as inland marine, umbrella, fire, personal watercraft, and earthquake. The Other Property and Casualty segment provides investment advisory services; and manages assets for unaffiliated institutions, such as insurance companies, retirement plans, and foundations. The company sells its p roducts and services through a network of independent agents. The Hanover Insurance Group, Inc. was founded in 1844 and is headquartered in Worcester, Massachusetts.
Top Financial Companies To Buy Right Now: Annapolis Bancorp Inc.(ANNB)
Annapolis Bancorp, Inc. operates as a bank holding company for BankAnnapolis that provides commercial and retail banking services to small businesses, professional concerns, and individuals in Maryland. It accepts various deposit products, including transaction, savings, money market, individual retirement, saving accounts, checking accounts, and NOW accounts, as well as certificates of deposits and time deposits. The company also offers loan products comprising commercial loans, commercial real estate loans, construction loans, one- to four-family residential mortgage loans, home equity loans, and letters of credit; and consumer loans, such as personal lines of credit, as well as generally fixed rate installment loans secured by new or used automobiles, and new or used boats; and loans secured by deposit accounts. In addition, it provides cash management services, which include account analysis, remote deposit capture, merchant services, and a range of deposit products. T he company operates six branches in Anne Arundel County, Maryland; and one branch located in Kent Island in Queen Anne?s County, Maryland. Annapolis Bancorp, Inc. was founded in 1988 and is headquartered in Annapolis, Maryland.
Top 5 Clean Energy Companies To Invest In Right Now: Citizens Inc (CIA)
Citizens, Inc. (Citizens), incorporated on November 8, 1977, is an insurance holding company serving the life insurance needs of individuals in the United States. The Company operates in three segments: Life Insurance, Home Service and Other Non-insurance Enterprises. Its core insurance operations include issuing and servicing the United States Dollar-denominated ordinary whole life insurance and endowment policies predominantly to high net worth, high income foreign residents, principally in Latin America and the Pacific Rim, through independent marketing consultants; ordinary whole life insurance policies to middle income households concentrated in the midwest and southern United States through independent marketing consultants, and final expense and limited liability property policies to middle and lower income households in Louisiana, Arkansas, and Mississippi through employee and independent agents in its home service distribution channel.
The Company�� Life Insurance segment issues ordinary whole life insurance domestically and in United States Dollar-denominated amounts to foreign residents. These contracts are designed to provide a fixed amount of insurance coverage over the life of the insured. Additionally, endowment contracts are issued by the Company, which are principally accumulation contracts that incorporate an element of life insurance protection. The Company operates the segment through its subsidiaries: CICA Life Insurance Company of America (CICA) and Citizens National Life Insurance Company (CNLIC).
The Company offers several ordinary whole life insurance and endowment products designed to meet the needs of its non-United States policy owners. Its domestic life insurance products focus primarily on living needs and provide benefits focused toward accumulating money for the policyowner. The Company�� life insurance products are principally designed to address the insured�� concern about outliving his or her monthly income,! while at the same time providing death benefits. The primary purpose of its product portfolio is to help the insured create capital for needs, such as retirement income, children's higher education funds, business opportunities, emergencies and health care needs.
Home Service Insurance
The Company operates in the Home Service market through its subsidiaries Security Plan Life Insurance Company (SPLIC) and Security Plan Fire Insurance Company (SPFIC), and focus on the life insurance needs of the middle and lower income markets, primarily in Louisiana, Mississippi and Arkansas. Its home service insurance products consist primarily of small face amount ordinary whole life and pre-need policies, which are designed to fund final expenses for the insured, primarily consisting of funeral and burial costs.
Other Non-Insurance Enterprises
Other Non-insurance Enterprises includes Computing Technology, Inc., which provides data processing services to the Company, and Insurance Investors, Inc., which provides aviation transportation to the Company. This segment also includes the results of Citizens, Inc., the parent Company.
Top Financial Companies To Buy Right Now: Stamford Land Corporation Ltd (H07.SI)
Stamford Land Corporation Ltd, an investment holding company, owns and operates a portfolio of luxury hotels in Australia, Singapore, and New Zealand. It operates hotels and resorts under the Stamford Grand North Ryde, Sir Stamford Circular Quay, Stamford Plaza Sydney Airport, Stamford Grand Adelaide, Stamford Plaza Adelaide, Stamford Plaza Melbourne, Stamford Plaza Brisbane, and Stamford Plaza Auckland names. It also engages in the investment, construction, development, and trading of residential apartments, and retail and commercial buildings. In addition, the company is involved in providing travel agency services; importing, exporting, and dealing in wall coverings, interior decorations, and furnishing products; and offering management and consultancy services. Stamford Land Corporation Ltd is based in Singapore.
Top Financial Companies To Buy Right Now: Legal & General Gp(LGEN.L)
Legal & General Group Plc provides risk, savings, and investment management products in the United Kingdom, the United States, France, the Netherlands, and internationally. The company?s Risk segment offers individual and group protection, individual and bulk purchase annuities, and general insurance products. This segment also involves in estate agency and the housing related business conducted through its regulated mortgage network. The company?s Savings segment provides non profit investment bonds; non profit pensions, including SIPPs; individual savings accounts; investment bonds; pensions; retail unit trusts; structured products; and various with-profit products. Legal & General Group?s Investment Management segment involves in the institutional fund management business comprising index funds, fixed income funds, risk management solutions, and property related products, as well as private equity. The company also offers term assurance, wealth management, and unit-l inked savings products. Legal & General Group Plc was founded in 1836 and is based in London, the United Kingdom.
Top Financial Companies To Buy Right Now: Commerce Bancshares Inc.(CBSH)
Commerce Bancshares, Inc. operates as the bank holding company for Commerce Bank, N.A. that provides various general banking services to individuals and businesses. It operates in three segments: Consumer, Commercial, and Wealth. The Consumer segment includes the retail branch network, consumer installment lending, personal mortgage banking, consumer debit and credit bank card activities, and student lending. The Commercial segment provides various corporate lending, merchant and commercial bank card products, leasing, and international services, as well as business and government deposit and cash management services. The Wealth segment offers traditional trust and estate tax planning services, brokerage services, and advisory and discretionary investment portfolio management services to personal and institutional corporate customers. This segment also manages a family of proprietary mutual funds, which are available for sale to trust and general retail customers. The comp any, through its other non-banking subsidiaries, involves in underwriting credit life and credit accident, and health insurance; selling property and casualty insurance; private equity investment; securities brokerage; mortgage banking; and leasing activities. It serves customers through a network of branches and ATM machines, online banking, and a central contact center from approximately 370 locations in Missouri, Kansas, Illinois, Oklahoma, and Colorado. Commerce Bancshares, Inc. was founded in 1966 and is headquartered in Kansas City, Missouri.
Top Financial Companies To Buy Right Now: Credit Suisse Group(CS)
Credit Suisse Group AG, together with its subsidiaries, operates as a financial services company. The company operates in three segments: Private Banking, Investment Banking, and Asset Management. The Private Banking segment offers advisory services and a range of wealth management solutions, including pension planning, life insurance products, tax planning, and wealth and inheritance advice for the high-net-worth and ultra-high-net-worth individuals. This segment also supplies banking products and services to affluent, high-net-worth and ultra-high-net-worth clients, and corporates and institutions. The Investment Banking segment provides investment banking and securities products and services to corporations, governments, pension funds, and institutions. Its products and services include debt and equity underwriting, sales and trading, mergers and acquisitions advice, divestitures, corporate sales, restructuring, and investment research. The Asset Management segment offe rs integrated investment solutions and services to institutions, governments, foundations and endowments, corporations, and individuals. It provides access to a range of investment classes across alternative investment, asset allocation, and traditional investment strategies. The company operates in Switzerland, Europe, the Middle East, Africa, the Americas, and the Asia Pacific. Credit Suisse Group AG was founded in 1856 and is headquartered in Zurich, Switzerland.Advisors' Opinion:
- [By Louis Navellier]
Credit Suisse (NYSE:CS) is known for providing advisory services, solutions and products to companies, institutional clients and private clients globally. CS stock’s yearly performance has been a sore spot for investors, having dropped more than 40%.
Top Financial Companies To Buy Right Now: Union Bankshares Inc.(UNB)
Union Bankshares, Inc. operates as the bank holding company for Union Bank, which provides commercial and retail banking services in northern Vermont and northwestern New Hampshire. Its deposit products include personal and business checking, NOW, savings, money market, individual retirement/SEP/KEOGH, and health savings accounts, as well as certificates of deposit. The company?s retail loan portfolio consists primarily of residential mortgage loans, construction loans, home equity loans or lines of credit, traditional installment loans, and personal lines of credit; commercial loan portfolio comprises term loans, lines of credit, commercial construction loans, commercial and multi-family real estate loans, loans for plant and equipment, working capital, real estate renovation, and other business purposes; and municipal loan portfolio includes term loans and construction financing, as well as SBA guaranteed and home improvement loans, and overdraft checking privileges. It also offers online cash management services, including account reconciliation, credit card depository, automated clearing house origination, wire transfers, and night depository; and other services, such as standby letters of credit, travelers or bank checks, and safe deposit boxes. In addition, the company provides merchant credit card, automated teller machine (ATM), telephone and Internet banking, and trust and asset management services, as well as debit and ATM cards. Union Bankshares, Inc. offers its retail banking services to individuals; and commercial banking services to small and medium-sized corporations, partnerships, sole proprietorships, nonprofit organizations, local municipalities, and school districts. As of July 20, 2011, it operated 13 banking offices, a loan center, and 29 ATM facilities in Vermont; and 4 branches and ATM facilities in New Hampshire. The company was founded in 1891 and is headquartered in Morrisville, Vermont.