DR Horton swings to $800 million loss

D.R. Horton Inc.’s chief executive said Tuesday he expects this fiscal year to be even more challenging than 2008, which ended with a nearly $800 million quarterly loss on slower home sales and more than $1 billion in charges. The Fort Worth, Texas-based homebuilder reported a net loss of $799.9 million, or $2.53 a share, compared to a loss of $50.1 million or 16 cents a share, in the year-ago period. Total sales for the quarter were $1.75 billion,... 

ACPT Announces Temporary Amendment of Sales Agreement With Lennar, and Agrees to Sell Interest in Joint Venture; Declares Dividend

American Community Properties Trust announced today that it has reached agreement on a third amendment to the Company’s sales agreement with Lennar Corp., and has sold its interest in a joint venture to the homebuilding company. The Company also announced that its Board of Trustees authorized a cash dividend of $0.10 per share on common shares outstanding. The dividend will be payable on December 29, 2008 to shareholders of record on December... 

Grubb & Ellis Directors Receive Support From Another Leading Proxy Advisory Firm

Grubb & Ellis Company, a leading real estate services and investment firm, today announced that RiskMetrics Group (formerly Institutional Shareholder Services or ISS) recommends that Grubb & Ellis stockholders vote “FOR” the re-election of all three of the Board’s incumbent directors — Harold H. Greene, Devin I. Murphy and D. Fleet Wallace — at the company’s Annual Meeting of Stockholders on Wednesday, December... 

Och-Ziff Capital Management Group LLC Announces New Senior Management Hires in Asia

Och-Ziff Capital Management Group LLC (NYSE: OZM – News; “Och-Ziff”), today announced that it has hired four senior real estate investment professionals in Asia in a continued effort to augment Och-Ziff’s global real estate capabilities. The four principals will join Och-Ziff Asia Real Estate as Executive Managing Directors and will focus on building out an Asian real estate platform in Hong Kong, Singapore, China, India and... 

Dril-Quip, Inc. Adopts Stockholder Rights Plan

Dril-Quip, Inc. announced today that its Board of Directors has adopted a Stockholder Rights Plan (the “Rights Plan”) designed to protect the Company’s stockholders from coercive or unfair takeover techniques. Terms of the Rights Plan provide for a dividend distribution of one right (a “Right”) for each outstanding share of common stock to holders of record at the close of business on December 5, 2008. The Rights Plan... 

Och-Ziff Capital Management Group LLC Announces New Senior Management Hires in Asia

Och-Ziff Capital Management Group LLC announced that it has hired four senior real estate investment professionals in Asia in a continued effort to augment Och-Ziff’s global real estate capabilities. The four principals will join Och-Ziff Asia Real Estate as Executive Managing Directors and will focus on building out an Asian real estate platform in Hong Kong, Singapore, China, India and other countries throughout Asia and the Pacific. The... 

Lexington Realty Trust Announces Quarterly Dividend of $0.18 per Common Share and Targeted Common Share Dividend for 2009

Lexington Realty Trust announced that it declared a regular common share dividend/distribution for the quarter ended December 31, 2008 of $0.18 per common share/unit payable on January 15, 2009 to shareholders/unitholders of record on December 31, 2008. Lexington also declared dividends of $0.503125 per Series B Cumulative Redeemable Preferred Share, $0.8125 per Series C Cumulative Convertible Preferred Share, and $0.471875 per Series D Cumulative... 

The PMI Group, Inc. Announces Investor Conference on December 4, 2008

The PMI Group, Inc. announced today that it will host an Investor Conference on Thursday, December 4, 2008 from 9:00 a.m. to 12:00 p.m. EST at the Hilton New York in New York City. The purpose of the Investor Conference is for PMI executives to communicate the Company’s strategy and operational highlights to its shareholders. If you are unable to attend the conference, a live webcast of PMI’s presentation will be available at its website... 

Camden Property Trust Announces Fourth Quarter 2008 Dividend

The Board of Trust Managers of Camden Property Trust declared a fourth quarter dividend of $0.70 per share to holders of record as of December 4, 2008 of its Common Shares of Beneficial Interest. The dividend is to be paid on January 2, 2009. Ric Campo, Camden’s Chairman and Chief Executive Officer, stated that “with all of the uncertainty in the financial markets, many analysts and shareholders have asked questions about possible changes in... 

United Rentals Appoints William Plummer as Chief Financial Officer

United Rentals, Inc. announced that it has appointed William B. Plummer as Chief Financial Officer, effective December 1, 2008. Mr. Plummer brings more than two decades of financial leadership experience to United Rentals, most recently as Chief Financial Officer of Dow Jones & Company. In that role, he set policy for its global finance and corporate strategy functions. Prior to Dow Jones, Mr. Plummer was Vice President and Treasurer of Alcoa...