This is One of the Biggest Real Estate Catalysts for New Year 2024 December 15, 2023 - Baystreet.ca Markets cheered news the Federal Reserve left interest rates as is, and opened the door to three potential interest rate hikes in the new year. With that, “Additional rate hikes no longer appear to be part of the conversation. It is all about the pace of cuts from here,” said Mike Fratantoni, the chief economist of the Mortgage Bankers Association, as quoted by HousingWire.com. All of which is great news for real estate companies, such as La Rosa Holdings (NASDAQ: LRHC), eXp World Holdings (NASDAQ: EXPI), CBRE Group (NYSE: CBRE), FRP Holdings (NASDAQ: FRPH), and Realty Income (NYSE: O). “This is good news for the housing and mortgage markets. We expect that this path for monetary policy should support further declines in mortgage rates, just in time for the spring housing market. We are forecasting modest growth in new and existing home sales in 2024, supporting growth in purchase originations, following an extraordinarily slow 2023, added chief economist Fratantoni. Better, once rates started to drop, it could result in significant savings for homeowners, and those looking to refinance. La Rosa Holdings Corp. (NASDAQ: LRHC) Growing with Acquisitions La Rosa Holdings Corp., a holding company for five agent-centric, technology-integrated, cloud-based, multi-service real estate segments, today announced that it has acquired a 100% interest in the Company’s franchisee - La Rosa Realty CW Properties, LLC located in Longwood, Florida. CW Properties generated revenue of $3.4 million and had positive net income in 2022. The franchisee provides residential and commercial real estate brokerage services. It also provides coaching and support services to agents on a fee basis. Joe La Rosa, CEO of the Company, commented, “We continue to execute on our planned roll-up strategy of acquiring franchisees, as this is our third real estate brokerage franchisee acquisition this year. Our goal is to acquire an additional 10 franchisees over the next six to eight months. We also have other acquisitions in the pipeline that we are actively evaluating. These acquisitions would contribute to both our top-line and bottom-line growth, as we believe that our current infrastructure is set up to support five times our current agent count.” “Our goal is to reach an annualized revenue run rate of $100 million before the end of 2024. While we historically operated profitably prior to our IPO in 2021, we believe our projected revenue growth will ensure our return to profitability as an exit run rate in 2024, even after factoring in our new costs and overhead as a public company. In our view, the fact that both our revenue and profitability continue to improve, despite the current market, sets us apart from most other brokerages in the industry — a testament to the strength and scalability of our business model. We look forward to providing updates on our other planned acquisitions in the near future.” Other related developments from around the markets include: eXp Realty, “the most agent-centric real estate brokerage on the planet” and the core subsidiary of eXp World Holdings, Inc. just announced eXp Luxury, its forward-thinking luxury real estate program, has surpassed 1,100 members throughout the United States, Puerto Rico and Canada, with additional countries expected to launch by the first quarter of 2024. eXp Luxury leverages eXp Realty’s exclusive resources and innovative technology. It first launched in the U.S. in October 2022, quickly growing to 700 members in less than a year. The Canadian launch followed in September 2023 and Puerto Rico this month. The program is expected to expand into the United Kingdom, South Africa, Portugal, Australia and New Zealand by the first quarter of 2024. CBRE Group announced that its Board of Directors has appointed Chief Executive Officer Robert Sulentic to the additional role of Chair of the Board of Directors, effective immediately. Mr. Sulentic, who has served as President and CEO of CBRE since December 2012, succeeds Brandon Boze, who has served as Chair since May 2018 and will remain on the Board. Shira Goodman, former Chief Executive Officer of Staples, Inc. and a Director since May 2019, has been appointed Lead Independent Director. Mr. Sulentic has partnered closely with Mr. Boze as Board Chair over the past five-plus years to drive strategic, operational and financial gains across the company. FRP Holdings Inc. just reported that net income for the third quarter of 2023 was $1,259,000 or $.13 per share versus $480,000 or $.05 per share in the same period last year. The third quarter of 2023 was impacted by the following items: Operating profit increased $1,047,000 compared to the same quarter last year due to improved revenues in all four segments. Interest income increased $1,512,000 due primarily to an increase in interest earned on cash equivalents ($1,118,000) and increased income from our lending ventures ($349,000). Interest expense increased $378,000 compared to the same quarter last year due to less capitalized interest. We capitalized less interest because of fewer in-house and joint venture projects under development this quarter compared to last year. Equity in loss of Joint Ventures increased $1,035,000 primarily due to increased losses during lease up at The Verge ($856,000). Realty Income, The Monthly Dividend Company announced it has declared an increase in the company's common stock monthly cash dividend to $0.2565 per share from $0.2560 per share. The dividend is payable on January 12, 2024, to stockholders of record as of January 2, 2024. This is the 123rddividend increase since Realty Income's listing on the NYSE in 1994. The ex-dividend date for January's dividend is December 29, 2023. The new monthly dividend represents an annualized dividend amount of $3.078 per share as compared to the prior annualized dividend amount of $3.072 per share. Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for La Rosa Holdings Corp. by La Rosa Holdings Corp. We own ZERO shares of La Rosa Holdings Corp. Please click here for disclaimer. Contact: Ty Hoffer Winning Media281.804.7972Ty@winning.media
This is One of the Biggest Real Estate Catalysts for New Year 2024 December 15, 2023 - Baystreet.ca Markets cheered news the Federal Reserve left interest rates as is, and opened the door to three potential interest rate hikes in the new year. With that, “Additional rate hikes no longer appear to be part of the conversation. It is all about the pace of cuts from here,” said Mike Fratantoni, the chief economist of the Mortgage Bankers Association, as quoted by HousingWire.com. All of which is great news for real estate companies, such as La Rosa Holdings (NASDAQ: LRHC), eXp World Holdings (NASDAQ: EXPI), CBRE Group (NYSE: CBRE), FRP Holdings (NASDAQ: FRPH), and Realty Income (NYSE: O). “This is good news for the housing and mortgage markets. We expect that this path for monetary policy should support further declines in mortgage rates, just in time for the spring housing market. We are forecasting modest growth in new and existing home sales in 2024, supporting growth in purchase originations, following an extraordinarily slow 2023, added chief economist Fratantoni. Better, once rates started to drop, it could result in significant savings for homeowners, and those looking to refinance. La Rosa Holdings Corp. (NASDAQ: LRHC) Growing with Acquisitions La Rosa Holdings Corp., a holding company for five agent-centric, technology-integrated, cloud-based, multi-service real estate segments, today announced that it has acquired a 100% interest in the Company’s franchisee - La Rosa Realty CW Properties, LLC located in Longwood, Florida. CW Properties generated revenue of $3.4 million and had positive net income in 2022. The franchisee provides residential and commercial real estate brokerage services. It also provides coaching and support services to agents on a fee basis. Joe La Rosa, CEO of the Company, commented, “We continue to execute on our planned roll-up strategy of acquiring franchisees, as this is our third real estate brokerage franchisee acquisition this year. Our goal is to acquire an additional 10 franchisees over the next six to eight months. We also have other acquisitions in the pipeline that we are actively evaluating. These acquisitions would contribute to both our top-line and bottom-line growth, as we believe that our current infrastructure is set up to support five times our current agent count.” “Our goal is to reach an annualized revenue run rate of $100 million before the end of 2024. While we historically operated profitably prior to our IPO in 2021, we believe our projected revenue growth will ensure our return to profitability as an exit run rate in 2024, even after factoring in our new costs and overhead as a public company. In our view, the fact that both our revenue and profitability continue to improve, despite the current market, sets us apart from most other brokerages in the industry — a testament to the strength and scalability of our business model. We look forward to providing updates on our other planned acquisitions in the near future.” Other related developments from around the markets include: eXp Realty, “the most agent-centric real estate brokerage on the planet” and the core subsidiary of eXp World Holdings, Inc. just announced eXp Luxury, its forward-thinking luxury real estate program, has surpassed 1,100 members throughout the United States, Puerto Rico and Canada, with additional countries expected to launch by the first quarter of 2024. eXp Luxury leverages eXp Realty’s exclusive resources and innovative technology. It first launched in the U.S. in October 2022, quickly growing to 700 members in less than a year. The Canadian launch followed in September 2023 and Puerto Rico this month. The program is expected to expand into the United Kingdom, South Africa, Portugal, Australia and New Zealand by the first quarter of 2024. CBRE Group announced that its Board of Directors has appointed Chief Executive Officer Robert Sulentic to the additional role of Chair of the Board of Directors, effective immediately. Mr. Sulentic, who has served as President and CEO of CBRE since December 2012, succeeds Brandon Boze, who has served as Chair since May 2018 and will remain on the Board. Shira Goodman, former Chief Executive Officer of Staples, Inc. and a Director since May 2019, has been appointed Lead Independent Director. Mr. Sulentic has partnered closely with Mr. Boze as Board Chair over the past five-plus years to drive strategic, operational and financial gains across the company. FRP Holdings Inc. just reported that net income for the third quarter of 2023 was $1,259,000 or $.13 per share versus $480,000 or $.05 per share in the same period last year. The third quarter of 2023 was impacted by the following items: Operating profit increased $1,047,000 compared to the same quarter last year due to improved revenues in all four segments. Interest income increased $1,512,000 due primarily to an increase in interest earned on cash equivalents ($1,118,000) and increased income from our lending ventures ($349,000). Interest expense increased $378,000 compared to the same quarter last year due to less capitalized interest. We capitalized less interest because of fewer in-house and joint venture projects under development this quarter compared to last year. Equity in loss of Joint Ventures increased $1,035,000 primarily due to increased losses during lease up at The Verge ($856,000). Realty Income, The Monthly Dividend Company announced it has declared an increase in the company's common stock monthly cash dividend to $0.2565 per share from $0.2560 per share. The dividend is payable on January 12, 2024, to stockholders of record as of January 2, 2024. This is the 123rddividend increase since Realty Income's listing on the NYSE in 1994. The ex-dividend date for January's dividend is December 29, 2023. The new monthly dividend represents an annualized dividend amount of $3.078 per share as compared to the prior annualized dividend amount of $3.072 per share. Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for La Rosa Holdings Corp. by La Rosa Holdings Corp. We own ZERO shares of La Rosa Holdings Corp. Please click here for disclaimer. Contact: Ty Hoffer Winning Media281.804.7972Ty@winning.media