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☆ Bank of America sees opportunity in dividend stocks. Here are a few names it's highlighting
▼ + stars: | 2024-03-22 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Select dividend stocks could help boost investors' portfolio returns as the U.S. economy continues to improve, according to Bank of America. Investors should seek out companies with above-market dividend yields that are secure, not stretched, Subramanian advised. Among the energy names on the list is Chevron , which has a 4.2% dividend yield. The stock has an average rating of overweight and 14% upside to the average analyst price target, according to FactSet. Meanwhile, with Fifth Third Bancorp , investors can enjoy a 3.8% dividend yield.

Persons: Savita Subramanian, Subramanian, Russell, Michael Wirth, CNBC's Organizations: Bank of America, Investors, Chevron, American Electric Power, Consolidated Edison, Utilities, Fifth Third Bancorp, Bancorp, Essex, Hotels, Resorts Locations: U.S

Whole Foods temporarily closed one of its San Francisco locations due to rampant shoplifting and continued threats to workers and customers. Park Hotels and Resorts, the investment firm that owns Hilton San Francisco Union Square and Parc 55 hotels, also recently revealed it would leave the city. A bus drives by the Westfield San Francisco Centre on June 14, 2023 in San Francisco, California. Downtown San Francisco has an estimated 18.4 million square feet of available real estate. While violent crime statistics in San Francisco have remained relatively low in recent years, compared to other major cities, property crimes have risen since 2020, according to San Francisco Police Department data.

Persons: Los Angeles CNN — John Chachas, Governor Newsom, ” Chachas, Chachas, San Francisco “ unlivable, Gavin Newsom, Justin Sullivan, Nordstrom, Thomas Baltimore , Jr, ” What’s Organizations: Los Angeles CNN, London Breed, city’s, San Francisco Chronicle, Chachas, Republican, London, San, Anthropologie, Whole Foods, Westfield, Resorts, Hilton San Francisco, Square, Westfield San Francisco Centre, San Francisco Police Department, University of California Locations: San Francisco, California, Francisco, ”, Nevada, San Francisco’s, Union, San Francisco’s Union, San Francisco , California, Park, San Francisco's, U.S, Canada, Downtown San Francisco

☆ San Francisco mayor proposes tearing down Westfield Mall
▼ + stars: | 2023-06-23 | by ( Samantha Delouya | ) edition.cnn.com time to read: +3 min

CNN —San Francisco’s mayor Thursday proposed remaking the city’s struggling downtown by tearing down abandoned retail space, including the city’s Westfield mall, and building new structures to reshape the struggling city. A Westfield Mall could become something completely different than what it currently is,” she said. Earlier this month, Westfield said it planned to surrender its mall, the San Francisco Centre, back to its lender. The mall operator cited the “challenging operating conditions in downtown San Francisco, which have led to declines in sales, occupancy and foot traffic.”Shoppers walk through the Westfield San Francisco Centre on April 13, 2022 in San Francisco, California. So, let’s make some adjustments to do everything we can to reimagine what parts of San Francisco can be,” Breed said.

Persons: London Breed, Breed’s, it’s, Breed, ”, Justin Sullivan, ” Breed Organizations: CNN, Westfield, ”, London, Bloomberg’s Technology, San Francisco Centre, Westfield San Francisco Centre, Resorts, Hilton San Francisco, Square, San Francisco, San Locations: Francisco’s, San Francisco, San Francisco , California, city’s, ”

☆ Empty offices, abandoned malls, concerns over crime: Why San Francisco, the Golden City, is losing its luster
▼ + stars: | 2023-06-17 | by ( Al Yoon | ) www.businessinsider.com time to read: +8 min

Days later, Unibail-Rodamco-Westfield and coowner Brookfield gave the San Francisco City Centre back to their lenders after the exit of retailers left the mall just over half occupied. Whatever is going on in San Francisco, we are not interested in being part of that any longer." Fear of crime taints the cityCrime, or the fear of it, often creeps into conversations about San Francisco, too. "I ask, what's the driver" of the San Francisco office vacancies, Scavone told Insider. He continued: "Is it because downtown San Francisco is somewhat of a difficult commute from suburbs in Marin County or the East Bay?"

Persons: Manus Clancy, Trepp, —, Brookfield, Clancy, Salesforce, Jeff Burg, he's, Burg, we're, Thomas Baltimore, hasn't, Elon Musk, Bob Lee, Frank Scavone, Scavone Organizations: Service, San Francisco, California, Hilton San Francisco, Square, Parc, San Francisco City Centre, San, Krea, Union, Census, LinkedIn, Park Hotels, Resorts, Westfield, ABC, San Francisco Travel Association, Elon, Foods, The New York Times, McKinsey & Co, downtown Locations: San Francisco, San, San Francisco Chronicle, Westfield, Real, Francisco, New York, cubicles, Boston , Chicago, Houston, Miami, San Francisco's Hayes Valley, Manhattan, Tenderloin, —, downtown San Francisco, Marin County

☆ AT&T to shut flagship store in downtown San Francisco
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: +1 min

June 16 (Reuters) - U.S. wireless carrier AT&T (T.N) said on Friday it would close its flagship store in downtown San Francisco, deepening the real estate pain in the once-booming tech hub that has been particularly hard hit by the pandemic. Stores in San Francisco have been closing their doors as they try to cut down on real estate space in the face of declining customer visits, occupancy and sales. Earlier this week, Unibail-Rodamco-Westfield (URW.PA) said it would transfer its Westfield San Francisco shopping mall to lenders. Nordstrom (JWN.N) said last month it was going to give up its downtown store in the mall. Real estate investment trust Park Hotels & Resorts (PK.N) had also said last week it ceased making payments toward a $725 million mortgage linked to its Hilton San Francisco Union Square and Parc 55 hotels.

Persons: Powell, Samrhitha, Krishna Chandra Organizations: AT, Westfield San, Nordstrom, Resorts, Hilton San Francisco, Square, Thomson Locations: San Francisco, Westfield, Westfield San Francisco, Bengaluru

Unibail-Rodamco-Westfield (URW.PA) said late on Monday it will transfer its Westfield San Francisco shopping mall to lenders. The announcement followed Park Hotels & Resorts (PK.N) statement last week that it ceased making payments toward a $725 million mortgage linked to its Hilton San Francisco Union Square and Parc 55 hotels. Westfield's decision is the latest blow to San Francisco, the once-booming tech hub that has been particularly hard hit by the pandemic. The potential for difficulties from commercial real estate to flow through to banks is also becoming a bigger worry for investors and regulators. Warren Wachsberger, CEO of Aecom Capital, a real estate investor, said mall owners like Unibail-Rodamco-Westfield are focusing on their best properties.

Persons: Thomas LaSalvia, Warren Wachsberger, we're, Wachsberger, Granth, Shankar Ramakrishnan, Matt Tracy, Sriraj Kalluvila, Alexandra Hudson Organizations: Westfield San, Resorts, Hilton San Francisco, Square, downtown, Real Estate Economics, Aecom, Westfield, U.S, Flagship, Nordstrom, Banana Republic, Washington DC, Alexandra Hudson Our, Thomson Locations: San Francisco, Westfield, Westfield San Francisco, downtown San Francisco, Bengaluru, New York, Washington

☆ Westfield giving up San Francisco mall amid falling foot traffic
▼ + stars: | 2023-06-12 | by ( Samantha Delouya | ) edition.cnn.com time to read: +2 min

CNN —Shopping mall operator Westfield said it plans to give up control of the San Francisco Centre mall after more than 20 years of operation in another sign of San Francisco’s economic struggles. Last month, a Westfield spokesperson attributed Nordstrom’s closing to “unsafe conditions for customers, retailers, and employees.”Once a bustling retail center in the heart of San Francisco, the San Francisco Centre has taken a significant hit in the past few years. Three years later, corporate America has yet to return in the same numbers: office vacancies in San Francisco have reached a 30-year high. According to a tally from the San Francisco Standard, twenty retailers near San Francisco’s Union Square have closed their doors since 2020. Westfield said it has already begun transferring management of the San Francisco Centre back to its lender, which will appoint a receiver to operate the property going forward.

Persons: Thomas Baltimore , Jr Organizations: CNN, Westfield, San Francisco Centre, Nordstrom, San Francisco, San, Resorts, Hilton San Francisco, Square Locations: San Francisco, Banana, Westfield, Westfield’s, America, San Francisco’s Union, Baltimore

☆ Flagship hotels are becoming collateral damage in San Francisco's office mess
▼ + stars: | 2023-06-06 | by ( Al Yoon | ) www.businessinsider.com time to read: +2 min

Park Hotels & Resorts, an investment company, defaulted on a $725 million San Francisco hotel loan. The company's CEO plans to give up the properties, blaming remote work and "street conditions." This week, Park Hotels & Resorts, one of the largest publicly-traded hospitality investment companies with more than 29,000 rooms, chose to default on a $725 million loan secured by two flagship San Francisco hotels, the Hilton San Francisco Union Square and its Parc 55, about a block away. The "burden" of the properties was just too great, and it's not only because workers are abandoning the area, Thomas Baltimore, the Park Hotels CEO, said in a statement. San Francisco has been one of the large urban metros hit hardest due to remote work and the outright exits of large technology companies.

Persons: —, it's, Thomas Baltimore, –, Salesforce Organizations: Resorts, San, Service, Hotels, Hilton San Francisco, Square, Park Hotels, metros Locations: San Francisco, Francisco, Baltimore

☆ San Francisco Hilton investor will stop making loan payments
▼ + stars: | 2023-06-06 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —Downtown San Francisco has been dealt another blow after an investor in one of its largest hotels said it would stop paying its loans. An investor presentation from Park reveals that San Francisco accounted for 16% of its business in 2019, then fell to just 3% over the past 12 months following the pandemic. The San Francisco Hotel Council told CNN affiliate KGO-TV that it’s “not uncommon for hotel ownership to change” and it expects the hotel will find new owners. Property crimes in San Francisco have garnered national attention because of several attention-grabbing videos of thieves in action. Meanwhile, violent crime statistics in San Francisco have remained relatively steady in recent years.

Persons: Thomas Baltimore , Jr, ”, It’s, Nordstrom Organizations: New, New York CNN, Downtown, Park, Resorts, Hilton San Francisco, Square, Marriott, Hyatt, San Francisco, San Francisco Hotel Council, CNN, KGO, San Francisco Police Department Locations: New York, Downtown San Francisco, Francisco, San Francisco

☆ Hotelier Writes Off San Francisco, Citing ‘Major Challenges’
▼ + stars: | 2023-06-06 | by ( Lauren Hirsch | ) www.nytimes.com time to read: +1 min

Park Hotels & Resorts, the operator of two of the most prominent hotels in San Francisco, is handing in the keys on the properties — and, in essence, giving up on a city that has fallen on hard times. Park Hotel stopped making payments on a $725 million loan tied to the Hilton Union Square and Parc 55, the real estate investment trust said on Monday. A slowing economy and a remote-work thunderclap have emptied offices across the country, with some warning of a ticking bomb in the commercial real estate market. Slammed by a wave of layoffs in the tech industry and a steep slowdown in Moscone’s conference calendar, downtown San Francisco has been hit hard. “Now more than ever, we believe San Francisco’s path to recovery remains clouded and elongated by major challenges” that will reduce demand for business and leisure travel, said Thomas J. Baltimore Jr., the chief executive of Park Hotels & Resorts.

Persons: ”, Thomas J Organizations: Resorts, Hilton Union Square, Moscone Center, Baltimore Jr, Park Hotels Locations: San Francisco

☆ A solid start to earnings season will be put to the test in the week ahead
▼ + stars: | 2023-04-29 | by ( Zev Fima | ) www.cnbc.com time to read: +14 min

The biggest week of this earnings season showed us that things aren't as bad as many feared. The week ahead of earnings, including several more Club names, should tell us more. The results are always important, but it's the guidance and management commentary we will really hone in on to better understand the path ahead. In Amazon's case, a solid first quarter for its AWS cloud business was overshadowed by management seeing a material slowdown in April. ET: Nonfarm Payrolls Looking back It was the biggest week of this earnings season for the Club as several of our mega-cap holdings and industry bellwethers reported results.

☆ Despite tough talk, Ron DeSantis can’t shake Disney’s grip on Florida
▼ + stars: | 2023-04-26 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

Although Disney has thwarted the state’s most aggressive efforts against it, Ron DeSantis has repeatedly promised he will win out in the end. In the governor’s effort to wrest control of Disney’s Orlando-area theme parks, he found that Disney’s corporate lawyers have routinely outmaneuvered him. “The question is, how much are you willing to hurt everybody else?”Legally, he says, DeSantis can’t single out Disney explicitly because retaliation against a single company is unconstitutional. To be sure, Disney’s parks division is a huge part of its business. In other words: Florida needs Disney more than Disney needs Florida.

☆ REITs are suffering big time as rates rise, but there's opportunity in the carnage
▼ + stars: | 2022-10-07 | by ( Michelle Fox | ) www.cnbc.com time to read: +6 min

Their underperformance this year can be pinned to rising interest rates, since investors who have REITS for their high dividend yields may dump the assets for risk-free Treasurys. While he had reduced his firm's exposure to REITs due to rising interest rate fears, he's now thinking about increasing that exposure. REITs typically make up 5% to 10% of his firm's 10-year plus portfolio portfolio, with the exposure currently at the lower end of that range. In this environment, companies that are less sensitive to rising interest rates should outperform, said Morningstar's Brown. "They should be less sensitive overall to interest rates movements given that most investors are not in hotel names for the dividend," Brown said.

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