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In 2Q16, $UDR grew new lease rates by 4.4%, 330BP below 2Q15. Renewal growth was 6.3%, 70BP behind last year. Move-outs to home purchase were up 150BP YoverY at 14.1%. Metro DC, which represents 19% of total NOI and 14% of same store NOI, posted YoverY same store revenue growth of 1.8%. Revenue growth in Los Angeles was 5.2%.
$GOOG’s Waymo accuses Uber of stealing its intellectual property. Startup Otto, which was recently acquired by Uber, also named in the lawsuit. Stage set for another dramatic legal battle!
We all knew $VALE CEO Murilo Ferreira was going out soon, but now I hear he has no idea who will succeed him!
$JCP, another traditional retailer that just shocked us with its biggest number of store closures.