The yield on the 10-year Treasury bond has continued to contract after slipping to 0.758% today. In the meantime, it seems that Japanese life insurance companies are coming back to the domestic bond market as yield gaps between them and foreign rivals narrow as a result of the coronavirus pandemic. Fundamental analysis: The pandemic sends shares and yields lower U.S. Treasury yields are headed lower today on increased risks related to the spikes in new coronavirus cases. “Treasuries bull flattened further overnight as global risk assets came under pressure on renewed lockdown momentum in Europe,” Ian Lyngen, BMO’s head of U.S. rates, said in a note Wednesday. “The implications from a resurgence of the pandemic as winter approaches will guide domestic equities in the medium term.” Elsewhere, the Japanese life insurers are intending to include more domestic fixed-income assets in their portfolios while attempting to drop those of external debt in the second half of this fiscal year through March, said officials. “We have long been investing primarily in U.S. dollar bonds but now that their yields have fallen to so low, we are not in a position to buy them aggressively anymore,” said Koichi Nakano, general manager for investment
RealPage, Inc. (NASDAQ:RP), a leading global provider of software and data analytics to the real estate industry, today announced the launch of CommunityConnect, an integrated, managed service that will vastly accelerate deployment of smart access, smart apartment devices and community-wide ultra-high speed Wi-Fi connections in the multifamily industry.
What is CommunityConnect?
CommunityConnect is a one-stop shop for community-wide smart access to buildings and units, smart devices, and ultra-high-speed community-wide Wi-Fi. Each of these offerings is available stand-alone or in combination with the others as part of a fully managed RealPage® solution set. RealPage and its network of partners will perform and manage the design, engineering, procurement, installation and operations of all aspects of the solution, which are accessible through a single smartphone app.
This single app solution and the integration of hundreds of partners was enhanced by the recent acquisition of STRATIS IoT, which delivers smart buildings and "connected communities.” The name of the STRATIS resident app will become the "CommunityConnect App” and is part of the CommunityConnect family of solutions from RealPage. To see the App in action, link to https://www.realpage.com/videos/communityconnect-app/.
The CommunityConnect App is connected to a central communication hub for each community that monitors the performance of every device in the building 24x7 and takes calls from residents or property staff if there is an outage. The CommunityConnect App enables renters to be instantly provisioned to access community and unit locks, smart devices and secure personal Wi-Fi networks anywhere on the property. The CommunityConnect App is licensed to the property owner on a per unit per month basis with affordable subscription fees tied to which CommunityConnect solutions are deployed and the number of smart devices activated in each community.
CommunityConnect is Positioned to Stimulate Rapid Adoption:
Integrated Smart Access from Sidewalk to Sofa™ unlocks revenue potential worth several hundred dollars per unit per year and corresponding operating cost savings by enabling fobless and keyless site access. Integrating access to gates, buildings, corridors and units is now affordable for less than $300 per door in capital costs, with paybacks in under 18 months in most communities.
Smart Apartment Devices, like smart water meters, thermostats, lights, leak detectors and Google® and Amazon® voice assistants were expensive and did not integrate with each other. Now, prices have dropped and we have the ability to integrate disparate devices into a single resident access point. Working together, these devices can be used to significantly reduce property costs and improve the resident experience. For example, resident utility costs are a sizable expense for renters. If your sustainable apartments reduce energy and water costs by a few hundred dollars per unit per year compared to your competitor, this is a differentiator that will benefit you and your renters in real dollar savings, and renters will value the increased sustainability of your community.
RealPage Community-Wide High-Speed Internet Access (HSIA) solution provides far more than Internet access for residents in their units. Traditional single-family broadband solutions deployed in most apartment buildings today are costly to the resident and are frequently limited to in-unit Wi-Fi. Our managed HSIA solution, offering wired and wireless speeds up to 1Gbps throughout a community, is a cost-effective alternative that provides a personal area network for each resident, a guest network for non-residents, access for on-site leasing managers and maintenance, and can serve as the backbone for your smart community solutions. It enables a community-wide connected lifestyle that enriches the resident experience and can lower resident Internet costs currently paid to cable or phone companies, making your apartment more competitive. It also gives the owner opportunities to reduce expenses and add higher revenue shares from the sale of bulk Wi-Fi. With sub-18-month returns on investment, a managed HSIA solution can support almost every on-site technology solution available today.
Smart and connected communities will become a requirement for many residents who are working at home more and expect the same convenience at home that they enjoy at the office. Apartments that are not smart and not connected will be at a competitive disadvantage to a larger and larger segment of renters, so our expectation is that tens of thousands of apartment buildings will retrofit their apartments to support all aspects of smart technology over the next few years. To see CommunityConnect in action, link to https://www.realpage.com/videos/communityconnect/.
With CommunityConnect, RealPage is now one of the largest integrators of smart apartments in the U.S. with over 600,000 smart apartments deployed through its Resident Technology Services and STRATIS IoT divisions. RealPage will unveil the new CommunityConnect solution—and showcase how the STRATIS acquisition complements it—at REALWORLD2020, Tuesday, September 15 at 10:00 am CDT.
RealPage provides a technology platform that enables real estate owners and managers to change how people experience and use rental space. Clients use the platform to gain transparency in asset performance, leverage data insights and monetize space to create incremental yields. Founded in 1998 and headquartered in Richardson, Texas, RealPage currently serves approximately 19 million units worldwide from offices in North America, Europe and Asia. For more information about RealPage, please visit https://www.RealPage.com.
About STRATIS IoT
STRATIS creates smart apartments and intelligent buildings and is the only platform of its kind built for the complexities of multifamily and student housing. STRATIS is installed in over 380,000 units across the U.S., Japan, the UK, EU and Latin America. STRATIS now serves hospitality, retail and small to mid-size commercial, as well. STRATIS is a 3x Inc. 5000 "Fastest Growing Company in America” and a Top Ten Entrepreneur 360 "Best Company in America.” To get more information, visit STRATISIoT.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200914005635/en/
Portman Ridge Finance Corporation (Nasdaq: PTMN) (the "Company”), a business development company, today announced that it has entered into a Rule 10b5-1 stock trading plan to facilitate the repurchase of shares of its common stock in accordance with its $10 million share repurchase program previously announced on March 9, 2020. An independent U.S. broker-dealer is acting as the Company’s agent to purchase its shares on pre-arranged terms pursuant to the Rule 10b5-1 plan during a period beginning on August 31, 2020 and ending on March 5, 2020.
Repurchases may be made in the open market at prevailing market prices from time to time as market conditions warrant. All repurchases will be implemented in accordance with the applicable requirements of Rules 10b5-1 and 10b-18 under the U.S. Securities Exchange Act of 1934.
About Portman Ridge Finance Corporation
Portman Ridge Finance Corporation (NASDAQ: PTMN) is a publicly traded, externally managed investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940. Portman Ridge Finance Corporation’s middle market investment business originates, structures, finances and manages a portfolio of term loans, mezzanine investments and selected equity securities in middle market companies. PTMN’s investment activities are managed by its investment adviser, Sierra Crest Investment Management LLC, an affiliate of BC Partners Advisors, LP.
Portman Ridge Finance Corporation's filings with the Securities and Exchange Commission (the "SEC”), earnings releases, press releases and other financial, operational and governance information are available on the Company's website at www.portmanridge.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements regarding repurchases of shares of the Company’s common stock. There is no assurance that repurchases will be made in any specific amounts or that the market price of the Company’s shares, either absolutely or relative to net asset value, will increase as a result of any share repurchases, or that any repurchases will enhance stockholder value over the long term. The forward-looking statements should be read in conjunction with the risks and uncertainties discussed in the Company’s filings with the SEC, including the Company’s most recent Form 10-K and other SEC filings.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200831005387/en/