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Financial Sector Update for 11/30/2018: ABR,SLG

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Financial stocks were inching lower Friday morning, although shares of financial companies in the S&P 500 still were unchanged.

Among financial stocks moving on news:

(-) Arbor Realty Trust ( ABR ) was down nearly 4% in pre-market trading Friday morning after late Thursday pricing a $102.7 million public offering of 8.7 million common shares at $11.80 apiece, representing a 3.6% discount to Thursday's closing price for the stock. Net proceeds will be used for investments and for general corporate purposes.

In other sector news:

(+) SL Green Realty ( SLG ) inched higher pre-bell Friday after the real estate investment trust increased the company's quarterly dividend by 4.6% compared with its most recent distribution to $0.85 per share, payable on Jan. 15 to shareholders of record on Jan. 2.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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