Markets

Financial Sector Update for 12/18/2015: HASI,JRJC,IRET

Top Financial Stocks

JPM -2.04%

BAC -1.91%

WFC -2.00%

C -2.53%

USB -2.35%

Financial stocks were broadly lower Friday, with the NYSE Financial Sector Index sinking 1.3% and the S&P Financial 100 Index retreating nearly 1.7%.

In company news, shares of Hannon Armstrong Sustainable Infrastructure Capital Inc. ( HASI ) were rising Friday after analysts at FBR Capital today began analyst coverage of the real estate investment trust with an Outperform investment rating and a $24 price target.

The move follows Hannon Armstrong late yesterday announcing an agreement with the Connecticut Green Bank providing it with up to $100 million in funding for energy efficiency, solar and other commercial-scale green energy projects.

HASI shares are up nearly 3% at $18.62 each, earlier topping out today at $19.00 a share.

In other sector news,

(+) JRJC, (+2.5%) Receives $24 mln from its investment in the Langfang real estate project, including $21.7 mln in recovered principal.

(-) IRET, (-4.1%) Reduced to Hold from Buy at Wunderlich, which also cut its price target for the stock by $1.50 to $7.50 a share.

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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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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