It was a turbulent year for local stocks
Just ask
In a year in which the Dow Jones Industrial Average began on a note so high a soprano would be jealous -- a record 26,149 points -- the stock markets later were disrupted by detrimental trade issues and volatile political winds.
By
By default,
Out of 17 publicly traded companies in the
Its stock began the year at
The only other company with a positive return on investment was
But Croghan's positive return was due to its
Excluding
Made with Flourish
"It was a good year to be a REIT," said
"If you think about the performance of our stock, some if it is just primarily market driven. But our stock bottomed out the day before the announced acquisition,"
"From there we outperformed our peers and had a fantastic last six to seven months of the year," he added.
Essentially, three distinct companies each with something vital to offer came together to create a health-care model that as a whole was greater than the sum of the individual parts, the executive said.
"One of the things that ... our CEO has said since he stepped in is we're going to be a prominent force in helping health-care systems as they continue to evolve their delivery mechanism,"
In the ManorCare deal,
"What we've been saying for a while is it makes sense for the health systems in the country to use their capital more to invest in their system. And have companies like
Investors responded favorably to the move with
Three metro
Banking stocks other than Croghan also were in negative territory.
Despite a two-for-one stock split in July,
Overall, an individual who purchased one share of each of the 17 firms at the start of the year would have paid
On a positive note, that investor would have received
While 2018 ranks as one of the poorest showings by the region's publicly traded companies in many years, it wasn't totally unexpected or isolated.
The Dow Jones Industrial average finished 2018 down 5.6 percent, the S&P 500 Price Index ended the year down 6.2 percent, and the Nasdaq market ended down 3.9 percent.
The Dow experienced significant gyrations during the year, losing 2,000 points
During the year the Fed raised interest rates four times,
Many of the companies in the area finished 2017 at high prices and while they experienced a sharp drop in share prices, they ended 2018 close to where they began 2017.
"You look at interest rates, slow loan growth, and that kind of explains the banks," said
"With [
"
The housing sector started the year strong, but in the second quarter some analysts began issuing warnings that OC could be facing a slowdown in the roofing segment. From March on the company's share price began to drop steadily.
Recently it became clear that OC was hit by higher material and transportation costs, and its roofing sales over the final three quarters of 2018 declined 2 percent over that time. The drop was mainly lower sales of shingles particularly in certain geographical areas.
"When money comes out of the market, it will usually come out of stocks that are most cyclical. Unfortunately, northwest
"These highly cyclical companies, if there was any doubt about their earnings, that just crushed their stocks."
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