Dollar near 2-month high as investors look to more data, U.S. political developments

By Hideyuki Sano

TOKYO, Sept 28 (Reuters)The dollar hovered near a two-month peak against at a basket of currencies on Monday as investors look to a barrage of upcoming economic data and political developments in the United States before making any fresh bets on the U.S. currency.

While a rebound in U.S. stocks on Friday has helped to curb the ascent of the dollar, deemed as a safe-haven, signs of slowdown in the nascent economic recovery and political uncertainties have kept investors on guard.

The dollar index stood at 95.544 =USD. Last week it hit a two-month high of 94.745 last week and posted its biggest weekly rise since early April.

The euro changed hands at $1.1635 EUR=, having dropped to $1.16125 on Friday to its lowest level in two months.

The British pound stood at $1.2767 GBP=D4, slightly above Wednesday’s two-month low of

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Increased Consumer Spending in Whitestone’s High Household Income Neighborhoods Lead to Lease Extensions with Two Essential Grocery Anchors

HOUSTON, Sept. 01, 2020 (GLOBE NEWSWIRE) — Whitestone REIT (NYSE: WSR)  announced today that Safeway has exercised its option to extend the lease term on two existing leases in Whitestone’s Phoenix market.  The two leases aggregate to 102,521 square feet, or approximately 2.1% of Whitestone’s gross leasable area.

Jim Mastandrea, Chairman and CEO of Whitestone REIT commented, “We are pleased to announce these term extensions but were not surprised given the high household income markets we have strategically chosen to be in. The significant repeat foot traffic that our centers draw entice businesses to want to be a part of our centers and underscore the importance they play in our neighborhoods during these trying times. Having essential businesses like a well-respected grocer such as Safeway recognize the value of our high-quality properties and want to be a part of the communities we support proves our resiliency.”  Mr. Mastandrea

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Badger Meter: Impressive Dividend Growth, But Valuation Is Too High (NYSE:BMI)

Though the recession crimped some end-markets of Badger Meter, Inc. (NYSE:BMI) and took a toll on its top line, in August, the company increased the quarterly DPS by 5.9%. So, it appears that even a harsh crisis cannot shatter the dividend growth story of BMI, a company that has been increasing the dividend consistently for 28 years. Unfortunately, due to its mid-cap size, it is not a dividend aristocrat, as to qualify for this upper-echelon status, it must be a constituent of the S&P 500.

I am fairly impressed with BMI’s dividend consistency, copious operating and free cash flows, and almost bulletproof balance sheet. But the essential concern that hinders me from giving the stock the bullish rating is its lofty valuation, which noticeably deviates from the five-year averages. Another issue is that the ~1.1% dividend yield does not match my investment preferences.

The top line: navigating the recession


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