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News in brief

April 28, 2022 at 1:39 a.m.

South Florida logs highest rent hikes

FORT LAUDERDALE, Fla. -- The South Florida region saw the highest rent increases in the country in the past year, with some rents more than doubling.

The median rent in the tri-county area jumped 57% from March 2021 to March 2022, according to the latest data from realtor.com. The region had the highest rent increases out of the 50 metro areas analysts studied, and makes South Florida's median rent more expensive than even the New York metro area.

"South Florida has benefited from broader interest in relocation. While affordability is eroding as rents rise, Florida's lack of income tax continues to make it an attractive target for households looking to relocate," said Danielle Hale, chief economist at realtor.com.

The current overall median rent in South Florida is $2,988. The current median rent for a studio rose to $2,499. It has the fourth-highest rent in the country, according to the study from realtor.com.

The Los Angeles-Long Beach-Anaheim metro area rents jumped by 20% to $3,000, and The San Francisco-Oakland-Hayward metro area rents jumped by 11.4% to $2,982. The Austin-Round Rock metro area rents jumped 25.9% overall to $1,777.

-- South Florida Sun Sentinel (TNS)

Simmons bank set to air 1Q earnings

Simmons First National Corp. is scheduled to release first quarter 2022 earnings before the stock market opens today. The bank's management team also is scheduled to hold a conference call to discuss the results at 9 a.m.

The live call can be accessed at (866)-298-7926, conference ID 3439828. The call also will be available live or in recorded version on the company's website, simmonsbank.com, for 60 days under the investor relations tab.

Simmons Bank, based in Pine Bluff, operates about 200 branches in Arkansas, Kansas, Missouri, Oklahoma, Tennessee and Texas.

Earlier this month, the bank closed on the acquisition of Spirit Bancshares of Texas, expanding its footprint in key markets across the state.

Simmons shares rose 10 cents, or 0.41% to close Wednesday at $24.62.

-- Andrew Moreau

7.89 rise puts index at 776.64 closing

The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, closed Wednesday at 776.64, up 7.89.

"Equities rallied sharply in early trading following Tuesday's losses but retraced most of their gains to close only modestly higher as investors continue to digest a steady stream of corporate earnings reports from the second quarter with the energy and materials sectors outperforming the broad market," said Leon Lants, managing director at Stephens Inc.

The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.

Print Headline: South Florida logs highest rent hikes Simmons bank set to air 1Q earnings 7.89 rise puts index at 776.64 closing

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