The Real Deal Miami

Equity One cools purchase ardor

August 05, 2009 09:32AM

Shopping center investor Equity One is putting plans for an acquisition spree on the back burner. The company instead will try to improve revenue from its existing portfolio and cut its debt. Its earnings dropped to 18 cents a share for the second quarter, down from 40 cents a share a year ago. Executives said capital markets remained tight and discouraged a major buying program.