Valley Restaurant, Real Estate Stocks Caught in Wall Street Selloff

Another massive selloff of stocks on Thursday caught Valley restaurant and real estate-related stocks in the downdraft. Among large publicly traded companies in the Valley region, Dine Brands Global Inc. in Glendale, the restaurant operator of the IHOP and Applebee’s chains, fell the most, losing $16.32, or 31.8 percent, to close at $35. Limoneira Co., the Santa Paula citrus grower and real estate developer, fell $3.55, or 23.6 percent, to $11.49. Other large companies with substantial losses included LTC Properties Inc., the nursing home REIT in Westlake Village, which declined 20.1 percent to $29.53; Sylmar construction firm Tutor Perini Corp, which fell 17.4 percent to $10.05; and restaurateur Cheesecake Factory Inc. in Calabasas, with a loss of 14.8 percent to $21.48. More than 25 companies in the Valley region suffered double-digit declines for the day. The Dow-Jones Industrial Average fell 10 percent to close at 21,201.