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Stock Market & Financial Investment News

News Breaks
December 20, 2012
15:15 EDTAKRAcadia Realty Trust to sell 14 properties for $293.9M
On December 14, subsidiaries of Acadia Strategic Opportunity Fund II and Acadia Strategic Opportunity Fund III, which are subsidiaries of the registrant, Acadia Realty Trust, entered into a purchase and sale agreement with SP Holdings I, an unaffiliated entity, to sell 14 self-storage properties for an aggregate sale price of approximately $293.9M. The Funds expect to receive net proceeds of approximately $134.3M after the repayment of $147.5M of outstanding mortgage debt, payments to non-controlling interests, and closing costs. The Funds have received a deposit of $7.9M, which is non-refundable except in the event of a default (as defined in the Agreement) by the Funds. The transaction is expected to fully close within the next 60 days and may be completed in tranches, with the first, and largest, tranche being completed as early as before year-end. As this transaction remains subject to customary closing conditions, no assurance can be given as to the timing or successful completion of all or a portion of the transaction. If the entire transaction is completed, the Funds will have disposed of the entire portfolio of self-storage properties, although Fund III will retain an ownership interest in the self-storage management company that it previously acquired in connection with its ownership of the self-storage portfolio.
News For AKR From The Last 14 Days
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July 2, 2015
10:00 EDTAKROn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AT&T (T) upgraded to Outperform from Market Perform at Cowen... Acadia Realty Trust (AKR) upgraded to Buy from Neutral at Citi... Alliance Resource Partners (ARLP) upgraded to Buy from Hold at Deutsche Bank... ArcBest (ARCB) upgraded to Peer Perform from Underperform at Wolfe Research... AstraZeneca (AZN) upgraded to Buy from Hold at Berenberg... ConAgra (CAG) upgraded to Overweight from Equal Weight at Morgan Stanley... DuPont Fabros (DFT) upgraded to Buy from Neutral at Citi... EastGroup Properties (EGP) upgraded to Buy from Neutral at Citi... Galaxy Entertainment (GXYEY) upgraded to Hold from Sell at Deutsche Bank... GrubHub (GRUB) upgraded to Outperform from Sector Perform at RBC Capital... HealthSouth (HLS) upgraded to Outperform from Market Perform at JMP Securities... IGM Financial (IGIFF) upgraded to Sector Performer from Underperformer at CIBC... Kennametal (KMT) upgraded to Neutral from Underperform at BofA/Merrill... Kimco Realty (KIM) upgraded to Buy from Neutral at Citi... Kosmos (KOS) upgraded to Outperform at BMO Capital... MGM China (MCHVF) upgraded to Hold from Sell at Deutsche Bank... Regal Entertainment (RGC) upgraded to Neutral from Sell at B. Riley... SL Green Realty (SLG) upgraded to Buy from Neutral at Citi... SQM (SQM) upgraded to Buy from Hold at HSBC... Sands China (SCHYY) upgraded to Hold from Sell at Deutsche Bank... Terex (TEX) upgraded to Neutral from Underperform at BofA/Merrill... United Community Banks (UCBI) upgraded to Outperform from Market Perform at Raymond James... Weingarten Realty (WRI) upgraded to Buy from Neutral at Citi... Willis Group (WSH) upgraded to Neutral from Sell at Goldman... Wynn Macau (WYNMF) upgraded to Hold from Sell at Deutsche Bank.
07:17 EDTAKRAcadia Realty Trust upgraded to Buy from Neutral at Citi
Citi upgraded Acadia Realty Trust to Buy citing the stock's discount to net asset value and the company's growth outlook. It keeps a $34 price target for shares.

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