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Stock Market & Financial Investment News

News Breaks
June 4, 2014
08:09 EDTSNH, EGP, BXP, AVIV, PLD, HME, DRE, AAT, SIR, ESS, CCI, AVBMorgan Stanley NAREIT REITWeek Meetings
Meetings held with various companies, in conjunction with the NAREIT REIT Conference, will be held in New York on June 3-4
News For AVIV;AVB;AAT;BXP;CCI;DRE;EGP;ESS;HME;SNH;SIR;PLD From The Last 14 Days
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May 21, 2015
09:24 EDTESSEssex Property Trust 250K share Secondary priced at $222.65
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May 20, 2015
17:03 EDTESSEssex Property Trust files to sell 250,000 shares of common stock
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May 19, 2015
10:48 EDTESSCredit Suisse to hold property tours
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May 14, 2015
08:50 EDTESS, AAT, AVB, BXPBofA/Merrill U.S. REITs analyst holds an analyst/industry conference call
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08:34 EDTCCICrown Castle to sell Australian subsidiary for about $1.6B in cash
Crown Castle International announced that it has signed a definitive agreement to sell its Australian subsidiary, CCAL, to a consortium of investors led by Macquarie Infrastructure and Real Assets for an aggregate purchase price of approximately $2.B in cash, or approximately $1.6B assuming an exchange rate of 0.80 U.S. dollars to 1.0 Australian dollar. CCAL is 77.6% owned by Crown Castle. Upon consummation of the Transaction, Crown Castle expects to receive net proceeds of approximately $1.3B after accounting for its ownership interest, repayment of intercompany debt owed to it by CCAL and estimated transaction fees and expenses. The Transaction is expected to close during Q2. Crown Castle expects to use the net proceeds from the Transaction to finance its previously announced acquisition of Sunesys and for general corporate purposes, including the repayment of certain of its indebtedness. CCAL was expected to contribute approximately $97M-$102M to Crown Castle's previously provided full year 2015 Outlook for Adjusted EBITDA of $2.15B-$2.16B. Further, CCAL was expected to contribute approximately $58M-$63M to Crown Castle’s previously provided FY15 Outlook for Adjusted Funds from Operations of $1.45B-$1.47B, respectively.
May 13, 2015
12:42 EDTCCIAnalyst bullish on tower companies after meeting with American Tower
American Tower's (AMT) outlook has improved, and it should report strong 2016 results, research firm Pacific Crest wrote in a note to investors earlier today. American Tower owns towers used by cell phone carriers. WHAT'S NEW: After hosting a non-deal roadshow with American Tower, Pacific Crest analyst Michael Bowen said he had an "increasingly positive outlook" on the company in particular and the cell phone tower sector in general. Carrier tower applications rose last quarter, versus the second half of 2014, Bowen quoted American Tower and its peers as saying. This increase appears to bode well for the sector's performance in the second half of 2015 and 2016, according to Bowen, who expects American Tower to have strong 2016 results. The analyst predicts that American Tower's adjusted funds from operations, or AFFO, will increase about 9% in 2015 and 10.6% in 2016. However, the company estimated that its AFFO growth "could approach" mid-teen percentage levels if it decides not to acquire any more towers, according to Bowen. Additionally, American Tower reported that it believes it can eventually more than double the nearly 18,000 towers it owns in Brazil, Bowen reported. The analyst recommended that investors buy the stock. PRICE ACTION: In early afternoon trading, American Tower was flat at $93.56. Other tower owners were also little changed, as Crown Castle (CCI) was flat at $83, and SBA Communications (SBAC) added 0.7% to $116.21.
May 12, 2015
09:08 EDTAVBEvercore ISI to hold a field trip
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May 8, 2015
10:01 EDTESSOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Aerie Pharmaceuticals (AERI) upgraded to Buy from Hold at Cantor... Alcatel-Lucent (ALU) upgraded to Buy from Hold at Societe Generale... Alibaba (BABA) upgraded to Buy from Neutral at Goldman... CME Group (CME) upgraded to Buy from Hold at Evercore ISI... Choice Hotels (CHH) upgraded to Buy from Underperform at BofA/Merrill... Coach (COH) upgraded to Buy from Hold at HSBC... Commerzbank (CRZBY) upgraded to Buy from Hold at Deutsche Bank... Consolidated Communications (CNSL) upgraded to Buy from Hold at Drexel Hamilton... Cutera (CUTR) upgraded to Overweight from Neutral at Piper Jaffray... EarthLink (ELNK) upgraded to Hold from Underperform at Jefferies... Enable Midstream (ENBL) upgraded to Outperform from Neutral at Credit Suisse... Ericsson (ERIC) upgraded to Buy from Neutral at UBS... Essex Property Trust (ESS) upgraded to Outperform from Neutral at Baird... Forest City (FCE.A) upgraded to Buy from Neutral at Citigroup... General Growth (GGP) upgraded on operational, growth outlook at RBC Capital... Globe Specialty Metals (GSM) upgraded to Overweight from Neutral at JPMorgan... HNI Corporation (HNI) upgraded to Outperform from Market Perform at Raymond James... Invesco Mortgage (IVR) upgraded to Outperform from Market Perform at Keefe Bruyette... Lennar (LEN) upgraded to Overweight from Equal Weight at Barclays... Marathon Oil (MRO) upgraded to Outperform from Market Perform at Wells Fargo... Mercer (MERC) upgraded to Outperform from Neutral at Macquarie... Nokia (NOK) upgraded to Buy from Neutral at UBS... Nuance (NUAN) upgraded to Buy from Hold at Craig-Hallum... Pattern Energy (PEGI) upgraded to Buy from Hold at Desjardins... PennantPark (PNNT) upgraded to Outperform from Market Perform at FBR Capital... Philip Morris (PM) upgraded to Neutral from Sell at Goldman... Rayonier (RYN) upgraded to Buy from Neutral at DA Davidson... Rosetta Resources (ROSE) upgraded to Hold from Reduce at KLR Group... Telekom Indonesia (TLK) upgraded to Buy from Neutral at Citigroup... Wisconsin Energy (WEC) upgraded to Hold from Sell at Evercore ISI.
07:28 EDTESSEssex Property Trust upgraded to Outperform at Baird
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06:29 EDTESSEssex Property Trust upgraded to Outperform from Neutral at Baird
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