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Stock Market & Financial Investment News

News Breaks
February 26, 2013
11:16 EDTCWH, SIR, CUZ, BDN, GOVCommonWealth REIT advances after stakeholders say shares undervalued
CommonWealth REIT (CWH), a Real Estate Investment Trust that focuses on office and industrial properties, is surging after investors with a sizable stake demanded that it cancel a planned stock offering and said the REIT's stock was significantly undervalued. Corvex Management and Related Fund Management, which announced that investment funds managed by them collectively obtained a 9.8% stake in Commonwealth, stated several demands in a letter to the REIT. Corvex and Related called on Commonwealth in the letter to cease a debt repurchase initiative and enter into talks about increasing shareholder value over the long-term. Commonwealth's stock is significantly undervalued, and could be worth more than $50 per share if the REIT implements more effective policies, the funds said. Corvex and Related added that they would be willing to acquire all of CommonWealth's shares at a significant premium to their market value as of yesterday. In mid-morning trading, CommonWelath's stock jumped 35% to $21.45. The shares of other REITs also climbed, with Select Income REIT (SIR) rising 2.50% to $26.20, Cousin Properties (CUZ) gaining 1.4% to $9.50, Brandywine Realty (BDN) adding 1% to $13.10 and Government Properties (GOV) rising 15 to $25.00.
News For CWH;SIR;CUZ;BDN;GOV From The Last 14 Days
Check below for free stories on CWH;SIR;CUZ;BDN;GOV the last two weeks.
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July 30, 2014
10:00 EDTBDNOn The Fly: Analyst Downgrade Summary
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08:11 EDTCUZCousins Properties 18M share Spot Secondary priced at $12.45
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07:37 EDTBDNBrandywine Realty downgraded at Stifel
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06:07 EDTBDNBrandywine Realty downgraded to Hold from Buy at Stifel
July 29, 2014
17:55 EDTCUZCousins Properties agrees to acquire Fifth Third Center in NC for $215M
Subsequent to quarter end, Cousins Properties entered into an agreement to acquire Fifth Third Center, a 698,000 square foot Class A office tower located in Uptown Charlotte, North Carolina, for a gross purchase price of $215M. The company expects Fifth Third Center to be 82% leased upon closing.
17:02 EDTCUZCousins Properties reports Q2 FFO ex-items 20c, consensus 17c
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16:56 EDTCUZCousins Properties files to sell 18M shares of common stock
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09:25 EDTBDNBrandywine Realty 19M share Spot Secondary priced at $15.60
The deal size was increased to 19M shares from 18M shares and priced between the $15.45-$15.70 range. BofA/Merrill and Citigroup acted as joint book running managers for the offering.
July 28, 2014
16:11 EDTBDNBrandywine Realty files to sell 18M shares of common stock
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08:02 EDTSIRSelect Income REIT reports Q2 normalized FFO 72c, one estimate 46c
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July 24, 2014
06:01 EDTGOVGovernment Properties 13.5M share Spot Secondary priced at $23.50
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July 23, 2014
16:34 EDTBDNBrandywine Realty narrows 2014 FFO view to $1.43-$1.48 from $1.42-$1.48
Consensus for 2014 FFO is $1.45.
16:33 EDTBDNBrandywine Realty reports Q2 FFO 36c, consensus 35c
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16:06 EDTGOVGovernment Properties files to sell 12M shares of common stock
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10:02 EDTBDNOn The Fly: Analyst Initiation Summary
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05:49 EDTBDNBrandywine Realty initiated with a Neutral at Mizuho
Target $17.

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