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February 26, 2013
11:16 EDTBDN, CWH, CUZ, GOV, SIRCommonWealth 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
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April 22, 2015
16:21 EDTBDNBrandywine Realty narrows FY15 FFO view to $1.40-$1.46, consensus $1.44
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16:20 EDTBDNBrandywine Realty reports Q1 FFO 32c, consensus 32c
Reports Q1 revenue $150.4M, consensus $146.14M.
15:30 EDTBDNNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include eBay (EBAY), consensus 70c... Facebook (FB), consensus 40c... Texas Instruments (TXN), consensus 62c... Las Vegas Sands (LVS), consensus 72c... Qualcomm (QCOM), consensus $1.33... AT&T (T), consensus 62c... F5 Networks (FFIV), consensus $1.50... Plexus (PLXS), consensus 69c... Skechers (SKX), consensus $1.01... Select Comfort (SCSS), consensus 41c... Tractor Supply (TSCO), consensus 41c... Covanta (CVA), consensus (8c)... Crown Castle (CCI), consensus $1.09... Torchmark (TMK), consensus $1.05... Ameriprise (AMP), consensus $2.33... Polycom (PLCM), consensus 21c... Citrix (CTXS), consensus 65c... Core Laboratories (CLB), consensus 85c... Graco (GGG), consensus 78c... Cheesecake Factory (CAKE), consensus 48c... Equifax (EFX), consensus $1.02... SLM (SLM), consensus 7c... Xilinx (XLNX), consensus 50c... O'Reilly Automotive (ORLY), consensus $1.94... Susquehanna (SUSQ), consensus 18c... Raymond James (RJF), consensus 83c... SL Green Realty (SLG), consensus $1.49... CoreLogic (CLGX), consensus 31c... Oceaneering (OII), consensus 62c... Valmont (VMI), consensus $1.49... Brandywine Realty (BDN), consensus 32c... Weatherford (WFT), consensus 1c.

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