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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 15, 2014
16:26 EDTCWHCorvex lowers stake in CommonWealth REIT to 5.7% from 8.8%
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July 14, 2014
10:00 EDTCWHOptions with decreasing implied volatility: SHPG INFY CWH FDO IDIX FAST
05:49 EDTCWHStocks with implied volatility movement; BBBY CWH
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July 11, 2014
11:19 EDTCWHOptions with decreasing implied volatility: BDSI CWH INFY MONT
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July 10, 2014
14:08 EDTCUZInvesco Ltd. reports 10.4% passive stake in Cousins Properties
10:05 EDTCWHOn The Fly: Analyst Upgrade Summary
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08:39 EDTGOV, SIR, CWHGovernment Properties stake in SIR viewed negatively at Wells Fargo
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06:37 EDTCWH, SIR, GOVCommonWealth sells stake in Select Income REIT for $31.51 per share
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06:36 EDTCWHCommonWealth REIT upgraded to Buy from Hold at Stifel
Stifel upgraded CommonWealth (CWH) to Buy following the sale of its stake in Select Income REIT (SIR) for $705M. The analyst said the sale will allow the company to pay down its $735M outstanding term loan revolver and views the new CFO announcement as a positive. Price target is $28.50.
July 9, 2014
18:50 EDTGOV, SIROn The Fly: After Hours Movers
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