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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
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September 26, 2014
14:31 EDTBDNBrandywine Realty sees 2014 adjusted FFO $1.29-$1.34
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September 22, 2014
10:02 EDTBDNHill International moves headquarters to Philadelphia
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September 18, 2014
09:02 EDTBDNBrandywine Realty and Peterson Companies to develop town center in Herndon, VA
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