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Stock Market & Financial Investment News

News Breaks
January 7, 2013
09:12 EDTARCT, ORealty Income to now pay American Realty holders 35c cash and 0.2874 shares
Realty Income (O) and American Realty Capital Trust (ARCT) announced that they have signed an amendment to the previously announced definitive merger agreement between the two companies. Under the terms of the agreement as amended Realty Income will now pay ARCT stockholders a one-time cash payment of 35c per share in addition to the existing fixed exchange ratio of 0.2874 Realty Income shares for each share of ARCT common stock that they own. The additional cash consideration of 35c per share totals approximately $55.5M in additional proceeds for the ARCT stockholders, of which approximately $52.5M is being funded by Realty Income and $3.0M by AR Capital, including William M. Kahane, CEO, President and Director of ARCT, and Nicholas S. Schorsch, Chairman of the board of directors of ARCT. Realty Income also announced that upon the closing of the transaction, its board of directors intends to increase the annualized dividend to Realty Income stockholders by approximately 35c per share, to an annualized rate of $2.17 per share beginning with the February 2013 distribution. This represents a 22c increase to the original dividend increase of 13c per share that Realty Income estimated when the transaction was initially announced. In addition, based on Realty Income’s strong revenue and Adjusted Funds from Operations outlook for 2013, Realty Income announced that its board of directors intends to raise the annualized dividend by 10c per share in February 2013 even if the ARCT transaction does not close. The 35c per share estimated annualized dividend increase, expected after the close of the merger with ARCT, includes this 10c per share increase.
News For O;ARCT From The Last 14 Days
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July 23, 2015
10:00 EDTOOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: ARRIS (ARRS) initiated with a Buy at Drexel Hamilton... AVG Technologies (AVG) initiated with an Overweight at JPMorgan... Aaron's (AAN) initiated with a Hold at Cantor... Aimco (AIV) initiated with a Hold at Canaccord... American Campus (ACC) initiated with a Hold at Canaccord... Antero Midstream (AM) initiated with a Buy at DA Davidson... Cheniere Energy Partners LP (CQP) initiated with a Buy at DA Davidson... CommScope (COMM) initiated with a Buy at Drexel Hamilton... Digirad Corp (DRAD) initiated with a Buy at B. Riley... Dominion Midstream (DM) initiated with a Buy at DA Davidson... Education Realty (EDR) initiated with a Buy at Canaccord... Enterprise Products (EPD) initiated with a Buy at DA Davidson... Essex Property Trust (ESS) initiated with a Hold at Canaccord... Extra Space Storage (EXR) initiated with an Outperform at Baird... Harmonic (HLIT) initiated with a Hold at Drexel Hamilton... Imprimis (IMMY) initiated with a Buy at Sterne Agee CRT... National Retail Properties (NNN) initiated with a Neutral at DA Davidson... Nutrisystem (NTRI) initiated with a Buy at Lake Street... PLC Systems Inc (PLC) initiated with a Buy at Sterne Agee CRT... PayPal (PYPL) initiated with a Neutral at UBS... Preferred Apartment (APTS) initiated with a Buy at Canaccord... Public Storage (PSA) initiated with a Neutral at Baird... Realty Income (O) initiated with a Neutral at DA Davidson... RingCentral (RNG) initiated with an Overweight at JPMorgan... SeaChange (SEAC) initiated with a Hold at Drexel Hamilton... Sovran Self Storage (SSS) initiated with an Outperform at Baird... Spectra Energy Partners (SEP) initiated with a Buy at DA Davidson... U-Store It Trust (YSI) initiated with an Outperform at Baird... Whitestone REIT (WSR) initiated with an Outperform at Baird... eBay (EBAY) initiated with an Equal Weight at Morgan Stanley.
06:41 EDTORealty Income initiated with a Neutral at DA Davidson
Target $50.

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