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October 10, 2013
04:55 EDTSF, SF, SF, HCN, HCN, HCN, SBRA, SBRA, SBRA, IPCM, IPCM, IPCM, MS, MS, MS, CSU, CSU, CSU, BDN, BDN, BDN, BAC, BAC, BAC, VTR, VTR, VTR, OHI, OHI, OHI, KND, KND, KND, NHI, NHI, NHI, LTC, LTC, LTCNational Investment Center to hold a conference
2013 NIC National Conference is being held in Chicago on October 9-11.
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June 25, 2015
08:42 EDTSFStifel Financial downgraded to Sell from Neutral at Goldman
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08:11 EDTIPCMIPC Healthcare acquires two practices in NY
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07:58 EDTSBRASabra Health Care 5.9M share Spot Secondary priced at $25.25
The deal size was increased to 5.9M shares from 5M shares and priced at the bottom of the $25.25-$25.65 range. Wells Fargo and JPMorgan acted as joint book running managers for the offering. For complete deal analysis visit The Fly's Syndicate section
07:48 EDTMSMorgan Stanley disregards Fed guidelines with $1B loan, NY Post reports
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07:18 EDTBDNBrandywine downgraded on lack of investor interest, lack of catalysts at Stifel
As noted earlier, Stifel downgraded Brandywine Realty to Hold from Buy. As reasons for the downgrade, the firm cited a lack of catalysts and lack of investor interest in the Philadelphia and Washington, DC office markets.
07:13 EDTMS, BACFed director says full transparency in stress testing can be 'enormous weakness'
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06:28 EDTBDNBrandywine Realty downgraded to Hold from Buy at Stifel
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June 24, 2015
19:01 EDTSBRAOn The Fly: After Hours Movers
UP AFTER EARNINGS: Herman Miller (MLHR), up 5.1%. ALSO HIGHER: Turtle Beach (HEAR), up 3.6% after partnering with AuDConnex for direct audio hearing solution. DOWN AFTER EARNINGS: Bed Bath & Beyond (BBBY), down 2.6%. ALSO LOWER: Cree (CREE), down 5.1% after lowering fourth quarter revenue outlook... Sabra Health Care (SBRA), down 2.7% after filing to sell 5M shares of common stock at a price range of $25.25-$25.65.
16:19 EDTSBRASabra Health Care 5M share Spot Secondary; price range $25.25-$25.65
Sabra Health Care's 5M share Spot Secondary is being offered in the range of $25.25-$25.65 in a deal that is expected to price before tomorrow's open. Wells Fargo and JPMorgan are acting as joint book running managers for the offering. For complete deal analysis visit The Fly's Syndicate section. TSYN on Bloomberg.
16:14 EDTSBRASabra Health Care files to sell 5M shares of common stock
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16:12 EDTSBRASabra agrees to acquire skilled nursing/transitional care portfolio for $234M
Sabra Health Care announced that it has agreed to purchase a portfolio of four transitional care facilities located in Maryland. On June 22, Sabra agreed to acquire four skilled nursing facilities that specialize in transitional care and medically complex post-surgical, ventilator and dialysis patients with a total of 678 licensed beds located in Maryland for $234M. Upon completion of the acquisition, Sabra and the current operator will enter into a triple-net master lease agreement on three of the facilities and enter into a triple-net lease agreement on the fourth facility which is encumbered by a HUD loan. Each of the master lease and the lease for the fourth facility will have an initial term of 15 years with two 10-year renewal options and annual rent escalators equal to the greater of 2.50% or CPI, but not to exceed 2.75%. The leases are collectively expected to generate annual lease revenues determined in accordance with GAAP of $24.5M and an initial yield on cash rent of 8.75%. Closing on the acquisition of three of the facilities, with an allocated purchase price of $175.2M, is expected to occur on or before June 30. The fourth facility is expected to close upon the assumption of an existing $10.8M HUD loan having an interest rate of 5.60% per annum. The closing of the acquisition of the NMS Portfolio is subject to customary conditions, including the satisfactory completion by Sabra of its due diligence and, as to the fourth facility, the HUD loan assumption. In addition to the HUD loan assumption, Sabra expects to fund the remainder of the acquisition with available cash and proceeds from their revolving credit facility. After giving effect to the completion of the NMS Portfolio acquisition, Sabra's total investments year to date for 2015 would be $406.5M, with a blended cash yield of 7.89%.
16:00 EDTBACActionable Options for Wednesday, June, 24
iPath S&P 500 VIX Short-Term Futures up 30c to 17.32 Option volume leaders: AAPL FB NFLX BAC VALE MU BABA WMB T F EBAY FCX TWTR BBRY
08:01 EDTIPCMIPC Healthcare acquires Geriatric Associates of America in Texas
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06:37 EDTBACDeutsche downgrades Citi, Goldman after share rallies
Deutsche Bank analyst Matt O'Connor recommends using the strong share performance of both Citi (C) and Goldman Sachs (GS) as on opportunity to take profits. The analyst this morning downgraded shares of both investment banks to Hold from Buy. Citi is up 21% from the lows on January 30 while Goldman is up 30% since July 1, 2014, the analyst points out. On Citi, O'Connor sees less near term upside with fixed income trading entering a seasonally weak period and core cost reductions largely over. On Goldman, the analyst sees a lack of catalysts to drive the stock meaningfully higher in the near term. His top picks among U.S. Banks are Bank of America (BAC), JPMorgan (JPM), M&T Bank (MTB) and SunTrust (STI).
June 23, 2015
16:00 EDTBACOptions Update; June 23, 2015
iPath S&P 500 VIX Short-Term Futures down 46c to 17. Option volume leaders: AAPL FB AAPL T BAC MU BTU WMB AMZN TWTR BBRY
09:36 EDTBACActive equity options trading on open
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08:56 EDTHCN, VTRCitigroup to hold a field trip
European Housing Field Trip travels throughout Europe visiting with various companies on June 23-26.
07:43 EDTLTCMitsubishi UFJ to hold a conference
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06:53 EDTMSPSAV prepares for IPO that could raise roughly $300M, Bloomberg says
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06:25 EDTBAC, SFBarclays-Stifel deal marks end of Lehman legacy, Business Insider reports
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