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Stock Market & Financial Investment News

News Breaks
November 23, 2012
13:08 EDTSIRSelect Income REIT files proposed offering of 6M common shares
Select Income REIT announced that it has filed a Form S-11 with the SEC in anticipation of a proposed public offering of 6M common shares of beneficial interest. The use of proceeds for the proposed public offering is to repay amounts outstanding under SIR's revolving credit facility. Morgan Stanley will be the lead bookrunning manager for the offering.
News For SIR From The Last 14 Days
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January 16, 2015
08:05 EDTSIRSelect Income REIT declares conditional pro rata distribution
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January 14, 2015
09:05 EDTSIRSelect Income REIT says reviewing Lakewood Capital presentation
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06:44 EDTSIRLakewood Capital releases presentation on Select Income REIT with SEC
Lakewood Capital Management announced that it has filed a detailed presentation with the SEC, outlining its concerns with Select Income REIT's governance and the misalignment of incentives between the company and its manager, Reit Management & Research. Lakewood firmly believes that Lenehan's election as a Trustee would give shareholders a voice towards improving the Company's corporate governance and share price performance. As set forth in more detail in the presentation, Lakewood believes that with proper governance improvements, SIR shares could be worth $40 per share or more, representing an increase of over 50% above recent trading levels.The company said the presentation outlines "Our belief that SIR shares could be worth $40 per share or more, representing an increase of 50% above recent trading levels; How SIR's stock trades at a deep discount to its net asset value and has dramatically underperformed its peers due, we believe, to widely-held concerns around corporate governance; The misalignment of interests due to SIR's external management structure in which RMR receives fees almost entirely based off of the size of the assets of the Company, as opposed to SIR's share price performance; Several recent actions taken by the Board of Trustees that have only served to deepen investor mistrust."

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