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Stock Market & Financial Investment News

News Breaks
June 16, 2014
17:03 EDTWPGWashington Prime Group to acquire partners interest in property portfolio
Washington Prime Group announced that it has entered into a definitive agreement to acquire its partner's interest in a portfolio of seven open-air shopping centers. The transaction is expected to close later this week. Previously, Washington Prime held between 32%-42% legal ownership interests in the properties, but received substantially less economic benefit due to the partner's preferred capital allocation. With this transaction, Washington Prime will own 100% of four properties and approximately 88.3% of the remaining three. The purchase price for the properties totaled approximately $162M plus the assumption of an additional $83.8M in mortgage debt. The portfolio of properties totals over 2.1M square feet and is approximately 96% occupied. Four of the centers are located in Florida, and one each in Indiana, Connecticut and Virginia. Also included in this transaction is land valued at approximately $4M.
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July 22, 2014
10:00 EDTWPGOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Abengoa Yield (ABY) initiated with an Equal Weight at Morgan Stanley... Actinium Pharmaceuticals (ATNM) initiated with a Buy at Canaccord... Axys Technologies (AXYS) initiated with a Buy at Dougherty... Chambers Street Properties (CSG) initiated with a Neutral at SunTrust... Enphase Energy (ENPH) initiated with a Buy at Dougherty... Minerals Technologies (MTX) initiated with an Outperform at Wedbush... NextEra Energy Partners (NEP) initiated with a Buy at BofA/Merrill... PTC Therapeutics (PTCT) initiated with a Buy at BofA/Merrill... QIWI (QIWI) initiated with a Positive at Susquehanna... Quality Systems (QSII) initiated with a Buy at Topeka... Sarepta (SRPT) initiated with a Neutral at BofA/Merrill... Trinseo S.A. (TSE) initiated with a Buy at BofA/Merrill... Washington Prime Group (WPG) initiated with a Neutral at SunTrust... Zhaopin (ZPIN) initiated with a Buy at UBS.
July 21, 2014
19:20 EDTWPGWashington Prime Group initiated with a Neutral at SunTrust
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