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HCP Acquires Assets - Analyst Blog
Tuesday, December 14, 2010 - 11:30am | 533HCP Inc. (HCP), the largest medical real estate investment trust (REIT) in the U.S., has recently acquired the real estate assets of HCR ManorCare Inc., a leading privately owned provider of skilled nursing facilities, for $6.1 billion. Spanning across 30 states, the properties are primarily...
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News Summary
Tuesday, December 14, 2010 - 10:35am | 183The dollar recovered some its losses while the Treasury prices dropped further after retail sales and producer prices data. The November US retail sales gained 0.8% with producer prices showing a 0.8% rise. Yields on 10-year notes gained about 0.76%. The dollar index (DXY) lost about 0.03%. Against...
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Jefferies: HCP Real Estate Acquisition Could Be 5-10% Accretive To Estimates
Tuesday, December 14, 2010 - 10:25am | 118Based on its own preliminary analysis, Jefferies estimates that the HCP, Inc. (NYSE: HCP) deal could be “5-10% accretive to our 2011 and 2012 FFO/sh estimates.” “Our analysis assumes that: 1) the deal is closed at the end 1Q11; 2) the $3.3B bridge loan is financed at 5.5%; and 3) an additional 6M...
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Jefferies Revises SNH Estimates
Tuesday, December 14, 2010 - 10:19am | 96Jefferies is revising its Senior Housing Properties (NYSE: SNH) 2010, 2011, and 2012 FFO/sh estimates to $1.69, $1.78, and $1.95, from $1.71, $1.84, and $1.98, respectively. “Our adjustments primarily reflect earlier-than-expected dilution from the recent equity raise (14.375M shares), as we had...
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Game-Changing Deal For HCP/Horizon Bay, Morgan Keegan Reports
Tuesday, December 14, 2010 - 10:16am | 100HCP, Inc. (NYSE: HCP) is acquiring the remaining 65% interest in a joint venture that owns 25 senior housing assets operated by Horizon Bay. Morgan Keegan believes this could be a game-changer. “HCP's incremental cash investment of $137 million will consolidate the facilities, which generated...
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Ashford Hospitality Trust Prices its Stock Offering at $9.65
Tuesday, December 14, 2010 - 10:07am | 69Ashford Hospitality Trust, Inc. (NYSE: AHT) today announced that it priced its underwritten public offering of 7.5 million shares of its common stock at a price to the public of $9.65 per share. Ashford granted the underwriter a 30-day option to purchase up to an additional 1.125 million shares to...
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HCP to Offer 31,000,000 Shares (HCP)
Tuesday, December 14, 2010 - 8:59am | 230HCP (NYSE: HCP) announced that it has commenced an offer to issue 31,000,000 shares of its common stock. HCP intends to grant the underwriters an option for 30 days to purchase up to 4,650,000 additional shares of common stock. HCP anticipates that the net proceeds of this offering will be used,...
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US Stock Futures Up As Investors Await Retail-Sales Data And FOMC Decision
Tuesday, December 14, 2010 - 8:06am | 240US stock futures are slightly higher this morning as investors are awaiting the key retail-sales data as well as the US Federal Open Market Committee's (FOMC) decision on monetary policy. Futures for the Dow Jones Industrial Average gained 16 points to 11,382, while the S&P 500 index futures...
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HCP Acquires Partner's Interest in $860 Million JV
Monday, December 13, 2010 - 5:47pm | 119HCP (NYSE: HCP) announced that it has signed a definitive agreement to acquire its partner's 65% interest in a joint venture that owns 25 senior housing assets. Upon closing, HCP will become the sole owner of the portfolio. The assets were originally acquired on October 5, 2006, through HCP's...
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Ashford Hospitality Trust Announces Offering of 7.5 Million Shares
Monday, December 13, 2010 - 5:04pm | 103Ashford Hospitality Trust, Inc. (NYSE: AHT) today announced that it commenced an underwritten public offering of 7.5 million shares of its common stock. Deutsche Bank Securities Inc. is acting as the sole book-running manager for the offering. Ashford intends to use the net proceeds to repay a...
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InnSuites Hospitality Trust Reports Third Quarter EPS of $(0.08)
Monday, December 13, 2010 - 1:30pm | 146InnSuites Hospitality Trust (NYSE: IHT) Highlights For the three months ended October 31, 2010, the Trust reported an operating loss of $(493,000), a decline of $102,000 from the prior year period operating loss of $(391,000). The Trust also reported a net loss attributable to...
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Duke Realty Sells New York Asset - Analyst Blog
Monday, December 13, 2010 - 10:33am | 511Duke Realty Corp. (DRE), a real estate investment trust (REIT), recently sold the BlueCross BlueShield of Western New York headquarter building in downtown Buffalo, New York, for an undisclosed amount. The asset was sold to Cole Real Estate Investments, a Phoenix-based investment group that...
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Credit Suisse Downgrades Public Storage From Neutral To Outperform
Monday, December 13, 2010 - 10:14am | 43Credit Suisse is downgrading Public Storage (NYSE: PSA) to Neutral from Outperform “as we believe REITs with greater financial and operating leverage could make up ground on the defensive stock.” Public Storage closed Friday at $100.40.
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Duke Realty Sells New York Asset - Analyst Blog
Monday, December 13, 2010 - 9:43am | 511Duke Realty Corp. (DRE), a real estate investment trust (REIT), recently sold the BlueCross BlueShield of Western New York headquarter building in downtown Buffalo, New York, for an undisclosed amount. The asset was sold to Cole Real Estate Investments, a Phoenix-based investment group that...
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New Analysis from Phase 2b Study (ALTH)
Friday, December 10, 2010 - 4:15pm | 886Allos Therapeutics, Inc. (NASDAQ: ALTH) today announced the presentation of further data from the Company's randomized, international Phase 2b investigational study of FOLOTYN® (pralatrexate injection) relative to erlotinib in patients with Stage IIIB/IV (advanced) non-small cell lung cancer (NSCLC...