ð° #REIT Headlines - January 9, 2024 ð¢ Realty Income Corporation (O): Successfully Priced $1.25 Billion Notes Offering * O priced $450 million of 4.75% notes due 2029 and $800 million of 5.125% notes due 2034. * Net proceeds allocated for general corporate purposes, debt repayment, and potential acquisitions. ð Regency Centers (REG): Raises $400 Million Through Senior Unsecured Notes * REG priced $400 million of 5.25% senior unsecured notes due 2034. * Funds intended for reducing credit line balance and general corporate purposes. ð Federal Realty Investment Trust (FRT): Operating Partnership Announces Upsized Offering * FRT's operating partnership priced an upsized offering of $425 million exchangeable senior notes due 2029. * Net proceeds designated for capped call transactions, debt repayment, and general corporate use. ð° Acadia Realty Trust (AKR): Completes Upsized Common Share Offering * AKR priced an upsized offering of 6.9 million common shares, raising $115.575 million. * Net proceeds allocated for general corporate purposes and potential acquisitions. ð« Empire State Realty Trust (ESRT): Welcomes Ghirardelli Chocolate Company * ESRT announces Ghirardelli Chocolate Company opening a retail space at the base of the Empire State Building. ðï¸ LTC Properties, Inc. (NYSE: LTC): Successfully Completes Brookdale Senior Living Portfolio Transactions * LTC completes process involving its 35-property Brookdale Senior Living portfolio ensuring revenue replacement. ð¼ Healthcare Realty (HR): Records $338 Million Asset Sales in Q4 2023 * HR completes $338 million in asset sales during Q4 2023, with full-year dispositions totaling $656 million. ð¡ CareTrust REIT (CTRE): Acquires The Villas at San Bernardino * CTRE acquires a 78-unit assisted living and memory care facility in San Bernardino, CA. ð Gladstone Commercial Corporation (GOOD): Quarterly Business Update - Portfolio Occupancy at 96.8% * GOOD announces a portfolio occupancy rate of 96.8% as of December 31, 2023. ð Terreno Realty Corporation (TRNO): Acquires Industrial Property in Bellevue, WA * TRNO announces the acquisition of an industrial property in Bellevue, WA, for $6.5 million. ð¢ Vornado Realty Trust (VNO): Cushman & Wakefield Named Exclusive Leasing Agent for PENN 2 * VNO appoints Cushman & Wakefield as exclusive leasing agent for its PENN 2 office tower. ð Stay informed with the latest REIT updates with The Daily REIT Beat Newsletter and learn more at www.thedailyreitbeat.com! #RealEstate #REITs #InvestingNews ð ð
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ð° #REIT Headlines - January 9, 2024 ð¢ Realty Income Corporation (O): Successfully Priced $1.25 Billion Notes Offering * O priced $450 million of 4.75% notes due 2029 and $800 million of 5.125% notes due 2034. * Net proceeds allocated for general corporate purposes, debt repayment, and potential acquisitions. ð Regency Centers (REG): Raises $400 Million Through Senior Unsecured Notes * REG priced $400 million of 5.25% senior unsecured notes due 2034. * Funds intended for reducing credit line balance and general corporate purposes. ð Federal Realty Investment Trust (FRT): Operating Partnership Announces Upsized Offering * FRT's operating partnership priced an upsized offering of $425 million exchangeable senior notes due 2029. * Net proceeds designated for capped call transactions, debt repayment, and general corporate use. ð° Acadia Realty Trust (AKR): Completes Upsized Common Share Offering * AKR priced an upsized offering of 6.9 million common shares, raising $115.575 million. * Net proceeds allocated for general corporate purposes and potential acquisitions. ð« Empire State Realty Trust (ESRT): Welcomes Ghirardelli Chocolate Company * ESRT announces Ghirardelli Chocolate Company opening a retail space at the base of the Empire State Building. ðï¸ LTC Properties, Inc. (NYSE: LTC): Successfully Completes Brookdale Senior Living Portfolio Transactions * LTC completes process involving its 35-property Brookdale Senior Living portfolio ensuring revenue replacement. ð¼ Healthcare Realty (HR): Records $338 Million Asset Sales in Q4 2023 * HR completes $338 million in asset sales during Q4 2023, with full-year dispositions totaling $656 million. ð¡ CareTrust REIT (CTRE): Acquires The Villas at San Bernardino * CTRE acquires a 78-unit assisted living and memory care facility in San Bernardino, CA. ð Gladstone Commercial Corporation (GOOD): Quarterly Business Update - Portfolio Occupancy at 96.8% * GOOD announces a portfolio occupancy rate of 96.8% as of December 31, 2023. ð Terreno Realty Corporation (TRNO): Acquires Industrial Property in Bellevue, WA * TRNO announces the acquisition of an industrial property in Bellevue, WA, for $6.5 million. ð¢ Vornado Realty Trust (VNO): Cushman & Wakefield Named Exclusive Leasing Agent for PENN 2 * VNO appoints Cushman & Wakefield as exclusive leasing agent for its PENN 2 office tower. ð Stay informed with the latest REIT updates with The Daily REIT Beat Newsletter and learn more at www.thedailyreitbeat.com! #RealEstate #REITs #InvestingNews ð ð
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#REIT Headlines ð¢ð¼ 1-3-2024 IRT's Strategic Moves: $200.7M Property Sales & Debt Repayment * Independence Realty Trust Inc. successfully sold four properties across different markets, totaling $200.7 million in gross sales. ðð° * This move aligns with the Companyâs Portfolio Optimization and Deleveraging Strategy, resulting in a significant debt repayment of $196.8 million. ððµ * They note that five more assets are set to close in Q1 2024! ðð TRNO's Profitable Deal: $15.9M Sale of Compton Industrial Property * Yesterday, Terreno Realty Corporation announced the sale of an industrial property in Compton, California, fetching $15.9 million. ðð¸ * The property, acquired in 2017 for $9.4 million, boasted a 58,000 sf industrial distribution building on 3.0 acres, 100% leased to one tenant. ð* * ð The impressive unleveraged internal rate of return reached 13.0%! ðð¡ KIM Expands with RPT Realty Acquisition: 56 Shopping Centers Added! * ð Yesterday, Kimco Realty Corporation celebrated the successful acquisition of RPT Realty, bringing in 56 open-air shopping centers, 43 wholly owned, and a whopping 13.3 million sf of gross leasable area. ð¬ð³ * This strategic move enhances Kimcoâs portfolio, now boasting 527 properties. ðð¼ ðð More REIT news and data can be found in The Daily REITBeat Newsletter. Learn more at www.thedailyreitbeat.com!
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#REIT Headlines ð¢ð¼ 1-3-2024 IRT's Strategic Moves: $200.7M Property Sales & Debt Repayment * Independence Realty Trust Inc. successfully sold four properties across different markets, totaling $200.7 million in gross sales. ðð° * This move aligns with the Companyâs Portfolio Optimization and Deleveraging Strategy, resulting in a significant debt repayment of $196.8 million. ððµ * They note that five more assets are set to close in Q1 2024! ðð TRNO's Profitable Deal: $15.9M Sale of Compton Industrial Property * Yesterday, Terreno Realty Corporation announced the sale of an industrial property in Compton, California, fetching $15.9 million. ðð¸ * The property, acquired in 2017 for $9.4 million, boasted a 58,000 sf industrial distribution building on 3.0 acres, 100% leased to one tenant. ð* * ð The impressive unleveraged internal rate of return reached 13.0%! ðð¡ KIM Expands with RPT Realty Acquisition: 56 Shopping Centers Added! * ð Yesterday, Kimco Realty Corporation celebrated the successful acquisition of RPT Realty, bringing in 56 open-air shopping centers, 43 wholly owned, and a whopping 13.3 million sf of gross leasable area. ð¬ð³ * This strategic move enhances Kimcoâs portfolio, now boasting 527 properties. ðð¼ ðð More REIT news and data can be found in The Daily REITBeat Newsletter. Learn more at www.thedailyreitbeat.com!
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#REIT Market Headlines - January 2, 2024 ðð¢ ð Jefferies Upgrades: Positive Outlook on Selected REITs * Jefferies upgrades Acadia Realty Trust ($20), AMH ($41), Boston Properties (BXP) ($80), CubeSmart ($53), Essex Property Trust ($281), Hudson Pacific Properties ($12), Invitation Homes ($41), Park Hotels & Resorts ($21) to Buy from Hold * Jefferies shifts Douglas Emmett to Hold from Underperform accompanied by a $5 price target increase to $15. ð½ Jefferies Downgrades: Adjusting Ratings * Jefferies downgrades MAA to Hold from Buy, revising the price target down by $4 to $136. ð Wolfe Research Ratings Update: Shifting Perspectives * Wolfe Research upgrades NETSTREIT Corp. (NYSE: NTST) to Outperform from Peer Perform setting a $22 price target. * Wolfe Research improves its rating on Equinix to Peer Perform from Underperform. * Wolfe Research downgrades AvalonBay Communities to Peer Perform from Outperform. ð¬ Strategic Transactions: Recent Moves in the Market * Four Corners Property Trust announces the acquisition of a Tire Discounters property in Kentucky for $1.8 million via a sale-leaseback transaction. The corporate-operated property operates under a long-term, triple net lease. * Murray Wise, founder of FPI subsidiary Murray Wise Associates LLC, plans to step down from Farmland Partners Inc. Board of Directors effective January 1, 2024. ð° Stay Informed, Stay Ahead navigating the REIT Landscape in 2024 and learn more at www.thedailyreitbeat.com!!
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ð¢ #REIT Headlines - January 10, 2024 Wolfe Research Initiations * DiamondRock Hospitality ($11) and RLJ Lodging Trust ($15) initiated with Outperform Ratings. * Summit Hotel Properties, Inc. and Xenia Hotels & Resorts, Inc. initiated with Peer Perform Ratings. KRC's Financial Move * Kilroy Realty Corporation priced $400 Million of 6.25% Senior Notes Due 2036 with net proceeds allocated for debt redemption, corporate purposes, including development projects. BRX Financial Strategy * Brixmor Property Group priced $400 Million of 5.50% Senior Notes Due 2034 with net proceeds deployed for general corporate objectives, emphasizing debt repayment. NTST's Financial Maneuver * NETSTREIT Corp. (NYSE: NTST) priced an upsized 9.6 Million Share forward stock offering at $18/Share where the $172.8 Million in gross proceeds will be earmarked for corporate purposes, including debt repayment and strategic acquisitions. WPC's Investment Triumph * W. P. Carey Inc. reports 2023 Full-Year Investment Volume of approximately $1.3 Billion as Q4 highlights include a cross-border sale-leaseback in Europe and upcoming property acquisitions. GTY's Financial Outlook * Getty Realty Corp. provides updates on Q4 and Full-Year 2023 business activities and establishes 2024 AFFO Guidance at $2.29-$2.31/Share. TRNO's Operational Unveiling * Terreno Realty Corporation shared its Operating, Investment, and Capital Markets Activities for Q4 2023 plus promotes John Meyer to Chief Operating Officer. AHT's Q4 Performance * Ashford Hospitality Trust (AHT) anticipates 66% Occupancy, ADR of $182, and RevPAR of $120 for 4Q'23 SPG Board Enhancement * Simon Property Group appoints Nina P. Jones to Board of Directors. INVH's Strategic Evolution * Invitation Homes commences a new era in Professional Property and Asset Management for Single-Family Homes where its inaugural agreement sets out to manage 14,000+ homes. S&P's Positive Assessment * S&P affirmed Phillips Edison & Company's Ratings, Including "BBB-" Issuer Credit Rating and revises its outlook to positive indicating stability and growth. Stay Informed in the Dynamic World of REITs with The Daily REIT Beat Newsletter and learn more at www.thedailyreitbeat.com! ð¡ð #REITs #RealEstateInvesting #MarketUpdate
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ð¢ #REIT Headlines - January 10, 2024 Wolfe Research Initiations * DiamondRock Hospitality ($11) and RLJ Lodging Trust ($15) initiated with Outperform Ratings. * Summit Hotel Properties, Inc. and Xenia Hotels & Resorts, Inc. initiated with Peer Perform Ratings. KRC's Financial Move * Kilroy Realty Corporation priced $400 Million of 6.25% Senior Notes Due 2036 with net proceeds allocated for debt redemption, corporate purposes, including development projects. BRX Financial Strategy * Brixmor Property Group priced $400 Million of 5.50% Senior Notes Due 2034 with net proceeds deployed for general corporate objectives, emphasizing debt repayment. NTST's Financial Maneuver * NETSTREIT Corp. (NYSE: NTST) priced an upsized 9.6 Million Share forward stock offering at $18/Share where the $172.8 Million in gross proceeds will be earmarked for corporate purposes, including debt repayment and strategic acquisitions. WPC's Investment Triumph * W. P. Carey Inc. reports 2023 Full-Year Investment Volume of approximately $1.3 Billion as Q4 highlights include a cross-border sale-leaseback in Europe and upcoming property acquisitions. GTY's Financial Outlook * Getty Realty Corp. provides updates on Q4 and Full-Year 2023 business activities and establishes 2024 AFFO Guidance at $2.29-$2.31/Share. TRNO's Operational Unveiling * Terreno Realty Corporation shared its Operating, Investment, and Capital Markets Activities for Q4 2023 plus promotes John Meyer to Chief Operating Officer. AHT's Q4 Performance * Ashford Hospitality Trust (AHT) anticipates 66% Occupancy, ADR of $182, and RevPAR of $120 for 4Q'23 SPG Board Enhancement * Simon Property Group appoints Nina P. Jones to Board of Directors. INVH's Strategic Evolution * Invitation Homes commences a new era in Professional Property and Asset Management for Single-Family Homes where its inaugural agreement sets out to manage 14,000+ homes. S&P's Positive Assessment * S&P affirmed Phillips Edison & Company's Ratings, Including "BBB-" Issuer Credit Rating and revises its outlook to positive indicating stability and growth. Stay Informed in the Dynamic World of REITs with The Daily REIT Beat Newsletter and learn more at www.thedailyreitbeat.com! ð¡ð #REITs #RealEstateInvesting #MarketUpdate
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#REIT Market Headlines - January 2, 2024 ðð¢ ð Jefferies Upgrades: Positive Outlook on Selected REITs * Jefferies upgrades Acadia Realty Trust ($20), AMH ($41), Boston Properties (BXP) ($80), CubeSmart ($53), Essex Property Trust ($281), Hudson Pacific Properties ($12), Invitation Homes ($41), Park Hotels & Resorts ($21) to Buy from Hold * Jefferies shifts Douglas Emmett to Hold from Underperform accompanied by a $5 price target increase to $15. ð½ Jefferies Downgrades: Adjusting Ratings * Jefferies downgrades MAA to Hold from Buy, revising the price target down by $4 to $136. ð Wolfe Research Ratings Update: Shifting Perspectives * Wolfe Research upgrades NETSTREIT Corp. (NYSE: NTST) to Outperform from Peer Perform setting a $22 price target. * Wolfe Research improves its rating on Equinix to Peer Perform from Underperform. * Wolfe Research downgrades AvalonBay Communities to Peer Perform from Outperform. ð¬ Strategic Transactions: Recent Moves in the Market * Four Corners Property Trust announces the acquisition of a Tire Discounters property in Kentucky for $1.8 million via a sale-leaseback transaction. The corporate-operated property operates under a long-term, triple net lease. * Murray Wise, founder of FPI subsidiary Murray Wise Associates LLC, plans to step down from Farmland Partners Inc. Board of Directors effective January 1, 2024. ð° Stay Informed, Stay Ahead navigating the REIT Landscape in 2024 and learn more at www.thedailyreitbeat.com!!
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ð¼ #REIT Headlines -- 4/30/2024 ð¢ ð Quarterly Earnings Announcements: * Acadia Realty Trust, American Tower, Brixmor Property Group, Centerspace, Easterly Government Properties, LTC Properties, Inc. (NYSE: LTC), Macerich, NETSTREIT Corp. (NYSE: NTST), NexPoint Residential Trust Inc, SITE Centers, SBA Communications, Sun Communities & Sun Outdoors, and Welltower⢠Inc. (NYSE:WELL) all reported their quarterly earnings. ð Upcoming Earnings Releases: * American Assets Trust, Inc., Boston Properties (BXP), Community Healthcare Trust, Essex Property Trust, Extra Space Storage, Industrial Logistics Properties Trust, Invitation Homes, InvenTrust Properties Corp. (IVT), JBG SMITH, Kite Realty Group, Piedmont Office Realty Trust, Park Hotels & Resorts, Public Storage, Tanger, STAG Industrial, Inc., UDR - Opening Doors to your future, and W. P. Carey Inc. are set to announce their earnings after today's trading * NNN REIT, Inc. will share its results tomorrow morning before the market opens. ð¥ Property Acquisition by Four Corners Property Trust: * FCPT made a strategic move with the acquisition of a Patient First Urgent Care property in PA for $6.6 million. * Approximately ten years of lease term remaining and priced at a 7.1% cap rate. ð Moodyâs Upgrades Invitation Homes: * Moodyâs upgraded INVH's operating partnership, reflecting its improved financial strength and stability. * The senior unsecured debt rating has been raised to âBaa2â from âBaa3,â with a revised stable outlook ð Moodyâs Affirms Ratings for Lamar Advertising Company: * Moodyâs affirmed the various ratings of LAMR and its subsidiary including its stable outlook Get all this information and much more with The Daily REITBeat Newsletter (www.thedailyreitbeat.com)!
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ð¼ #REIT Headlines -- 4/30/2024 ð¢ ð Quarterly Earnings Announcements: * Acadia Realty Trust, American Tower, Brixmor Property Group, Centerspace, Easterly Government Properties, LTC Properties, Inc. (NYSE: LTC), Macerich, NETSTREIT Corp. (NYSE: NTST), NexPoint Residential Trust Inc, SITE Centers, SBA Communications, Sun Communities & Sun Outdoors, and Welltower⢠Inc. (NYSE:WELL) all reported their quarterly earnings. ð Upcoming Earnings Releases: * American Assets Trust, Inc., Boston Properties (BXP), Community Healthcare Trust, Essex Property Trust, Extra Space Storage, Industrial Logistics Properties Trust, Invitation Homes, InvenTrust Properties Corp. (IVT), JBG SMITH, Kite Realty Group, Piedmont Office Realty Trust, Park Hotels & Resorts, Public Storage, Tanger, STAG Industrial, Inc., UDR - Opening Doors to your future, and W. P. Carey Inc. are set to announce their earnings after today's trading * NNN REIT, Inc. will share its results tomorrow morning before the market opens. ð¥ Property Acquisition by Four Corners Property Trust: * FCPT made a strategic move with the acquisition of a Patient First Urgent Care property in PA for $6.6 million. * Approximately ten years of lease term remaining and priced at a 7.1% cap rate. ð Moodyâs Upgrades Invitation Homes: * Moodyâs upgraded INVH's operating partnership, reflecting its improved financial strength and stability. * The senior unsecured debt rating has been raised to âBaa2â from âBaa3,â with a revised stable outlook ð Moodyâs Affirms Ratings for Lamar Advertising Company: * Moodyâs affirmed the various ratings of LAMR and its subsidiary including its stable outlook Get all this information and much more with The Daily REITBeat Newsletter (www.thedailyreitbeat.com)!
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ð° #REIT Headlines - 1/5/2023 ð¢ ð KeyBanc's Bold Moves: Upgrades NSA & ROIC, Downgrades AVB, DOC, MPW * KeyBanc makes strategic upgrades, favoring NSA Storage ($45) and Retail Opportunity Investments Corp. ($16) with Overweight ratings while downgrading AvalonBay Communities, Physicians Realty Trust (NYSE: DOC), and Medical Properties Trust, Inc. to Sector Weight ð Baird Adjustments: REXR and STAG Get a Neutral Rating * Baird downgrades Rexford Industrial ($61) and STAG Industrial, Inc. ($41) to Neutral ð Wolfe Research's Move: SITC Downgraded to Peer Perform * Wolfe Research recalibrates its outlook, downgrading SITE Centers to Peer Perform ð° Major Offerings: SUI and MAA Secure Senior Notes * Sun Communities & Sun Outdoors and MAA make significant financial moves with the issuance of $500 million and $350 million senior notes, respectively ð¢ REXR's Property Portfolio Tweaks: Acquisitions and Dispositions * Rexford Industrial announces strategic property investments totaling $69.5 million and disposes of a property for $11.3 million. ð CTO and PINE 2023 Updates: Investment, Disposition, and Leasing Activities * CTO Realty Growth, Inc. and Alpine Income Property Trust provide comprehensive updates on their 2023 investment, disposition, and leasing activities. ð UMH and MPW Announcements: Operating Results and Rent Recovery Plans * UMH Properties, Inc. releases an update on its year-end 2023 operating results, while Medical Properties Trust, Inc. reveals plans to recover uncollected rents, totaling approximately $50 million. ð¤ AMT's Global Agreement: Partnership with Data Infrastructure Trust * American Tower signs a definitive agreement with Data Infrastructure Trust, potentially yielding up to $2.5 billion in cash proceeds. ð S&P Global's Rating Affirmation: KRC's Outlook Revised to Negative * S&P Global affirms Kilroy Realty Corporation's ratings, maintaining a "BBB" issuer credit rating, but revises its outlook to negative. ð SBRA's Leadership Boost: Jessica Flores Appointed EVP and Chief Accounting Officer * Sabra Health Care REIT, Inc. announces the appointment of Jessica Flores as Executive Vice President and Chief Accounting Officer. Stay tuned for more detailed updates and learn more at www.thedailyreitbeat.com! ðð #REIT #RealEstateInvestment #FinanceNews
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