Real estate investment trusts continued to lose ground and the broader markets rebounded Tuesday, March 20, amid expectations that the Federal Reserve will announce an interest-rate increase Wednesday, following the Federal Open Market Committee's meeting.
RLJ Lodging Trust activist shareholder Land & Buildings Investment Management LLC disclosed its two director nominees for election at the full-service hotel REIT's forthcoming annual meeting. Land & Buildings also urged RLJ Lodging to "immediately" establish a special committee of independent directors to evaluate strategic alternatives for the company, arguing that it is undervalued and underperforming.
RLJ Lodging shares closed flat at $20.03.
Office REIT Cousins Properties Inc.'s board increased the company's quarterly cash dividend by 8.3% to 6.5 cents per common share.
Shares of Cousins Properties rose 0.11%, closing at $8.71.
OUTFRONT Media Inc. Executive Vice President and CFO Donald Shassian will retire from the advertising REIT in mid-2018.
Outfront Media shares slipped 2.06% to close at $19.00.
Jennifer Banks and Larry Diamond will join Alexandria Real Estate Equities Inc. as the office REIT's co-COOs, effective April 23.
Shares of Alexandria Real Estate ticked down 0.67% to close at $126.39.
Thomas Gimbel does not plan to stand for re-election to the board of Farmland Partners Inc. at the farmland REIT's 2018 annual stockholder meeting, as he intends to focus on his other business interests.
Farmland Partners shares closed 1.52% lower at $8.40.
Market prices and index values are current as of the time of publication and are subject to change.