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REIT Replay: REITs, markets end Thursday in the black

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REIT Replay: REITs, markets end Thursday in the black

Real estate investment trusts and the broader markets closed higher Thursday, March 8, as U.S. President Donald Trump implemented steel and aluminum import tariffs that exclude Canada and Mexico.

Cominar Real Estate Investment Trust cut its monthly distribution to 6 Canadian cents per unit from 9.5 cents per unit, as the diversified REIT posted a net loss of C$391.7 million for the year ended Dec. 31, 2017.

Cominar REIT shares slipped 5.16% to close at C$13.05.

Industrial REIT Terreno Realty Corp. acquired a 65%-leased industrial property at 4786 1st Ave. S. in Seattle for about $42.0 million.

Terreno Realty shares fell 0.46%, closing at $34.71.

Healthcare REIT Global Medical REIT Inc. agreed to acquire a four-building medical office portfolio totaling 155,600 rentable square feet for $64.2 million.

Global Medical REIT shares closed 4.11% higher at $7.10.

Industrial REIT FIBRA Prologis declared a 2017 fourth-quarter quarterly cash distribution of 55.36 Mexican centavos per Certificado Bursátil Fiduciario Inmobiliario, or CBFI, down from its previous quarterly distribution of 57.31 centavos per CBFI.

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Data Dispatch: US REIT capital markets activity up 10.4% YTD through February: Chart Watch: U.S. real estate investment trusts raised $2.49 billion through nine capital offerings in the latter half of February, excluding offerings by existing shareholders.

REIT share repurchases in spotlight as stock discounts persist: Steep discounts among real estate investment trusts have made share buybacks attractive for many companies, but analysts disagree on the desirability of the practice as part of a judicious capital allocation strategy.

Market prices and index values are current as of the time of publication and are subject to change.