Real estate investment trusts closed essentially flat, and the broader markets stretched their losses Wednesday, Feb. 28, with the Dow Jones Industrial Average and S&P 500 recording their first monthly declines since March 2017.
Diversified REIT Colony NorthStar Inc. and several other investors agreed to acquire a majority stake in the property arm of French hotelier AccorHotels for €4.4 billion. The investor group that will initially acquire 55% of AccorInvest also includes the Public Investment Fund of Saudi Arabia, Singaporean sovereign wealth fund GIC Pte. Ltd., French asset manager Amundi SA and Crédit Agricole Assurances SA.
Colony NorthStar shares declined 1.27% to end the day at $7.78.
Shopping center REIT Wheeler Real Estate Investment Trust Inc. retained KeyBanc Capital Markets as its financial adviser in its ongoing strategic review, noting that there is no definitive timeline for the process.
Shares of Wheeler REIT rose 0.20%, closing at $5.02.
Healthcare REIT CareTrust REIT Inc. expects normalized funds from operations for the full year 2018 in a range of $1.25 to $1.27 per share. The company also entered into a lease termination agreement with Pristine Senior Living LLC, whereby the tenant and its affiliates will surrender its remaining CareTrust facilities to operators chosen by the trust.
CareTrust REIT shares sank 7.28% to close at $13.25.
Lodging REIT Sotherly Hotels Inc. expects FFO for the full year 2018 to be between $1.04 and $1.07 per share and unit, and adjusted FFO available to holders in a range of $1.04 to $1.08 per common share and unit.
Shares of Sotherly Hotels fell 0.82% to close at $6.07.
Manufactured home-focused residential REIT Equity LifeStyle Properties Inc.'s board increased the company's quarterly dividend to 55 cents per common share from 48.75 cents per share.
Equity LifeStyle shares closed 0.13% lower at $84.61.

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