Real estate investment trusts and the broader markets ended in the black Monday, March 5, after administration officials downplayed concerns that President Donald Trump's plan to impose certain import tariffs could fuel a trade war.
Troubled nursing home operator HCR ManorCare Inc. filed for bankruptcy in Delaware as part of a planned takeover by healthcare landlord Quality Care Properties Inc. Carlyle Group LP subsidiaries will give up their majority stake in ManorCare as part of the transaction.
Shares of Quality Care Properties jumped 4.55% to close at $17.
Land & Buildings Investment Management LLC put pressure on QTS Realty Trust Inc. to publicly commit to measures addressing the data center REIT's stock underperformance, or else the activist shareholder will withhold its vote for Chairman and CEO Chad Williams' board election.
QTS Realty shares inched up 0.03% to close at $33.90.
Healthcare REIT HCP Inc. handed over the management of 24 seniors housing communities to Atria Senior Living Inc., with the portfolio transitions expected to be completed by September, pending regulatory approvals. The move is part of HCP's plan to exit its partnership with seniors housing operator Brookdale Senior Living Inc.
HCP shares ticked up 1.92%, closing at $22.26.
Primarily office-focused REIT Hudson Pacific Properties Inc. and regional mall landlord Macerich Co. are joining forces to transform the Westside Pavilion in Los Angeles into creative office space. The project has an estimated cost of up to $475 million.
Hudson Pacific shares climbed 0.38% to close at $31.62, and Macerich shares added 0.20% to close at $59.16.
Canadian shopping center REIT RioCan Real Estate Investment Trust debuted its RioCan Living brand, marking its foray into the residential market.
RioCan shares gained 1.50% to close at C$23.76.
Shopping center landlord DDR Corp. disclosed operating funds-from-operations guidance of 22 cents per share for the first quarter, among other earnings projections.
DDR shares declined 1.39%, ending the day at $7.81.

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