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REIT Replay: Broader markets, REITs close in the red

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REIT Replay: Broader markets, REITs close in the red

Real estate investment trusts and the broader markets posted losses Thursday, May 24, as President Donald Trump called off a planned summit with North Korea's Kim Jong Un and ordered an inquiry into auto imports.

Data center REIT CoreSite Realty Corp. and office REIT Kilroy Realty Corp. declared raised dividends of $1.03 per share and 45.5 cents per share, respectively.

CoreSite Realty shares rose 0.94% to end the day at $104.38, while shares of Kilroy Realty increased 0.16% to finish at $74.88.

Ryman Hospitality Properties Inc. plans to invest $150M million into its 1,416-room Gaylord Palms Resort & Convention Center in Kissimmee, Fla., adding roughly 490,000 square feet of meeting and pre-function space and 303 additional guest rooms.

Ryman Hospitality shares gained 1.00% to close at $82.53.

Advertising REIT OUTFRONT Media Inc. appointed Matthew Siegel as its new executive vice president and CFO, effective June 4.

Shares of Outfront Media Inc. closed at $19.50, a dip of 0.26%.

Ontario-based Minto Apartment Real Estate Investment Trust is looking to list its units on the Toronto Stock Exchange after filing a preliminary prospectus for an IPO. The company will initially purchase a 22-multi-residential rental property portfolio indirectly from Minto Properties Inc.

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Conference Chatter: Horde of digitally native retailers want to open stores, venture capitalist says: Mounting bankruptcies and store closures among legacy brick-and-mortar retailers have obscured the growing demand for retail space among e-commerce startups, a venture capitalist said at RECon this week in Las Vegas.

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