Real estate investment trusts and the broader markets continued to gain ground Thursday, May 10, as fears of uncontrolled inflation abated.
Healthcare REIT Senior Housing Properties Trust sold two seniors housing communities leased to Sunrise Senior Living LLC for $217.0 million, realizing a gain of approximately $181.2 million.
Senior Housing Properties shares rose 1.05% to end the day at $16.38.
Extra Space Storage Inc. said it was under agreement to acquire 26 stores for about $355.8 million, as of March 31. The self-storage REIT added that it is also under agreement to buy 15 stores with joint venture partners for a total investment of $77.8 million.
Shares of Extra Space Storage added 0.90%, closing at $95.16.
Rexford Industrial Realty Inc. purchased two industrial properties for $127.1 million, including the 695,120-square-foot property at 5300 Sheila St. in Commerce, Calif., for $121.0 million. The company also sold two assets for $9.1 million.
Shares of Rexford Industrial lifted 0.15% to close at $32.49.
A team of Raymond James & Associates Inc. analysts initiated temperature-controlled warehouse owner and operator Americold Realty Trust at "outperform" and assigned a per-share target price of $22.50.
"Neither fish (traditional industrial) nor fowl (logistics), Americold's niche positioning offers attractive internal and external growth opportunities, solid and resilient fundamentals, and competitive advantages related to scale," the analysts said in a note, adding that the rating is largely driven by the company's reasonable valuation, healthy dividend yield and experienced management.
Americold Realty shares closed 0.28% lower at $21.43.

Earnings call coverage
LaSalle CEO, newly bullish, cites strong spring results: The typically bearish executive struck an ebullient tone on the call, which was held as the company digests the latest unsolicited takeover proposal from Pebblebrook Hotel Trust.
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Data Dispatch: US REIT capital markets activity continues to slow in April, down 68% YOY: Chart Watch: U.S. real estate investment trusts completed eight capital offerings in April, totaling $1.28 billion.
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