REITs and the broader markets dipped Monday, March 27, as the Dow Jones Industrial Average saw its longest losing streak since 2011.
The MSCI US REIT Index (RMZ) closed 0.90% lower at 1,130.76, and the SNL US REIT Equity Index declined 0.70% to close at 306.21. The Dow Jones Industrial Average fell 0.22% to 20,550.98, while the S&P 500 dropped 0.10% to end the day at 2,341.59.
Senior Housing Properties Trust said Monday that an undisclosed sovereign institutional investor set up a joint venture with the company and will contribute approximately $261 million for a 45% equity stake in two Boston life science properties Senior Housing acquired in 2014.
Shares of Senior Housing Properties rose 0.85% to close at $20.28.
GEO Group Inc.'s board declared a 3-for-2 stock split of the company's common stock. The company said Monday that it expects its common stock to begin trading at the split-adjusted price April 25.
Shares of GEO Group fell 0.48%, closing at $45.75.
Hudson Pacific Properties Inc. said Monday that it wrapped up the sale of a three-story office building in Santa Monica, Calif., for $35 million.
Hudson Pacific shares dropped 1.83% to close at $33.78.
FelCor Lodging Trust Inc.'s board recommended that its shareholders turn down Ashford Hospitality Trust Inc.'s director nominees, according to a Friday filing.
FelCor shares slid 0.40% to $7.42 and Ashford Trust shares decreased 0.85% to close at $5.80.
American Homes 4 Rent said Friday that the sole underwriter of its public offering of class A common shares fully exercised its option to purchase up to 1,650,000 additional shares for estimated net proceeds of roughly $286.1 million. The company expects to close the offering March 28.
American Homes 4 Rent shares declined 0.94% to close at $23.16.
Also on Friday, Easterly Government Properties Inc. said underwriters in its 4.3 million-share common stock offering fully exercised their option to buy up to 645,000 additional shares. The offering is set to close March 27.
Easterly Government shares shed 0.93%, closing at $19.25.
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