NEW YORK, October 12, 2016 /PRNewswire/ --
Diversified REITs own and manage a mix of property types, including office and industrial properties, and collect rent from tenants. According to an article on NASDAQ, the sector is expected to benefit in the long-run from the Fed's plan to keep rates low for an extended period. This morning, Stock-Callers.com draws investors' attention to: VEREIT Inc. (NYSE: VER), Annaly Capital Management Inc. (NYSE: NLY), Spirit Realty Capital Inc. (NYSE: SRC), and Corrections Corp. of America (NYSE: CXW) to see how they have fared over the last few trading sessions. Learn more about these stocks by downloading their free research reports in PDF format at:
Phoenix, Arizona-based VEREIT Inc.'s stock finished Tuesday's session 2.07% lower at $9.45 with a total trading volume of 4.77 million shares. The Company's shares have advanced 21.21% on YTD basis. The stock is trading 2.47% above its 200-day moving average. Additionally, shares of VEREIT, which owns and acquires single tenant, freestanding commercial real estate that is net leased on a medium-term basis, primarily to investment grade credit rated and other creditworthy tenants, have a Relative Strength Index (RSI) of 32.13.
On September 19th, 2016, VEREIT filed a prospectus supplement with the SEC in connection with the commencement of a "continuous equity" offering under which the company may sell shares of its common stock having an aggregate offering price of up to $750.0 million from time to time through September 19th, 2019 in "at-the-market" offerings or certain other transactions. The company intends to use the proceeds from any sale for general corporate purposes, which may include funding potential acquisitions and repurchasing or repaying outstanding indebtedness. Sign up and read the free research report on VER at:
On Tuesday, shares in New York-based Annaly Capital Management Inc. recorded a trading volume of 4.52 million shares. The stock ended the session 0.50% lower at $10.01. The Company's shares have advanced 16.16% since the start of this year. The stock is trading 1.32% above its 200-day moving average. Moreover, shares of Annaly Capital Management, which owns a portfolio of real estate related investments in the US, have an RSI of 36.19. The complimentary research report on NLY can be downloaded at:
Shares in US-domiciled Spirit Realty Capital Inc. closed the day 1.05% lower at $12.22. The stock recorded a trading volume of 2.92 million shares. The Company's shares have gained 27.36% on an YTD basis. The stock is trading 6.44% above its 200-day moving average. Additionally, shares of Spirit Realty Capital, which primarily acquires across the US single tenant operationally essential real estate, which refers to generally free-standing, commercial real estate facilities where tenants conduct retail, service or distribution activities that are essential to the generation of their sales and profits, have an RSI of 33.62.
As per notes filed with the SEC on September 21st, 2016, Spirit Realty announced that effective September 21st, 2016, Mark Manheimer, Executive Vice President of Asset Management, is no longer with the company. The company has undertaken a search for Mr. Manheimer's replacement, and informed that the current Asset Management team will continue to manage portfolio under the direction of Jackson Hsieh, President and Chief Operating Officer, until a replacement is hired. No new compensatory or severance agreements were entered in connection with Mr. Manheimer's departure. Register for free on Stock-Callers.com and access the latest report on SRC at:
Corrections Corp. of America
At the close, shares in Nashville, Tennessee-based Corrections Corp. of America ended the day at $13.40, which was a slight drop of 0.37%. The stock recorded a trading volume of 1.77 million shares. The Company's shares are trading below their 50-day moving average by 27.84%. Furthermore, shares of Corrections Corp., which together with its subsidiaries, owns and operates privatized correctional and detention facilities in the US, have an RSI of 23.50.
On September 27th, 2016, the company announced a restructuring of its corporate operations and implementation of a cost reduction plan. Corrections Corp. expects that 50 to 55 full time positions will be eliminated as a result of the restructuring, or approximately 12% of the corporate workforce at its headquarters. The company expects to report a charge in Q3 2016 of approximately $4.0 million associated with this restructuring. The company stated that the impact of these staffing reductions together with the implementation of the cost reduction plan, are expected to result in expense savings of approximately $9.0 million in 2017. In support of the cost reduction plan, Damon T. Hininger, the company's President and Chief Executive Officer, volunteered to forfeit restricted stock units awarded to him on February 19th, 2016, and requested the company's compensation committee to not award him any equity-based compensation in 2017. Get free access to your research report on CXW at:
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