Pricing of Common Stock Offering, Upcoming Earnings, Stock Price Updates, and Draft IPO Filing - Analyst Notes on Starwood, Prudential, AmericanTower , Digital Realty Trust and NorthStar
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NEW YORK, April 11, 2014 /PRNewswire/ --
Today, Analysts Review released its analysts' notes regarding Starwood Property Trust, Inc. (NYSE: STWD), Prudential Financial, Inc. (NYSE: PRU), American Tower Corporation (NYSE: AMT), Digital Realty Trust Inc. (NYSE: DLR) and NorthStar Realty Finance Corp. (NYSE: NRF). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at: http://www.analystsreview.com/990-100free.
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Starwood Property Trust, Inc. Analyst Notes
On April 8, 2014, Starwood Property Trust, Inc. (Starwood) announced the pricing of an underwritten public offering of 22 million shares of its common stock for total estimated gross proceeds of nearly $496.1 million (or approximately $570.5 million if the option to purchase additional shares is exercised in full). As stated underwriters have a 30-day option to purchase up to an additional 3.3 million shares from the Company. The Company expects to close the offering on April 11, 2014, subject to conditions. The Company plans to use the net proceeds received from the offering to originate and purchase additional commercial mortgage loans and other target assets and investments. The full analyst notes on Starwood are available to download free of charge at:
http://www.analystsreview.com/990-STWD-11Apr2014.pdf
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Prudential Financial, Inc. Analyst Notes
On April 1, 2014, Prudential Financial, Inc. (Prudential) reported that it will release its Q1 2014 earnings on May 7, 2014, after the market closes. The Company informed that Prudential's senior management will hold a conference call on Thursday, May 8, 2014, at 11:00 a.m. ET, to discuss with the investment community the Company's Q1 2014 results. According to Zacks Investment Research Data, the consensus EPS estimate for Q1 2014 is $2.27. The full analyst notes on Prudential are available to download free of charge at:
http://www.analystsreview.com/990-PRU-11Apr2014.pdf
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American Tower Corporation Analyst Notes
On April 8, 2014, shares of American Tower Corporation (American Tower) edged 1.03% higher, closing the day at $81.50. During the trading session, the Company's shares opened at $80.68 and vacillated in the range of $80.17 - $81.68. The stock is trading near its 52-week high of $85.26. American Tower traded 3.00 million shares during the day. American Tower commenced trading ex-dividend on April 08, 2014 for a cash dividend payment of $0.32 per share to be paid on April 25, 2014. Shareholders who purchased stock prior to the ex-dividend date are eligible for the cash dividend payment. The full analyst notes on American Tower are available to download free of charge at:
http://www.analystsreview.com/990-AMT-11Apr2014.pdf
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Digital Realty Trust Inc. Analyst Notes
On April 8, 2014, Digital Realty Trust Inc.'s (Digital Realty Trust) stock gained 0.51%, tracking gains in the broader market index (S&P 500), ending the day at $53.60. During the trading session, the Company's shares opened at $53.20 and oscillated in the range of $53.20 - $54.30. A total of 4.12 million shares changed hands during the day, higher than its 30-day average trading volume of 1.47 million shares. Over the previous five trading sessions, the shares of the Company increased 1.25%, outperforming the S&P 500, which decreased 1.78% during the same period. The full analyst notes on Digital Realty Trust are available to download free of charge at:
http://www.analystsreview.com/990-DLR-11Apr2014.pdf
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NorthStar Realty Finance Corp. Analyst Notes
On March 31, 2014, NorthStar Realty Finance Corp. (NorthStar) announced that it has submitted a draft registration statement on Form S-11 to the U.S. Securities and Exchange Commission (SEC) relating to its proposed $2.0 billion initial public offering (IPO) of common stock. The Company informed that it intends to qualify as a RIET and is co-sponsored by NorthStar Asset Management Group Inc., a newly formed Delaware corporation organized as the successor to NorthStar Realty Finance Corp.'s asset management business, and by RXR Realty LLC. The Company plans to use the net proceeds from its IPO to make commercial real estate investments located in the New York City metropolitan area. The IPO is expected to begin after the SEC completes its review process, subject to market and other conditions. The full analyst notes on NorthStar are available to download free of charge at:
http://www.analystsreview.com/990-NRF-11Apr2014.pdf
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EDITOR'S NOTES:
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1. This is not company news. We are an independent source and our views do not reflect the companies mentioned.
2. This release was reviewed by Ananya Ghosh, a CFA charter-holder. If you notice any errors or omissions, please notify us below.
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