Recent Updates on REITs: Special Research on InterGroup, Brookfield, Piedmont, Spirit Realty, and New England Realty
NEW YORK, February 16, 2015 /PRNewswire/ --
Editor Note: For more information about this release, please scroll to bottom.
Moments ago, Analysts Review released new research updates concerning several important developing situations including InterGroup (NASDAQ: INTG), Brookfield (NYSE: BAM), Piedmont (NYSE: PDM), Spirit Realty (NYSE: SRC), and New England Realty (NYSEMKT: NEN). Analysts Review provides a single unified platform for investors' to hear about what matters - proudly employing registered CFA® research staff and rigorous compliance procedures. The full research reports are being made available to the public for informational purposes only.
To access our full PDF reports on a complementary basis, please visit the links below.
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Today's update concerns the following companies:
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Full PDF Download Links (you may have to copy and paste the following links into your browser):
INTG Research Report: ( http://get.analystsreview.com/pdf/?c=InterGroup&d=16-Feb-2015&s=INTG ),
BAM Research Report: ( http://get.analystsreview.com/pdf/?c=Brookfield&d=16-Feb-2015&s=BAM ),
PDM Research Report: ( http://get.analystsreview.com/pdf/?c=Piedmont&d=16-Feb-2015&s=PDM ),
SRC Research Report: ( http://get.analystsreview.com/pdf/?c=Spirit%20Realty&d=16-Feb-2015&s=SRC ),
NEN Research Report: ( http://get.analystsreview.com/pdf/?c=New%20England%20Realty&d=16-Feb-2015&s=NEN ).
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Analyst Update: Quarterly Results, Strategic Agreements, and Quarterly Distributions
Reviewed by: Rohit Tuli, CFA®
The U.S. stocks closed higher on Friday with S&P 500 hitting an intraday record and the Dow Jones Industrial Average reaching its highest point so far this year. The Dow industrials added 46.97 points, or 0.26%, to 18019.35. The S&P 500 rose 8.51 points, or 0.41%, to 2096.99, and the Nasdaq Composite gained 36.22 points, or 0.75%, to 4893.84. The markets got a boost on hopes of a deal between Greece and its creditors. The continued redound in oil prices as well as strong economic data out of Europe also helped the markets in the rally. European markets also rose, driven by the Friday release of German data that showed the country's economy had grown in 2014's fourth quarter at a better-than-expected rate. Asia stocks mostly closed higher on Friday, following a global advance overnight, supported by reports of a new cease-fire agreement between Russia and Ukraine, Sweden's surprise move to cut its main rate into negative territory, and Greece agreeing to talks over its debt problems.
The InterGroup Corporation (InterGroup) has reported a net loss of $1.2 million for the three months ended September 30, 2014, compared to a net income of $1.7 million for the three months ended September 30, 2013.
Brookfield Asset Management Inc (Brookfield) has reached an agreement to acquire the remaining 50% of its Canadian and Australian facilities management businesses from Johnson Controls Inc. for approximately $200 million. The move will facilitate Brookfield's merger with wholly owned businesses in the Middle-East and South America, paving way for it to create a leading global facilities management business.
Piedmont Office Realty Trust, Inc. (Piedmont) has reported a growth of 3.7% YoY in its revenues for fourth quarter 2014 which stood at $146.7 million, helped mainly by increased reimbursement revenue and increased rental income from the net increase in occupancy over the last year.
Spirit Realty Capital, Inc. (Spirit Realty), a Real Estate Investment Trust (REIT) company that invests in single-tenant, operationally essential real estate, has signed agreement with its largest tenant, Shopko Stores Operating Co., LLC ("Shopko"), to modify its Master Lease agreement. Among other things, the modified agreement allows Spirit Realty to unilaterally sell properties or sub-portfolios under newly executed leases or master leases between Shopko and the buyers.
New England Realty Associates L.P. (New England Realty) announced fourth-quarter distribution for its Class A Limited Partners of $7.50 per unit.
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Editor Note: This is not company news. We are an independent source and our views do not reflect the companies mentioned.
Compliance Procedure: Content is researched, written and reviewed on a best-effort basis. This document, article or report is prepared and authored by Analysts Review, represented by Rohit Tuli, CFA®. An outsourced research services provider has only reviewed the information provided by Analysts Review in this article or report according to the procedures outlined by Analysts Review. Analysts Review is not entitled to veto or interfere in the application of such procedures by the outsourced provider to the articles, documents or reports, as the case may be.
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SOURCE Analysts Review
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