Upcoming Conference Call, Notes Pricing, Term Loan Amendments, Expansion, and Asset Acquisition - Analyst Notes on Duke Realty, SWAY, Regency, Ryman Hospitality and W.P. Carey
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NEW YORK, July 4, 2014 /PRNewswire/ --
Today, Analysts Review released its analysts' notes regarding Duke Realty Corporation (NYSE: DRE), Starwood Waypoint Residential Trust (NYSE: SWAY), Regency Centers Corporation (NYSE: REG), Ryman Hospitality Properties, Inc. (NYSE: RHP) and W.P. Carey Inc. (NYSE: WPC). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at: http://www.analystsreview.com/4459-100free.
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Duke Realty Corporation Analyst Notes
On June 27, 2014, Duke Realty Corporation announced that it will hold its quarterly conference call to discuss its Q2 2014 financial results on July 31, 2014 at 3:00 p.m. ET. The live audio webcast can be accessed on the Company's Investor Relations site, along with a replay which will be made available once the conference call has concluded. The full analyst notes on Duke Realty are available to download free of charge at:
http://www.analystsreview.com/Jul-04-2014/DRE/report.pdf
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Starwood Waypoint Residential Trust Analyst Notes
On June 30, 2014, Starwood Waypoint Residential Trust (SWAY) announced the pricing of $200 million aggregate principal amount of 3.00% Convertible Senior Notes due 2019. The unsecured Notes will pay interest at rate of 3.00% per year, semi-annually. According to the Company, the Senior Notes will be convertible into cash, common shares of the Company, or a combination of both cash and common shares at an initial conversion rate of 29.9242 common shares per $1,000 principal amount of Convertible Senior Notes, equivalent to an initial conversion price of approximately $33.42 per common share. The conversion price is approximately 27.5% above the $26.21 per share closing price of common shares, and the notes will mature on July 1, 2019, unless repurchased. The Company expects the sale of the Convertible Senior Notes to close on July 7, 2014 subject to closing conditions. The full analyst notes on SWAY are available to download free of charge at:
http://www.analystsreview.com/Jul-04-2014/SWAY/report.pdf
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Regency Centers Corporation Analyst Notes
On July 1, 2014, Regency Centers Corporation (Regency) announced an amendment to its existing senior unsecured term loan facility, establishing a new Facility size of $165 million, which extended the maturity date to June 27, 2019 and reduced the applicable interest rate. The Facility will bear interest at LIBOR plus 1.15% per annum, and is subject to an unused fee of 0.20% per annum on the undrawn balance. As of June 30, 2014, the borrowings under the facility totaled $75 million, and the Company has until August 31, 2015 to borrow up to an additional $90 million. The full analyst notes on Regency are available to download free of charge at:
http://www.analystsreview.com/Jul-04-2014/REG/report.pdf
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Ryman Hospitality Properties, Inc. Analyst Notes
On June 26, 2014, Ryman Hospitality Properties, Inc. (Ryman Hospitality) announced that it would commit nearly $14 million for planned expansion and renovation of the Ryman's auditorium, as part of the Company's ongoing investment in its attractions. The proposed expansion and renovation, which is expected to improve the experience of both tour guests and concert attendees, will include an event space that will feature a new, state-of-the-art daytime tour attraction, and will also be available for evening private functions. Other amenities and plans include a café space, enhanced food and beverage services, expanded retail area, new box office, additional restroom facilities, and larger lobbies. Bill Haslam, Tennessee Governor, said, "The tourism industry adds more than a billion dollars annually to our state's tax base, making it critical to fostering sustained economic growth in Tennessee. Continued investment from hospitality leaders like Ryman will further improve our state's unique tourist offerings and attract even more visitors to Tennessee." The full analyst notes on Ryman Hospitality are available to download free of charge at:
http://www.analystsreview.com/Jul-04-2014/RHP/report.pdf
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W.P. Carey Inc. Analyst Notes
On June 26, 2014, Carey Watermark Investors Incorporated (CWI), an affiliate of W.P. Carey Inc. (W.P. Carey), announced its acquisition of 302-room, dual-brand select-service hotel, located in Denver's Central Business District in a transaction valued at c. $85 million. The acquisition was financed with $53 million of debt, and the price includes $81.5 million purchase price as well as acquisition-related costs and planned capital expenditures. The property also boasts of strong market hold and strong brand affiliation, with the region experiencing influx of over 13 million visitors each year, and brands associated with the property includes The Hampton Inn & Suites and Homewood Suites brands. Michael Medzigian, CEO of CWI, said, "The acquisition of the Hampton Inn & Suites/Homewood Suites by Hilton Denver Downtown/Convention Center represented the opportunity to invest in a newly redeveloped, quality dual-branded hotel with strong brand affiliations in a strong domestic market. Given these attributes, we believe that the investment will be a solid cash flow-generating addition to our growing portfolio." The full analyst notes on W.P. Carey are available to download free of charge at:
http://www.analystsreview.com/Jul-04-2014/WPC/report.pdf
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