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To: brehm233 who wrote (520)4/16/2012 4:50:46 PM
From: deeno
   of 12017
 
Re: pfds- anyone playing this game?


yes the RBS.T

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From: dipstixx4/16/2012 7:35:24 PM
1 Recommendation   of 12017
 
Pennsylvania Real Estate Investment Trust to Float 8.25% Preferred Shares

PHILADELPHIA--(BUSINESS WIRE)-- Pennsylvania Real Estate Investment Trust (the “Company”) (NYSE: PEI) today announced that it has priced the underwritten public offering of 4,000,000of its 8.25% Series A Cumulative Redeemable Perpetual Preferred Shares (the “Series A Preferred Shares”) at $25.00 per share, plus accrued dividends, if any. The offering is expected to close on April 20, 2012, subject to customary closing conditions. Dividends on the Series A Preferred Shares will be paid quarterly in arrears on the 15th day of each March, June, September and December, commencing June 15, 2012 at a rate of 8.25% annually of the stated liquidation value of $25.00 per share, which is equivalent to $2.0625per share on an annualized basis. The underwriters for the public offering have been granted a 30-day option to purchase up to 600,000additional Series A Preferred Shares.

The estimated net proceeds from the offering are expected to be approximately $96.2 million, after deducting the underwriting discount and our estimated expenses, but before giving effect to any exercise of the underwriters’ option to purchase additional shares. The Company intends to use the net proceeds from this offering to repay amounts outstanding under the Company’s Revolving Facility and other indebtedness and for other general corporate purposes.

The Company intends to file an application to list the Series A Preferred Shares on the New York Stock Exchange. If the application is approved, trading of the Series A Preferred Shares on the New York Stock Exchange is expected to begin within 30 days after the initial issuance of the Series A Preferred Shares. Wells Fargo Securities, LLC, Citigroup and Merrill Lynch, Pierce, Fenner & Smith Incorporated are acting as joint book-running managers for the offering. J.P. Morgan Securities LLC and Stifel, Nicolaus & Company, Incorporated are acting as senior co-managers for the offering, and Deutsche Bank Securities Inc., Janney Montgomery Scott LLC, Mitsubishi UFJ Securities (USA), Inc., Oppenheimer & Co. Inc., PNC Capital Markets LLC and TD Securities (USA) LLC are acting as co-managers for the offering.

A shelf registration statement with respect to this offering was filed previously with the Securities and Exchange Commission and declared effective on January 12, 2012. A preliminary prospectus supplement and related prospectus relating to the offering have been filed with the Securities and Exchange Commission.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering may be made only by means of a prospectus supplement and related prospectus. Copies of the prospectus supplement and related prospectus for this offering may be obtained by contacting Wells Fargo Securities, LLC at 1525 West W.T. Harris Blvd., NC0675, Charlotte, NC 28262, Attention: Capital Markets Client Support, telephone: 1-800-326-5897 or email: cmclientsupport@wellsfargo.com; Citigroup Global Markets Inc. at Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220, Attention: Prospectus Department, telephone: 1-800-831-9146 or email: batprospectusdept@citi.com; or Merrill Lynch, Pierce, Fenner & Smith Incorporated at 4 World Financial Center, New York, NY 10080, Attention: Prospectus Department, telephone: 1-800-294-1322 or email: dg.prospectus_requests@baml.com.

About Pennsylvania Real Estate Investment Trust

Pennsylvania Real Estate Investment Trust, founded in 1960 and one of the first equity REITs in the U.S., has a primary investment focus on retail shopping malls. Currently, the Company’s portfolio consists of 49 properties, including 38 shopping malls, eight community and power centers, and three development properties. The Company’s properties are located in 13 states in the eastern half of the United States, primarily in the Mid-Atlantic region. The operating retail properties have approximately 33 million total square feet of space. PREIT is headquartered in Philadelphia, Pennsylvania. PREIT is publicly traded on the NYSE under the symbol PEI.

Forward-Looking Statements

This press release contains certain “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements relate to expectations, beliefs, projections, future plans, strategies, anticipated events, trends and other matters that are not historical facts. These forward-looking statements reflect our current views about future events, achievements or results and are subject to risks, uncertainties and changes in circumstances that might cause future events, achievements or results to differ materially from those expressed or implied by the forward-looking statements. In particular, our business might be materially and adversely affected by uncertainties affecting real estate businesses generally as well as the following, among other factors: our substantial debt and our high leverage ratio; constraining leverage, interest and tangible net worth covenants under our 2010 Credit Facility; our ability to refinance our existing indebtedness when it matures, on favorable terms or at all, due in part to the effects on us of dislocations and liquidity disruptions in the capital and credit markets; our ability to raise capital, including through the issuance of equity or equity-related securities if market conditions are favorable, through joint ventures or other partnerships, through sales of properties or interests in properties, or through other actions; our short- and long-term liquidity position; current economic conditions and their effect on employment, consumer confidence and spending and the corresponding effects on tenant business performance, prospects, solvency and leasing decisions and on our cash flows, and the value and potential impairment of our properties; general economic, financial and political conditions, including credit market conditions, changes in interest rates or unemployment; changes in the retail industry, including consolidation and store closings, particularly among anchor tenants; our ability to maintain and increase property occupancy, sales and rental rates, in light of the relatively high number of leases that have expired or are expiring in the next two years; increases in operating costs that cannot be passed on to tenants; risks relating to development and redevelopment activities; the effects of online shopping and other uses of technology on our retail tenants; concentration of our properties in the Mid-Atlantic region; changes in local market conditions, such as the supply of or demand for retail space, or other competitive factors; potential dilution from any capital raising transactions; possible environmental liabilities; our ability to obtain insurance at a reasonable cost; and existence of complex regulations, including those relating to our status as a REIT, and the adverse consequences if we were to fail to qualify as a REIT. Additional factors that might cause future events, achievements or results to differ materially from those expressed or implied by our forward-looking statements include those discussed in the section of our Annual Report on Form 10-K in the section entitled “Item 1A. Risk Factors.” We do not intend to update or revise any forward-looking statements to reflect new information, future events or otherwise.





PREIT:
Robert McCadden, 215-875-0735
EVP & CFO
or
Nurit Yaron, 215-875-0735
VP, Investor Relations

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From: dsxt14/17/2012 12:06:49 AM
1 Recommendation   of 12017
 
WB-C call date is 6/15/12. Beware WB-B was called on the call date.

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From: brehm2334/17/2012 8:58:40 AM
2 Recommendations   of 12017
 


REIT Focus: Lasalle Hotel Properties- from S/A

good snap shot---
April 17, 2012 by: Joseph Ori | about: LHO


seekingalpha.com

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From: brehm2334/17/2012 9:00:48 AM
2 Recommendations   of 12017
 





UMH Properties Inc Stock Upgraded (UMH)





UMH upgraded
thestreet.com

By TheStreet Wire 04/17/12 - 06:00 AM EDT

NEW YORK (TheStreet) -- UMH Properties (NYSE:UMH) has been upgraded by TheStreet Ratings from hold to buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share.

Highlights from the ratings report include:
¦ UMH's revenue growth trails the industry average of 17.2%. Since the same quarter one year prior, revenues slightly increased by 5.7%. This growth in revenue does not appear to have trickled down to the company's bottom line, displayed by a decline in earnings per share.
¦ Even though the current debt-to-equity ratio is 1.08, it is still below the industry average, suggesting that this level of debt is acceptable within the Real Estate Investment Trusts (REITs) industry.
¦ Looking at where the stock is today compared to one year ago, we find that it is not only higher, but it has also clearly outperformed the rise in the S&P 500 over the same period, despite the company's weak earnings results. The stock's price rise over the last year has driven it to a level which is somewhat expensive compared to the rest of its industry. We feel, however, that other strengths this company displays justify these higher price levels.
¦ UMH PROPERTIES INC has exprienced a steep decline in earnings per share in the most recent quarter in comparison to its performance from the same quarter a year ago. The company has reported a trend of declining earnings per share over the past two years. During the past fiscal year, UMH PROPERTIES INC reported lower earnings of $0.14 versus $0.52 in the prior year.
¦ The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed when compared to that of the S&P 500 and the Real Estate Investment Trusts (REITs) industry. The net income has significantly decreased by 74.4% when compared to the

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To: brehm233 who wrote (525)4/17/2012 10:52:12 AM
From: freethrow
3 Recommendations   of 12017
 
Re: UMH upgrade.

I am at a loss to understand how all the negatives in the highlights lead to an upgrade?

Help me here?

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From: orchid254/17/2012 10:55:58 AM
   of 12017
 
Bought KIM-I

Bought a small quantity of KIM-I this morning, Not Callable til 3-2017 and yield is about 6% at current price which is under Par.

Orchid

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To: freethrow who wrote (526)4/17/2012 11:39:40 AM
From: brehm233
   of 12017
 
Re: UMH upgrade.


Thanks, I thought I was the only one who questioned the conclusion...hopefully others will not read past the headlines!

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To: brehm233 who wrote (528)4/17/2012 11:44:14 AM
From: CusterInvestor
   of 12017
 
Re: UMH upgrade.

Maybe they are assuming a rebound--reversion to the mean?

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From: CusterInvestor4/17/2012 3:19:27 PM
1 Recommendation   of 12017
 
CapLease Launches Public Offering Of New Series B Preferred Stock


(RTTNews.com) - CapLease, Inc. ( LSE) said Monday that it has commenced an initial public offering of a new Series B Preferred Stock.

The company plans to grant the underwriters of the offering a 30-day option to purchase additional shares of Series B Preferred Stock solely to cover over-allotments, if any.

CapLease said it plans to use the net proceeds of the offering to fund future acquisitions and for other general corporate purposes.

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