Technical Roundup on REIT Stocks -- CubeSmart, Communications Sales & Leasing, Public Storage, and First Industrial Realty Trust
NEW YORK, October 10, 2016 /PRNewswire/ --
Industrial REITs are becoming more and more attractive despite a slowing global economy as consumer-driven e-commerce is pushing demand for modern logistics facilities in new locations around the world. This morning, Stock-Callers.com presents four companies for review: CubeSmart (NYSE: CUBE), Communications Sales & Leasing Inc. (NASDAQ: CSAL), Public Storage (NYSE: PSA), and First Industrial Realty Trust Inc. (NYSE: FR). Sign up today and download for free the research reports for the stocks covered today at:
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CubeSmart
Last Friday, Malvern, Pennsylvania-based CubeSmart's stock climbed 1.23%, to close the day at $26.34 with a total trading volume of 1.71 million shares. Shares of the Company, which invests in the real estate markets of the US, are trading 4.07% below their 50-day moving average. The stock has a Relative Strength Index (RSI) of 40.80.
On October 3rd, 2016, CubeSmart announced that it will release financial results for the three and nine month periods ended September 30th, 2016 after the market close on October 27th, 2016. An accompanying conference call will be held at 11:00 a.m. ET on October 28th, 2016. CUBE complete research report is just a click away at:
http://stock-callers.com/registration/?symbol=CUBE
Communications Sales & Leasing
Shares in Little Rock, Arkansas-based Communications Sales & Leasing Inc. saw a slight decline of 0.81%, finishing Friday's session at $29.21. The stock recorded a trading volume of 988,590 shares. The Company's shares have gained 67.53% on an YTD basis. The stock is trading above its 200-day moving average by 21.73%. Furthermore, shares of Communications Sales & Leasing, which engages in the acquisition and construction of mission critical communications infrastructure; and provision of wireless infrastructure solutions for the communications industry, have an RSI of 37.07.
As per notes filed with the SEC on October 5th, 2016, the company announced that it is seeking to amend its existing senior secured credit agreement. Among other things, the amendment would (i) reprice in full the company's existing term loans, and (ii) modify certain provisions to permit the company to operate through a customary "up-REIT" structure, should it choose to operate through such a structure in the future. Use of such a structure is intended to facilitate future acquisition opportunities by providing the company with the ability to use operating partnership units as a tax-efficient acquisition currency in certain acquisitions of assets or entities that are structured as limited liability companies or other pass-through entities. The complimentary report on CSAL can be downloaded at:
http://stock-callers.com/registration/?symbol=CSAL
Public Storage
Glendale, California-based Public Storage's stock finished 0.38% higher at $212.05 with a total trading volume of 713,031 shares. Shares of the Company, which invests in real estate markets of US and Europe, are trading below their 50-day moving average by 5.07%. The stock has an RSI of 36.82.
On October 6th, 2016, John Reyes, Senior Vice President and Chief Financial Officer of Public Storage, announced that the company has priced a public offering of 14,000,000 depositary shares at $25.00 per depositary share, with each depositary share representing 1/1,000 of a 4.90% Cumulative Preferred Share of Beneficial Interest, Series E. The offering is expected to result in $350 million of gross proceeds and to close on or about October 14th, 2016, subject to customary closing conditions. The company expects to use the net proceeds to make investments in self-storage facilities and in entities that own self-storage facilities, for the development of self-storage facilities and for general corporate purposes. Sign up for your complimentary report on PSA at:
http://stock-callers.com/registration/?symbol=PSA
First Industrial Realty Trust
Shares in US-domiciled First Industrial Realty Trust Inc. ended last Friday's session 0.50% lower at $26.03. The stock recorded a trading volume of 1.01 million shares, which was above its three months average volume of 822,960 shares. The Company's shares have advanced 20.27% on an YTD basis. The stock is trading 6.74% above its 200-day moving average. Moreover, shares of First Industrial Realty Trust, which invests in the real estate markets of the US, have an RSI of 30.22.
As per notes filed with the SEC on September 23rd, 2016, the Board approved the appointment of Mr. Baccile on September 22nd, 2016, as the Company's President effective as of September 29th, 2016. The Board also approved a resolution to expand the size of the Board to seven directors and elected Mr. Baccile to serve as a member of the Board effective upon his appointment as its President. Also on September 22nd, 2016, the Board approved an annual retainer of $25,000 for the position of lead independent director, which will be in addition to compensation generally applicable to directors. The position of lead independent director is currently held by John Rau. Download the research report for free on FRat:
http://stock-callers.com/registration/?symbol=FR
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