Company Overview and News
Pennsylvania Real Estate Investment Trust (PEI - Free Report) — better known as PREIT — is leaving no stone unturned to drive tenants and traffic at its malls. Recently, the company announced execution of flexible leases with fashion retailer, Love Culture, at four of its properties. The move comes as part of the company’s merchandise differentiation effort. The company noted that the fashion retailer would open stores at Viewmont Mall in Scranton, PA; Woodland Mall in Grand Rapids, MI; Patrick Henry Mall in Newport News, VA; and Willow Grove Park in Willow Grove, PA.
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Agree Realty Corporation (ADC - Free Report) recently concluded the private placement of $125 million of senior unsecured notes to various institutional investors. These notes carry a fixed interest rate of 4.32% and will mature on Sep 26, 2030. Agree Realty has planned to use the proceeds from this issuance to pay for its unsecured revolving credit facility and general corporate needs. Excluding the unsecured revolving credit facility, the company’s weighted-average debt maturity is now 8.
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Retail REIT Kimco Realty Corp. (KIM - Free Report) has been experiencing decent demand for its Mill Station Signature Series Development project in Baltimore County, MD. Most recently, the company announced the addition of preeminent grocery banner — Giant Food — a subsidiary of Ahold Delhaize USA, to its anchor lineup at this project. It will occupy 66,450 square feet at the Mill Station. With the incorporation of Giant, the company has been able to achieve approximately 90% of leasing for its $108-million Signature Series development project.
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Vornado Realty Trust (VNO - Free Report) recently purchased 46% share in a retail condominium, for $442 million, from Host Hotels & Resorts, Inc. (HST - Free Report) . Vornado already owns 54% interest in the property, and this acquisition makes it the sole owner of the condominium. The property is located at the base of the New York Marriott Marquis Times Square hotel. This acquisition has been made, per the initial agreement.
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Realty Income Corporation (O - Free Report) recently announced its 98th dividend hike since the company’s NYSE listing in 1994. The company will now pay 22.05 cents per share compared with the 22 cents paid earlier. Realty Income will pay the dividend on Oct 15 to shareholders on record as of Oct 1, 2018. The latest dividend rate marks an annualized amount of $2.646 per share versus the prior rate of $2.
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Retail REIT Simon Property Group (SPG - Free Report) and Macerich (MAC - Free Report) are collaborating to create Los Angeles Premium Outlets. The move is aimed at luring the high-density affluent neighborhood and international tourists, and leverage on the improving spending habits of wealthier customers amid improving economy. Particularly, Simon and Macerich have announced the formation of a 50/50 joint venture for this project that is expected to begin immediately and slated for an opening for fall 2021.
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CBL Properties (CBL - Free Report) recently announced that it has partnered with international fashion and lifestyle brand — RACHEL Rachel Roy — for the brand’s first in-mall stand-alone outlet at Oak Park Mall.
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Dwindling mall traffic, amid shift of consumers toward online channels, store closures and bankruptcy of retailers have emerged as pressing concerns for most retail REITs, including Urban Edge Properties (UE - Free Report) , Taubman Centers, Inc. (TCO - Free Report) and Macerich Company (MAC - Free Report) . However, Realty Income Corporation (O - Free Report) has been able to differentiate itself by deriving more than 90% of its annualized retail rental revenues from tenants with a service, non-discretionary, and/or low price point component to their business.
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Amid the retail apocalypse, mall landlords are making concerted efforts to boost their asset productivity by trying to grab attention from new and productive tenants, and disposing the non-productive ones. The companies are avoiding heavy dependence on apparel and accessories, and rather expanding their dining options, opening movie theaters, offering recreational facilities and opening fitness centers.
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2018-10-01 - Asif
Overview The following discussion and analysis should be read in conjunction with its unaudited interim condensed consolidated financial statements and the related notes that appear elsewhere in this quarterly report on Form 10-Q. This discussion contains forward-looking statements reflecting its current expectations that involve risks and uncertainties. Actual results may differ materially from those discussed in these forward-looking statements due to a number of factors, including those set forth in the section entitled “Risk Factors” in its most recent annual report on Form 10-K. For further information regarding forward-looking statements, please refer to the “Special Note Regarding Forward-Looking Statements and Projections” immediately after the index to this quarterly report on Form 10-Q. Alimera Sciences, Inc., and its subsidiaries (we or Alimera), is a pharmaceutical company that specializes in the commercialization and development of prescription ophthalmic pharma...
2018-09-25 - Asif
Background DelMar Pharmaceuticals, Inc. is a clinical stage drug development company with a focus on the treatment of cancer. The company's mission is to benefit patients and create shareholder value by developing and commercializing anti-cancer therapies for patients whose tumors exhibit features that make them resistant to, or unlikely to respond to, currently available therapies, particularly for orphan cancer indications where patients have failed, or are unlikely to respond to, currently available therapy. DelMar Pharmaceuticals is developing VAL-083, a novel, DNA-targeting agent, for the treatment of glioblastoma multiforme (“GBM”) and potentially other solid tumors, including ovarian cancer. VAL-083 is a first-in-class, DNA-targeting chemotherapeutic that demonstrated activity against a range of tumor types in prior Phase 1 and Phase 2 clinical studies sponsored by the US National Cancer Institute (“NCI”). The company's recent research has highlighted the opportunit...
2018-09-18 - Asif
Overview Rigel Pharmaceuticals is a biotechnology company dedicated to discovering, developing and providing novel small molecule drugs that significantly improve the lives of patients with immune and hematologic disorders, cancer and rare diseases. The company's pioneering research focuses on signaling pathways that are critical to disease mechanisms. The company's first FDA-approved product is TAVALISSE™ (fostamatinib disodium hexahydrate), an oral spleen tyrosine kinase (SYK) inhibitor, for the treatment of adult patients with chronic immune thrombocytopenia who have had an insufficient response to a previous treatment. The company's current clinical programs include Phase 2 studies of fostamatinib in autoimmune hemolytic anemia and IgA nephropathy, and a Phase 1 study for its IRAK program. In addition, Rigel Pharmaceuticals has product candidates in development with partners BerGenBio AS, Daiichi Sankyo, and Aclaris Therapeutics. Since inception, Rigel Pharmaceuticals h...
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