3 Low-Priced REITs Making Big Moves
Portfolio Pulse from Ethan Roberts
Three low-priced REITs, Diversified Healthcare Trust (DHC), Uniti Group Inc. (UNIT), and City Office REIT Inc. (CIO), have experienced significant price increases this week. DHC's shares rose 37.28% after investment adviser firm Flat Footed LLC expressed its intent to vote against the proposed merger with Office Properties Income Trust (OPI). UNIT's shares increased 11.86% without any news, while CIO's shares went up 9.7%.
June 09, 2023 | 8:09 pm
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POSITIVE IMPACT
CIO's shares went up 9.7% this week, following the trend of other low-priced office REITs experiencing significant price increases.
CIO's share price increased this week, following the trend of other low-priced office REITs experiencing significant price increases. The overall positive sentiment in the office REIT subsector may have contributed to the stock's short-term price increase.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
DHC's shares rose 37.28% after Flat Footed LLC, a top shareholder, expressed its intent to vote against the proposed merger with OPI, questioning the deal's valuation.
DHC's share price increased significantly after Flat Footed LLC expressed its intent to vote against the proposed merger with OPI. The opposition from a top shareholder and the questions raised about the deal's valuation could lead to a reevaluation of the merger, potentially benefiting DHC shareholders in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
UNIT's shares increased 11.86% without any news, possibly driven by investor confidence in the company's $0.15 per share quarterly dividend.
UNIT's share price increased without any news, which could be attributed to investor confidence in the company's dividend. The lack of negative news and the potential for continued dividend payments may have contributed to the stock's short-term price increase.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100