Merger Madness Among REITs Heats Up This Summer
Portfolio Pulse from Ethan Roberts
The real estate investment trust (REIT) sector has seen a surge in merger and acquisition (M&A) activity. AG Mortgage Investment Trust (NYSE:MITT) has offered to acquire Western Asset Mortgage Capital Corp. (NYSE:WMC), disrupting a potential merger with Terra Property Trust Inc. Global Net Lease Inc. (NYSE:GNL) plans to acquire Necessity Retail REIT Inc. (NASDAQ:RTL) to diversify its holdings. Office Properties Income Trust (NASDAQ:OPI) acquired Diversified Healthcare Trust (NASDAQ:DHC) in an all-share transaction, despite opposition from shareholders. Extra Space Storage Inc. (NYSE:EXR) and Life Storage Inc. (NYSE:LSI) merger was approved by shareholders, and Ellington Financial Inc. (NYSE:EFC) announced its acquisition of Arlington Asset Investment Corp. (NYSE:AAIC) and Great Ajax Corp. (NYSE:AJX).
July 27, 2023 | 8:15 pm
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POSITIVE IMPACT
Ellington Financial Inc. announced its acquisition of Arlington Asset Investment Corp. and Great Ajax Corp.
The announced acquisitions by EFC could potentially increase its market share and diversify its portfolio, which could lead to a positive impact on its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Extra Space Storage Inc.'s merger with Life Storage Inc. was approved by shareholders.
The approved merger could potentially increase EXR's market share and diversify its portfolio, which could lead to a positive impact on its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Global Net Lease Inc. plans to acquire Necessity Retail REIT Inc. to diversify its holdings.
The planned acquisition by GNL could potentially diversify its portfolio and increase its market share, which could lead to a positive impact on its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
AG Mortgage Investment Trust has offered to acquire Western Asset Mortgage Capital Corp., disrupting a potential merger with Terra Property Trust Inc.
The acquisition offer by MITT could potentially increase its market share and diversify its portfolio, which could lead to a positive impact on its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Western Asset Mortgage Capital Corp. is the target of an acquisition offer from AG Mortgage Investment Trust, disrupting a potential merger with Terra Property Trust Inc.
The acquisition offer for WMC could potentially increase its stock price due to the premium offered by MITT.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Office Properties Income Trust acquired Diversified Healthcare Trust in an all-share transaction, despite opposition from shareholders.
The acquisition by OPI could potentially increase its market share and diversify its portfolio, but the opposition from shareholders could lead to uncertainty and a neutral impact on its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100