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Assets

BX

MGM

O

Realty Income Corp (NYSE:O) plans to invest $950 million to acquire a 21.9% stake in a joint venture that owns 95% of the real estate assets of The Bellagio Las Vegas. The stake is being purchased from Blackstone Real Estate Income Trust, Inc. of Blackstone Inc (NYSE:BX) for around $300 million. Realty Income will also acquire a yield-bearing preferred equity interest in the joint venture for $650 million. The transaction is expected to close in Q4 2023. MGM Resorts International (NYSE:MGM) will retain a 5.0% ownership in the asset.

Portfolio Pulse from Lekha Gupta

August 25, 2023 | 2:10 pm

MCO

Moody's (NYSE:MCO) has outperformed the market over the past 15 years, producing an average annual return of 15.0%. If an investor had bought $1000 of MCO stock 15 years ago, it would be worth $8,230.45 today.

Portfolio Pulse from Benzinga Insights

August 25, 2023 | 2:00 pm

BN

Brookfield (NYSE:BN) has outperformed the market over the past 20 years, producing an average annual return of 13.0%. If an investor had bought $100 of BN stock 20 years ago, it would be worth $1,152.13 today. The company currently has a market capitalization of $52.99 billion.

Portfolio Pulse from Benzinga Insights

August 25, 2023 | 2:00 pm

BONEUSD

BTCUSD

ETHUSD

PEPEUSD

Bitcoin and Ethereum recorded losses but remained above key levels of $26,000 and $1,600 respectively. Bone ShibaSwap was the top gainer over the past 24 hours, while Pepe was the biggest loser. The global crypto market cap fell to $1.05 trillion, a 24-hour decline of 1%.

Portfolio Pulse from Lisa Levin

August 25, 2023 | 1:32 pm

CPG

Crescent Point Energy Corporation (NYSE:CPG) has agreed to sell its North Dakota assets for $500 million to a private operator, reportedly Kraken Resources, to accelerate its debt repayment. This has led to a reduction in its 2023 annual average production guidance and its development capital expenditures guidance for 2023. The company's net debt is expected to be less than C$2.2 billion by year-end, down from C$3 billion at the end of Q2.

Portfolio Pulse from Nabaparna Bhattacharya

August 25, 2023 | 1:30 pm

HPP

Hudson Pacific Properties (HPP) has raised $72M through the sale of two Los Angeles office properties. The company expects to recognize a gain of $22M from these dispositions in Q3.

Portfolio Pulse from Benzinga Newsdesk

August 25, 2023 | 1:03 pm

BA

NOC

An F-18 military jet has reportedly crashed near MCAS Miramar, according to CBS Reporter, Eric Kahnert. The condition of the pilot and/or others onboard is currently unknown.

Portfolio Pulse from Happy Mohamed

August 25, 2023 | 12:52 pm

KIM

Kimco Realty Corp (NYSE:KIM) has acquired Stonebridge at Potomac Town Center in Virginia for $172.5 million. The grocery-anchored lifestyle center is 96% occupied and spans 504,000 square feet. The acquisition will allow Kimco to create three outparcel retail buildings, boost density through mixed-use development, and recapture the below-market leases.

Portfolio Pulse from Lekha Gupta

August 25, 2023 | 12:43 pm

BX

O

Realty Income Corporation has signed an agreement with Blackstone Real Estate Income Trust to invest $950 million in Bellagio Las Vegas, valuing the property at $5.1 billion.

Portfolio Pulse from Benzinga Newsdesk

August 25, 2023 | 12:14 pm

HEINY

Heineken NV has closed the sale of its Russian operations to Arnest Group, taking a non-cash exceptional loss of €300 million. The company sold the Russian business for €1 and transferred all remaining assets, including seven breweries. Heineken expects the deal to have a negligible impact on diluted EPS and no impact on the FY23 outlook. The company's H1 2023 revenue grew by 6.3% Y/Y to €17.44 billion, but EPS declined by 7.3% Y/Y to €2.04.

Portfolio Pulse from Lekha Gupta

August 25, 2023 | 12:14 pm