During Tuesday’s Current trade, Shares of RLJ Lodging Trust (NYSE:RLJ), lost -2.08% to $26.33.
RLJ Lodging Trust (the “Company”) (RLJ) declared that it has opened its Courtyard San Francisco Union Square Hotel (the “Hotel”) located in San Francisco, CA. The Hotel underwent a comprehensive renovation which comprised of adding 16 new rooms.
Located just three blocks from the historic Union Square in San Francisco, the Hotel was constructed in 1930 and most recently operated as a 150-room, student housing facility. The Company attained the Hotel, formerly known as the Vantaggio Suites Cosmo in June 2013 and subsequently closed the property. After an extensive renovation, the property reopened as a 166-room Courtyard by Marriott. The all-in investment of $56.5 million, or about $340,000 per key, represents a noteworthy discount to replacement cost. The Company anticipates a forward capitalization rate of about 8.6% based on the Hotel’s projected 2016 net operating income.
San Francisco serves as a major gateway market and is ranked as one of the top ports of entry for international travelers to the country and one of the most important transportation centers in the western U.S. About 4.1 million international tourists visited San Francisco in 2014. Since 2009, international visitor spending has raised 71.0%, outpacing domestic visitor spending almost three-to-one. In July, total airline passenger volume at the San Francisco International Airport raised by 6.6%; and, raised 5.1% for the first seven months of the current year.
RLJ Lodging Trust is an independent equity real estate investment trust. The firm also manages real estate funds. It invests in the real estate markets of the United States. The firm primarily invests in premium-branded, focused service, and compact full-service hotels.
Shares of Centene Corp (NYSE:CNC), declined -1.39% to $61.91, during its current trading session.
Centene Corporation (CNC)’s 2015 special meeting of shareholders is planned to take place on October 23, 2015 at 1:00 p.m. Eastern Time (12:00 p.m. Central Time). The meeting will be held at 7700 Forsyth Boulevard, St. Louis, Missouri 63105.
Centene Corporation operates as a diversified, multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. It operates in two segments, Managed Care and Specialty Services. The Managed Care segment offers Medicaid and Medicaid-related health plan coverage to individuals through government subsidized programs, counting Medicaid, the State children’s health insurance program, long-term care, foster care, and dual-eligible individuals, in addition to aged, blind, or disabled programs.
Chambers Street Properties (NYSE:CSG), during its Tuesday’s current trading session decreased -0.14% to $6.92.
Chambers Street Properties (CSG), a real estate investment trust focused on acquiring, owning and operating net leased industrial and office properties, recently declared it has accomplished one industrial and two office lease renewals totaling 814,614 square feet.
The leasing renewals are highlighted by an early office building renewal and five-year lease extension with Raytheon Company (“Raytheon”) for 602,794 square feet at Pacific Corporate Park located near Washington, D.C., extending the planned lease expiration through 2026. Raytheon is a leading technology firm specializing in defense, civil, government, and cybersecurity markets throughout the world.
The Company also executed an early renewal and extension with FMC Corporation (“FMC”) for the entire 110,765 square feet at the Company’s 701 & 801 Charles Ewing Boulevard office properties. With the execution of the lease, the lease was extended an additional six years for a fixed 15-year term expiring in 2030.
Chambers Street Properties is a equity real estate investment trust. The firm invests in the real estate markets of United States, United Kingdom, and Germany. It focuses on acquiring, owning and operating the properties.
Finally, Chicago Bridge & Iron Company N.V. (NYSE:CBI), decreased -4.71%, to $41.67.
CB&I (CBI) declared the record date for its interim dividend on common stock of $0.07 per share is September 21, 2015, rather than September 18, 2015. The September 30, 2015, payment date remains the same.
Chicago Bridge & Iron Company N.V. provides conceptual design, technology, engineering, procurement, fabrication, modularization, construction, commissioning, maintenance, program administration, and environmental services worldwide. The company’s Engineering, Construction and Maintenance segment offers engineering, procurement, and construction services for energy infrastructure facilities, in addition to comprehensive and integrated maintenance services.
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