On Monday, Public Service Enterprise Group Inc. (NYSE:PEG)’s shares inclined 0.78% to $40.01.
Public Service Enterprise Group Inc. (PEG) and Robert Wood Johnson University Hospital Rahway recently marked the completion of $3.4 million in energy efficiency improvements that will save the acute care hospital more than $300,000 annually in energy costs.
The work was accomplished through the PSE&G Hospital Efficiency Program, a $174 million effort by New Jersey’s oldest and largest gas and electric utility that will assist more than 40 hospitals to better manage their energy consumption.
The energy efficiency work is part of a multi-year renovation at RWJ Rahway that comprises a newly redesigned main entrance and lobby, a renovated Critical Care Unit, and the new Center for Ambulatory Medicine, which comprises the Center for Wound Healing and Hyperbaric Medicine, Diabetes Counseling and Weight Administration, Neuropathy Clinic, physician offices and other services. Presently under renovation are diagnostic services such as radiology, laboratory and cardiac stress testing, in addition to patient rooms.
The energy efficiency improvements at RWJ Rahway comprise a major upgrade to the hospital’s air conditioning chiller plant, the installation of energy efficient lighting fixtures, the replacement of old, inefficient motors with new energy efficient models and the retrofitting of existing heating boilers with new energy efficient burners.
Public Service Enterprise Group Incorporated, through its auxiliaries, operates as an energy company primarily in the northeastern and Mid Atlantic United States. The company operates nuclear, coal, gas, oil-fired, and renewable generation facilities with a generation capacity of about 13,146 megawatts. It sells electricity, natural gas, emissions credits, and a series of energy-related products that are used to optimize the operation of the energy grid.
Invesco Ltd. (NYSE:IVZ)’s shares dropped -0.13% to $39.42.
Invesco Advisers, Inc., a partner of Invesco Ltd. (IVZ). Invesco Mortgage Capital Inc. (IVR) declared that its Board of Directors declared quarterly dividends on shares of its common stock and Series A and Series B preferred stock.
The Company’s Board of Directors declared a cash dividend of $0.45 per share of common stock for the second quarter of 2015. The dividend will be paid on July 28, 2015 to stockholders of record on June 26, 2015, with an ex-dividend date of June 24, 2015.
Invesco Ltd. is a publicly owned investment manager. The firm provides its services to retail clients, institutional clients, high-net worth clients, public entities, corporations, unions, non-profit organizations, endowments, foundations, pension funds, financial institutions, and sovereign wealth funds. It manages separate client focused equity, balanced, and fixed income portfolios.
At the end of Monday’s trade, Senior Housing Properties Trust (NYSE:SNH)‘s shares dipped -0.44% to $18.13.
Senior Housing Properties Trust (SNH), Hospitality Properties Trust (HPT), Select Income REIT (SIR) and Government Properties Income Trust (GOV) (each a “REIT” and, collectively, the “REITs”) recently declared that they have attained combined economic ownership of about half of Reit Administration & Research LLC (“RMR”). Each of the REITs is managed by RMR and, simultaneously with the REITs’ acquisition of ownership in RMR, the administration agreements with RMR were amended and extended for 20 year terms. The REITs’ ownership in RMR is held indirectly through a new holding company of RMR (“RMR INC”). Following the agreements entered for this transaction, the REITs have agreed to distribute about half of the RMR INC shares held by them to their shareholders as a special dividend, and RMR INC has agreed to facilitate this by filing a registration statement with the Securities and Exchange Commission (the “SEC”) to register the RMR INC shares to be distributed and by seeking a listing of those shares on a national stock exchange upon the registration statement being declared effective by the SEC.
In addition to the value of the RMR INC shares distributed to the REITs’ shareholders, the predictable benefits of these transactions to the REITs’ shareholders comprise:
- Further alignment of interests among RMR administration, the REITs and the REITs’ shareholders because the REITs and their shareholders own RMR INC shares.
- Further alignment of interests among RMR administration, the REITs and the REITs’ shareholders because the historical owners of RMR have become owners of a noteworthy number of restricted shares of each of the REITs and those shares are subject to 10 year lock up agreements.
- Providing greater transparency for the REITs’ shareholders into RMR administration, counting RMR’s financial and operating results.
- The REITs will continue to benefit from low general and administrative costs which RMR administration provides to each REIT.
Government Properties Income Trust is a real estate investment trust (REIT). The Company operates in two business segments: ownership of properties that are primarily leased to Government tenants and its equity method investment in Select Income REIT (SIR). The Company’s properties are located in Alabama, Arizona, California, Florida, Kentucky, Massachusetts, New Jersey, New York, Texas, Washington and Wyoming. The Company’s properties (64 buildings), with about 7.7 million rentable square feet, are primarily leased to the United States Government, 18 of those properties (24 buildings), with about 2.6 million rentable square feet primarily leased to 12 state governments, one of those properties (one building), with 187,060 Rentable square feet, is leased to the United Nations, an international intergovernmental organization, and three of those properties (three buildings), with 507,788 rentable square feet primarily leased to non-government tenants.
Time Warner Inc (NYSE:TWX), ended its Monday’s trading session with 0.20% gain, and closed at $86.18.
Time Warner Inc (TWX) declared that it has priced a $1.5 billion underwritten public offering of 3.60% senior notes due 2025 at a price equal to 99.760% of their face amount and a $600 million underwritten public offering of 4.85% debentures due 2045 at a price equal to 99.929% of their face amount. The net proceeds from the issuance of the notes and debentures will be used for general corporate purposes, counting share repurchases and the retirement at maturity of Time Warner’s outstanding 3.15% Notes due 2015.
The notes and debentures will be issued by Time Warner and guaranteed by Historic TW Inc. In addition, Home Box Office, Inc. and Turner Broadcasting System, Inc. will guarantee the obligations of Historic TW Inc. under its guarantee. The guarantee structure for the notes and debentures will be the same as the structure for the notes and debentures Time Warner has issued since 2010.
The offering is being made following an effective registration statement on Form S-3 filed with the Securities and Exchange Commission (“SEC”). Interested parties should read the prospectus comprised of in such registration statement and the prospectus supplement for the offering and other documents that Time Warner has filed with the SEC for more complete information about Time Warner and the offering.
Time Warner Inc. operates as a media and entertainment company in the United States and internationally. It operates through three segments: Turner, Home Box Office, and Warner Bros. The Turner segment owns and operates a portfolio of cable television networks and related properties that offer entertainment, sports, kids, and news programming on television and digital platforms for consumers. It operates about 165 channels in 200 countries.
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