On Wednesday, Government Properties Income Trust (NYSE:GOV)’s shares declined -0.21% to $18.85.
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.
Mobileiron Inc (NASDAQ:MOBL)’s shares gained 6.86% to $6.39.
Mobileiron Inc (MOBL) declared that it is working with Google to bring the MobileIron AppConnect framework to the Android for Work platform.
Google’s release of Android for Work earlier this year delivered a unified way to secure enterprise apps, and to separate work and personal data on Android V5.0 using an EMM platform like MobileIron. On Android V5.0, the combination of MobileIron and Android for Work allowed Android apps to be installed and run in a secure workspace on the device without any modification to those apps. Because the security controls are at the OS-level, they can be applied to any app running on that OS.
However, many organizations have devices running prior versions of Android, specifically V4.0 to V4.4. These devices do not have Android for Work security controls at the OS-level, so Google recently released the Android for Work App. This standalone app provides a secure workspace into which other enterprise apps can be installed and therefore protected from unauthorized access. However, this cannot be done without modification to the app itself.
MobileIron, Inc. provides a purpose-built mobile IT platform that enables enterprises to secure and manage mobile applications, content, and devices while providing their employees with device choice, privacy, and a native user experience.
At the end of Wednesday’s trade, Expedia Inc (NASDAQ:EXPE)‘s shares surged 3.00% to $108.17.
Expedia Inc (EXPE) unveiled several major updates to its award-winning Expedia® mobile apps, in response to recent company research on mobile travel behaviors. The updates enable a more complete, one-stop travel resource, featuring access to an enormous selection of flights, hotels and now rental cars, as well as a number of local activity options in top U.S. destinations.
Recent Expedia app updates include:
- Rental Cars: With Expedia mobile app customers increasingly citing rental car bookings as a “wish list” feature, the company added the ability to book rental cars.
- Local Activities: Expedia added local activities in top U.S. destinations to help travelers book excursions, get tickets to shows, and undertake other activities across a range of ages and interests. This feature, and rental car availability, are currently available in the U.S., and will be rolling out to the Expedia app in the UK, Canada and other markets in the coming months.
- Book Now, Pay Later: The Expedia mobile app now offers more choice in hotel purchases with “Book Now, Pay Later,” which enables customers to reserve a room (for select hotels) without worrying about payment until check-in.
Expedia, Inc., together with its auxiliaries, operates as an online travel company in the United States and internationally. The company operates in two segments, Leisure and Egencia.
Garmin Ltd. (NASDAQ:GRMN), ended its Wednesday’s trading session with 1.55% gain, and closed at $46.43.
Garmin Ltd. (GRMN) declared that it has been approved as a certified supplier of marine electronics for Independent Boat Builders Incorporated (IBBI), a purchasing cooperative of 20 highly-respected member/owners that manufacture more than 40 boat brands.
Garmin is one of only two marine electronics providers that are certified by IBBI to work with its members, which comprise boat brands designed for the fishing, cruising, and skiing markets.
Garmin’s portfolio comprises some of the industry’s most sophisticated chart plotters and touch screen multifunction displays, sonar technology, high-definition radar, autopilots, high-resolution mapping, sailing instrumentation and other products and services that are known for innovation, reliability, and ease-of-use.
Garmin Ltd., together with its auxiliaries, designs, develops, manufactures, and markets hand-held, wrist-based, and portable and fixed-mount global positioning system (GPS) enabled products; and other navigation, communication, and information products worldwide. It operates in five segments: Automotive/Mobile, Aviation, Marine, Outdoor, and Fitness.
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