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Real Estate Briefing - Categorized | IPOs/Stock Market, REITs more

American Assets’ $500 mln offering launches this year’s REIT IPO market

Posted on 13 January 2011

From Dow Jones: The IPO market for real estate investment trusts this year is being kicked off this year by a $500 million offering from San Diego-based commercial landlord American Assets Trust Inc. (AAT).
The deal, slated to begin trading Thursday, is a good start for the REIT initial public offering market as investors clamor around the deal. Though American Assets carries a relatively modest dividend of 4.2%, analysts say it is grabbing attention because the stock is being marketed at an attractive price relative to the underlying properties, which are 95% leased and based in affluent areas of California and Hawaii……………………………………….Full Article: Source


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