Education Realty Trust Inc., a new Memphis-based company formed to own and manage student housing communities, has priced an initial public offering of 19 million shares of common stock at $16 per share.J.P. Morgan Securities Inc. and UBS Investment Bank were the joint book-running managers of the offering, the company said. The underwriters have been granted an option to buy up to 2.745 million additional shares to cover any overallotments. The shares of the new company are trading on the New York Stock Exchange under the symbol EDR. The company said it will elect to be taxed as a real estate investment trust.
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While income decreased from the fourth quarter, it accelerated on an annual basis across NVR's building and lending units.
2h ago -
Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.
3h ago -
Prevention through new building standards and mapping technology aim to keep home insurance rates down but mortgage bankers see challenges.
9h ago -
The mortgage lender and servicer announced that Ranjit Bhattacharjee, a capital markets veteran, and Kevin Barker, a financial analyst with two decades of experience, have joined its ranks.
10h ago -
Because of rising home values, more transactions have proceeds over the federal tax exemption, especially in California, a CoreLogic study found.
April 23 -
Texas Capital Bank wants to bring the Administrative Procedures Act into the case, but Ginnie Mae said the legal proceedings are outside its scope.
April 23