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 story : Healthcare Trust stock surges after activist investor urged REIT to explore a buyout deal #FinanceUSA #StockMarketNEWS Shares of Healthcare Trust of America Inc. surged 2.5% toward a 19-month high

@stockMarketNEWS 16 Days ago

Posted in: #FinanceUSA #StockMarketNEWS

Healthcare Trust stock surges after activist investor urged REIT to explore a buyout deal #FinanceUSA #StockMarketNEWS
Shares of Healthcare Trust of America Inc. surged 2.5% toward a 19-month high in premarket trading Monday, after activist investor Elliott Investment Management L.P. urged the real estate investment trust that owns and operates medical office buildings to explore a sale. In a letter to Healthcare Trust's board, Elliott said given the company's "long-term underperformance" relative to its peers, broader REIT sector and the broader stock market, the "status quo is untenable" as the company's cost of capital makes it uncompetitive. Elliott said it was "confident that highly credible buyers will present compelling offers to acquire the company at a substantial premium to the current trading price," and prices seen since the recent resignation of Chief Executive Scott Peters. The stock, on track to open at the highest price seen during regular-session hours since March 2020, has rallied 21.5% over the past 12 months, while the SPDR Real Estate Select Sector ETF has climbed 20.8% and the S&P 500 has advanced 26.3%.


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