Breaking News Instant updates and real-time market news.

AINC

Ashford

$96.48

0.48 (0.50%)

, AHT

Ashford Hospitality

$6.64

-0.09 (-1.34%)

08:05
04/09/18
04/09
08:05
04/09/18
08:05

Ashford to acquire Remington's Project Management division for $203M

Ashford (AINC) announced that it has signed a definitive agreement to acquire the Project Management business of privately-held Remington Holdings. The transaction, which is expected to close during the third quarter of 2018, is subject to approval by the Company's stockholders and customary closing conditions. Remington's Project Management provides comprehensive and cost-effective design, development, and project management services for both Remington managed hotels as well as external partners. It provides project oversight, coordination, planning, and execution of renovation, capital expenditure or ground-up development projects. Its operations are responsible for managing and implementing substantially all capital improvements at Ashford Hospitality Trust (AHT) and Ashford Hospitality Prime (AHP). Additionally, it has extensive experience working with many of the major hotel brands in areas of renovating, converting, developing or repositioning hotels. In 2017, Remington Project Management had revenues of approximately $29M and adjusted EBITDA of approximately $16.3M. Under the terms of the agreement, the Company will acquire Remington's Project Management business for a total transaction value of $203M. The purchase price will be paid by issuing voting, convertible preferred stock to the sellers. The newly created convertible preferred stock will have a conversion price of $140 per share (a 45% premium to the current trading level) and, if converted immediately after the consummation of the transaction, would convert into 1,450,000 shares of common stock. Dividends on the convertible preferred stock are payable at an annual rate of 5.5% in the first year, 6.0% in the second year, and 6.5% in the third year and each year thereafter. Voting rights of the convertible preferred stock will be on an as-converted basis and the holders of the convertible preferred stock will have a voting limit of 25% of the Company's voting securities for five years. Upon closing of the transaction, the sellers will have the right to nominate two directors to the Company's Board of Directors. The transaction does not require a private letter ruling from the Internal Revenue Service. Upon the unanimous recommendation of the special committee, the independent and disinterested members of the Company's Board of Directors unanimously approved the transaction and recommended its approval by the Company's stockholders.

AINC

Ashford

$96.48

0.48 (0.50%)

AHT

Ashford Hospitality

$6.64

-0.09 (-1.34%)

AHP

Ashford Hospitality Prime

$10.31

-0.02 (-0.19%)

  • 03

    May

  • 04

    May

  • 04

    May

  • 23

    May

AINC Ashford
$96.48

0.48 (0.50%)

06/22/17
06/22/17
INITIATION
Target $25

Outperform
Ashford initiated with an Outperform at FBR Capital
FBR Capital analyst Bryan Maher initiated Ashford with an Outperform and a a $25 price target.
11/07/17
RILY
11/07/17
DOWNGRADE
Target $81
RILY
Neutral
Ashford downgraded to Neutral from Buy at B. Riley FBR
B. Riley FBR analyst Bryan Maher downgraded Ashford to Neutral with an increased price target of $81 citing valuation. The analyst raised his estimates for the company to reflect J&S Audio Visual acquisition.
AHT Ashford Hospitality
$6.64

-0.09 (-1.34%)

12/14/17
STFL
12/14/17
NO CHANGE
STFL
Stifel cautious on Lodging REITs in 2018 with cycle seen near end
Stifel analyst Simon Yarmak is recommending being underweight Lodging REITs in 2018 citing his belief the lodging cycle is reaching the end and that several major REIT markets face supply issues. While cautious on the sector, he identifies DiamondRock Hospitality (DRH) as his top pick for those who want to participate in the space.
AHP Ashford Hospitality Prime
$10.31

-0.02 (-0.19%)

06/09/17
DBAB
06/09/17
UPGRADE
Target $13
DBAB
Buy
Ashford Hospitality Prime upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank analyst Chris Woronka upgraded Ashford Hospitality Prime to Buy saying shareholders today are likely to approve an amended advisory agreement whereby the termination fee payable to the advisor declines by approximately $50M, or nearly $1.50 per share. The analyst believes the vote would be immediately accretive to his NAV model by the same amount. He lowered his price target for the shares to $13 from $14.

TODAY'S FREE FLY STORIES

BDORY

Banco do Brasil

05:04
04/23/18
04/23
05:04
04/23/18
05:04
Downgrade
Banco do Brasil rating change  »

Banco do Brasil…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

STT

State Street

$99.64

-4.57 (-4.39%)

05:02
04/23/18
04/23
05:02
04/23/18
05:02
Upgrade
State Street rating change  »

State Street upgraded to…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 24

    Apr

  • 26

    Apr

KORS

Michael Kors

$65.02

-0.7 (-1.07%)

04:57
04/23/18
04/23
04:57
04/23/18
04:57
Upgrade
Michael Kors rating change  »

Deutsche Bank upgrades…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

SYRS

Syros Pharmaceuticals

$12.60

-0.47 (-3.60%)

04:55
04/23/18
04/23
04:55
04/23/18
04:55
Conference/Events
Syros Pharmaceuticals management to meet with Oppenheimer »

Meeting to be held in…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 23

    Apr

  • 24

    May

AVEO

Aveo Oncology

$2.59

-0.05 (-1.89%)

04:55
04/23/18
04/23
04:55
04/23/18
04:55
Conference/Events
Aveo Oncology management to meet with B. Riley FBR »

Meetings to be held in…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 23

    Apr

  • 24

    Apr

CIGI

Colliers International

$70.20

0.75 (1.08%)

04:55
04/23/18
04/23
04:55
04/23/18
04:55
Conference/Events
UBS REITs analyst to hold an analyst/industry conference call »

REITs Analyst Yulico,…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 23

    Apr

  • 30

    Apr

  • 01

    May

CNAT

Conatus

$3.58

0.02 (0.56%)

04:55
04/23/18
04/23
04:55
04/23/18
04:55
Conference/Events
Conatus management to meet with Oppenheimer »

Meetings to be held in…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 23

    Apr

  • 24

    Apr

KMB

Kimberly-Clark

$100.04

-3.3 (-3.19%)

04:55
04/23/18
04/23
04:55
04/23/18
04:55
Technical Analysis
Technical Earnings Preview: Kimberly-Clark near 5-year lows ahead of earnings »

The shares of…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 23

    Apr

  • 27

    Apr

  • 30

    May

04:55
04/23/18
04/23
04:55
04/23/18
04:55
General news
Existing Home Sales to be reported at 10:00 »

March Existing Home Sales…

INFY

Infosys

$17.38

0.21 (1.22%)

04:55
04/23/18
04/23
04:55
04/23/18
04:55
Conference/Events
Infosys to host analyst meeting »

Analyst meeting to be…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 23

    Apr

04:55
04/23/18
04/23
04:55
04/23/18
04:55
General news
Breaking General news story  »

6-Month Bill Auction to…

MLNX

Mellanox

$75.80

-1.45 (-1.88%)

04:55
04/23/18
04/23
04:55
04/23/18
04:55
Conference/Events
Mellanox management to meet with Loop Capital »

Meeting to be held in Los…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 23

    Apr

  • 24

    Apr

APVO

Aptevo Therapeutics

$4.33

0.01 (0.23%)

04:55
04/23/18
04/23
04:55
04/23/18
04:55
Conference/Events
Aptevo Therapeutics management to meet with Piper Jaffray »

Meetings to be held on…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 23

    Apr

  • 24

    Apr

04:55
04/23/18
04/23
04:55
04/23/18
04:55
General news
PMI Composite Flash â€' Level to be reported at 09:45 »

April PMI Composite Flash…

04:55
04/23/18
04/23
04:55
04/23/18
04:55
General news
Breaking General news story  »

4-Week Bill Announcement…

IFRX

InflaRx

$38.78

1.67 (4.50%)

04:55
04/23/18
04/23
04:55
04/23/18
04:55
Conference/Events
InflaRx has a conference call hosted by JPMorgan »

JPMorgan Analyst Rama…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 23

    Apr

04:55
04/23/18
04/23
04:55
04/23/18
04:55
Conference/Events
Leerink healthcare analysts to hold an analyst/industry conference call »

Analysts discuss dental…

LUK

Leucadia

$24.02

-0.1 (-0.41%)

04:55
04/23/18
04/23
04:55
04/23/18
04:55
Conference/Events
Leucadia management to meet with Oppenheimer »

Group luncheon to be held…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 23

    Apr

  • 23

    May

  • 04

    Oct

CNK

Cinemark

$39.66

-0.74 (-1.83%)

04:55
04/23/18
04/23
04:55
04/23/18
04:55
Conference/Events
Cinemark management to meet with MKM Partners »

Meeting to be held in Las…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 23

    Apr

  • 23

    Apr

  • 24

    Apr

  • 25

    Apr

CRAY

Cray

$22.40

-0.2 (-0.88%)

04:55
04/23/18
04/23
04:55
04/23/18
04:55
Conference/Events
Cray management to meet with Craig Hallum »

Meeting to be held in Los…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 23

    Apr

  • 29

    May

SNX

Synnex

$103.51

-0.33 (-0.32%)

04:55
04/23/18
04/23
04:55
04/23/18
04:55
Conference/Events
Synnex management to meet with Loop Capital »

Meetings to be held in…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 23

    Apr

  • 24

    Apr

  • 03

    May

  • 04

    May

04:55
04/23/18
04/23
04:55
04/23/18
04:55
General news
Chicago Fed National Activity Index Level to be reported at 08:30 »

March Chicago Fed…

04:55
04/23/18
04/23
04:55
04/23/18
04:55
General news
Breaking General news story  »

3-Month Bill Auction to…

04:55
04/23/18
04/23
04:55
04/23/18
04:55
Conference/Events
UBS leisure/lodging analyst to hold an analyst/industry conference call »

Leisure, Gaming &…

ASND

Ascendis Pharma

$63.83

-1.17 (-1.80%)

04:55
04/23/18
04/23
04:55
04/23/18
04:55
Conference/Events
Ascendis Pharma has a conference call hosted by JPMorgan »

JPMorgan Analyst Fye will…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 23

    Apr

  • 08

    May

  • 10

    May

Get Full Fly Access

Breaking market intelligence sent straight to you
Our team of experts analyze every news story and filter out the noise to deliver real-time market moving news.
Up-to-date information on important industry events
Get real-time updates on events that are moving the market—from conferences and calls to syndicate announcements.
News focused on the companies in your portfolio
Create up to 12 portfolios with 150 stocks each, and see how active they are in market news.