Financial stocks were narrowly higher today with the NYSE
Financial Sector Index climbing about 0.2% and the S&P
Financial 100 Index advancing about 0.3%.
In company news, shares of Wheeler Real Estate Investment Trust
) rose Tuesday after the property manager today announced plans to
acquire three retail development properties for a combined $4.2
million in cash and assumed debt.
All three of the properties - located in Edenton and Moyock,
N.C., and Courtland, Va. - are in established commercial zones and
were acquired from a WHLR affiliate, Development Fund I LLC, with
plans to develop the parcels into retail locations. Together the
properties cover around 55.2 acres.
WHLR shares were up about 2.8% at $5.09 apiece, just 6 cents off
its best level of today's session and 7 cents under its 52-week
high. The stock has traded within a 52-week range of $3.75 to $5.16
a share, rising about 13.6% over the past 12 months.
In other sector news,
(+) HGSH, (+75.7%) Signs its first shanty-area rebuilding
framework agreement with the Hantai District government of Hanzhong
City. The estimated value of the project is $580 mln.
(-) MAIN, (-0.1%) Leads $17.0 mln majority recapitalization in
Guerdon Enterprises LLC, providing $13.6 mln in funding for the
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