DCT Industrial Trust Inc
), a real estate investment trust (REIT), declared an
underwriting public offering of 20,000,000 common shares to
enhance its liquidity. Additionally, DCT Industrial anticipates
the underwriters to be provided with a 30-day option to purchase
up to additional 3,000,000 common shares to cover any
CHATHAM LODGING (CLDT): Free Stock Analysis
DCT INDUSTRIAL (DCT): Free Stock Analysis
GLADSTONE COMML (GOOD): Free Stock Analysis
HEALTHCARE RLTY (HR): Free Stock Analysis
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The net proceeds from the offering will be primarily utilized to
fund future acquisitions, development activities or repayment of
amounts outstanding under its senior unsecured revolving credit
facility. Additionally, the proceeds would be used for general
business purposes or for a combination of the above mentioned
The joint book-running managers for the offering are BofA Merrill
Lynch, a unit of Bank of America Corporation, JPMorgan Chase
& Co., Citigroup, Inc. and Jefferies.
Though the intention of repaying debt is encouraging as it will
lessen DCT Industrial's interest expenses, the offering would
result in share dilution.
Last year, DCT Industrial declared an underwritten public
offering of 16,500,000 common shares to enhance its liquidity.
Additionally, the company decided to provide a 30-day option to
the underwriters to purchase an additional 2,475,000 shares.
Some other REITs that recently announced a public offering
Gladstone Commercial Corp
Chatham Lodging Trust
Healthcare Realty Trust Incorporated
). Gladstone declared an underwritten public offering of 1.1
million shares. The company also anticipates the underwriters to
be provided with a 30-day option to purchase up to additional
165,000 common shares to cover any over-allotments.
On the other hand, Chatham declared a public offering of 4.5
million common shares of beneficial interest, with a par value of
one cent per share. Further, to cover any over-allotments, the
company furnished a 30-day option to underwriters to buy up to an
additional 675,000 shares.
Moreover, Healthcare Realty declared an underwritten public
offering of 3,000,000 common shares to enhance its liquidity.
DCT Industrial currently carries a Zacks Rank #4 (Sell).