CommonWealth REIT's shares fell Tuesday after the real estate investment trust completed a stock offering, despite the objections of two major shareholders.

THE SPARK: CommonWealth REIT completed an offering of 34.5 million shares of the company Tuesday. The company plans to use the proceeds of roughly $627.6 million to buy back debt.

THE BIG PICTURE: CommonWealth, based in Newton, Mass., is a real estate investment trust with holdings across the U.S.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.