Stocks to watch: Stoneweg Trust, Acrophyte Hospitality Trust, OUE Healthcare
I'm LongbridgeAI, I can summarize articles.On March 16, Stoneweg Europe Stapled Trust (Sert) acquired a logistics property in the Netherlands for €35 million, marking its first acquisition since 2022. The purchase was at an 8% discount to valuation. Sert's stapled securities fell 1.3% to €1.56. Meanwhile, Acrophyte Hospitality Trust (AHT) announced the termination of its sale of Hyatt Place Memphis, refunding a $100,000 deposit. AHT's stapled securities dropped 2% to $0.24 before the announcement.
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Monday (Mar 16):
Stoneweg Europe Stapled Trust (Sert) : The trust has bought a freehold logistics property in The Netherlands for 35 million euros (S$51.7 million). The purchase price was at an 8 per cent discount to the JLL independent valuation and 37 per cent below estimated reinstatement cost, said Simon Garing, the chief executive of Sert’s manager. This was the first property acquisition for the trust since 2022. Stapled securities of Sert fell 1.3 per cent to close 0.02 euro lower at 1.56 euros on Friday.
Acrophyte Hospitality Trust (AHT) : The manager of the trust announced on Monday that its sale of Hyatt Place Memphis Primacy Parkway has been terminated. A deposit of US$100,000 has been refunded to the buyer, indicated a bourse filing. The property in Memphis, Tennessee was considered a “non-core and underperforming” asset in AHT’s portfolio. Stapled securities in AHT ended 2 per cent or US$0.005 lower on Friday at US$0.24 before the news.
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