Cole Real Estate Investments, Inc. (COLE) - NYSE
COLE is defunct.
  • Oct. 23, 2013, 11:45 AM
    • "This is taking the number two and number three net-lease REITs and creating kind of a game-over, category-killer in the sector," says Cole Real Estate (COLE +8.7%) CEO Marc Nemer of the deal to sell itself to American Realty Capital Properties (ARCP -1.5%) for $11.2B in cash and stock. The combined company will push into first place in size in the popular triple-net-lease sector, surpassing Realty Income (O +0.7%).
    • ARCP's acquisition-happy chief Nicholas Schorsch in the past has typically raised private money for non-traded REITs and then sold the portfolios to ARCP in order to cash out his investors, but this is a massive public deal. "How many REITs have the ability to raise both public and private capital," he says. "The ability for us to acquire non-traded REITs, either whole or in part, is only increased" by this Cole deal.
    • S&P 500 inclusion next? The investor presentation (slide 8) notes the combined company's market cap will be larger than index constituents Kimco Realty and Macerich.
    • Under the impression the CEOs of the two companies hated each other, SNL Financial's Jake Mooney wants the backstory. Earlier this year: Still a non-traded REIT, Cole rebuffs ARCP's buyout attempt for $9.7B.
    • Earlier today: The deal announcement.
    • Other triple-net players: National Retail (NNN +1.2%), W.P. Carey (WPC +1%), Spirit Realty (SRC +3.2%), EPR Properties (EPR +0.8%).
    | Oct. 23, 2013, 11:45 AM | 1 Comment
  • Oct. 23, 2013, 9:11 AM
    | Oct. 23, 2013, 9:11 AM
  • Jul. 3, 2013, 2:30 PM
    After-hours top gainers, as of 2:15 p.m.: PWRD +3%. TDG +2%. CTRP +2%. OMAB +2%. BSMX +2%.
    After-hours top losers: ARCP -2%. PBR -2%. NVAX -2%. COLE -2%. CS -1%.
    | Jul. 3, 2013, 2:30 PM
Company Description
Cole Real Estate Investments Inc is a real estate investment trust. The Company acquires and operates a diversified portfolio of core commercial real estate investments.
Sector: Financial
Industry: REIT - Diversified
Country: United States