RMR Group shares slide to 2-yr lows on planned secondary offering

RMR group

17/06/2019 19:55

** RMR Group Inc  RMR.O  shares down 5.8% to $47.96, lowest
since Aug 2017, after real estate asset management discloses
proposed secondary offering
    ** Office Properties Income Trust  OPI.O , Senior Housing
Properties Trust  SNH.O  and Hospitality Properties Trust
 HPT.O  looking to sell ~7.9 mln shares in aggregate, per SEC
filing https://www.sec.gov/Archives/edgar/data/1644378/000104746919003664/a2238748z424b5.htm#da16201_selling_shareholders
    ** Offering would divest each REIT's remaining stake and
more than double RMR's public float of 7.1 mln shares, per
Refinitiv data
    ** Citigroup and Morgan Stanley are top-line bookrunners for
a 9-firm underwriting group; offering scheduled to price Weds,
Jun 26, AMC
    ** ~265k RMR shares have traded on Mon, their busiest day in
3 years and triple the 10-DMA volume
    ** With Mon decline, RMR off 9.6% YTD and has halved from
Sept record highs

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