Driving the decision to upgrade was the analyst's view that the prior stock price reflected low expectations for the proceeds the company will
receive from asset sales.
The purchase will be funded with property level debt and
proceeds from asset sales and is expected to close in the fourth quarter of this year, subject to customary closing conditions.
Mr Elliott said another 85 basis points of CET1 was yet to
come from asset sales already announced by the bank.
Maryland - based RLJ has now generated $ 300 million
from asset sales since merging with Texas - based FelCor Lodging Trust Inc. in September 2017.
The slowdown is primarily due to EPR's share price being so low as to force management to fund much of 2018's investments with
proceeds from assets sales.
He used the loan and proceeds
from asset sales to finance a major overhaul of the company's automobiles and factories and provide «a cushion to protect for a recession or other unexpected event.»
Proceeds
from any asset sales will be plowed into new projects or returned to shareholders, according to a company statement.
The Ministry of Defence will raise # 1 billion
from asset sales.
The automaker's plan to sell assets have been slow - moving and the debt markets have been effectively closed to it borrowing more, putting in jeopardy its plan to raise $ 5 billion
from asset sales and new borrowing through 2009.
-LSB-...] we demonstrated in an earlier post, Valuing the SOAP stub, the proceeds
from the asset sale is key in determining the final pay out figure.
Daniel Hurwitz, president and COO of the REIT, told analysts during a recent fourth - quarter earnings call that the company would likely fund distressed opportunities using proceeds
from asset sales.
Equity Residential will pay its portion of the purchase price with $ 2.016 billion in cash, including proceeds
from asset sales, and the issuance of 34,468,058 shares of common stock, plus the assumption of $ 5.5 billion in secured debt.