Notable Movers to Watch: Old Republic International Corporation (NYSE:ORI), Retail Properties of America Inc (NYSE:RPAI), MeetMe Inc (NASDAQ:MEET)

On Friday, Shares of Old Republic International Corporation (NYSE:ORI), added 0.06% and closed at $17.62 in the last trading session. The last trading range of the stock ranges between $17.55 and $17.72. Old Republic International Corporation, through its auxiliaries, engages in the insurance underwriting and related services business mainly in the United States and Canada. The company operates through three segments: General Insurance Group, Title Insurance Group, and the Republic Financial Indemnity Group Run-off Business. The General Insurance Group segment offers automobile extended warranty, aviation, commercial automobile, commercial multi-peril, general liability, home warranty, inland marine, travel accident, and workers’ compensation insurance products; and financial indemnity products for specialty coverages, counting errors and omissions, directors and officers, fidelity, guaranteed asset protection, and surety. This segment offers its insurance products for businesses, government, and other institutions in transportation, commercial construction, healthcare, education, retail and wholesale, forest products, energy, general manufacturing, and financial services industries. The Title Insurance Group segment provides lenders’ and owners’ title insurance policies to real estate purchasers and shareholders based upon searches of the public records. This segment also offers escrow closing and construction disbursement services; and real estate information products, national default administration services, and other services pertaining to real estate transfers and loan transactions.

Retail Properties of America Inc (NYSE:RPAI), remained flat and closed at $16.80 in the last trading session. The last trading range of the stock ranges between $16.71 and $16.96. The company’s Market capitalization is $4.03 Billion with the total Outstanding Shares of 237.38 million. Retail Properties of America, Inc. (RPAI) (the “Company”) recently declared that it reached a purchase agreement to acquire One Loudoun Downtown (the “Property”) located in the Washington, D.C. Metropolitan Statistical Area (MSA) for a gross purchase price of up to $163.1 million, based on certain performance thresholds. The Company will be acquiring the Property from Miller & Smith and North America Sekisui House, LLC (“Seller”). The acquisition will be closed in phases, with the first phase, representing a purchase price of up to $125.0 million, expected to close by the end of 2016. The remaining phases, representing an aggregate purchase price of up to $38.1 million, are expected to close throughout the first three quarters of 2017 as the Seller completes construction on stand-alone buildings at the Property.

The Property is anchored by Alamo Drafthouse Cinema, The Fresh Market, Great Gatherings and The Fitness Equation and contains a strong mix of fast casual and sit down restaurants, counting matchbox and Uncle Julio’s Rio Grande Cafe. The first phase consists of about 342,000 square feet, comprised of 236,800 square feet of retail and 105,200 square feet of office, which are 85.6% occupied and 89.7% leased. The remaining phases are presently under development and are expected to contain about 78,300 square feet of retail and about 46,300 square feet of office, which are 71.0% leased.

The Property represents the retail centerpiece of One Loudoun, a 360-acre, mixed-use master planned community that is entitled for residential, hospitality, retail and office uses. Located in Ashburn, Virginia, the Property is situated within a “super-zip”, one of the most affluent and well-educated zip codes in the country, boasting a strong demographic profile with a population of 182,000 and average household income of $142,000 within a five mile radius. Ashburn, Virginia  was named No. 22 in the top “50 Best Places to Live” in the U.S. and ranked No. 1 for job growth in 2016 by Money magazine.

MeetMe Inc (NASDAQ:MEET), jumped 1.31% and closed at $6.20 in the last trading session. The last trading range of the stock ranges between $6.06 and $6.22. During the 52-week trading session the minimum price at which share price traded, registered at $1.53 and reached to max level of $8.11. MeetMe, Inc. owns and operates a social network for meeting new people on the Web and on mobile platforms in the United States. The company operates MeetMe mobile applications and, which provide users with access to a multilingual menu of resources that promote social interaction, information sharing, and other topics of interest. It also offers online marketing capabilities, which facilitate marketers to display their advertisements in various formats and in various locations.

Leave a Reply

Your email address will not be published. Required fields are marked *