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Apple REIT said it has raised $1.78 billion through the sale of 180.55 million shares. It also announced that it closed on the purchase three hotels for $45.8 million. The hotels are in North Carolina, Pennsylvania and Texas and contain a total of 349 rooms.
Apple REIT Six
The company said it is reviewing various strategic alternatives , including a possible sale, merger or listing of the company. Apple REIT has hired Eastdil Secured, part of Wells Fargo Securities, as its financial advisor to assist it in the review.
Vice President Keli Morrison exercised options to buy 3,661 shares for $31,260. Morrison then sold those shares at market value for $62,822.
Mitzi Reynolds, vice president of investor relations, sold 5,000 shares for $17.05 per share, an $85,000 sale.
Community Bankers Trust Corp.
Director Alexander Dillard Jr. bought 12,875 shares for $9,700. He owns more than 146,000 shares of CBTC stock.
Director John Harris sold 34,500 shares for $42 each or a total of $1.44 million. He still owns more than 16,000 shares.
James River Coal
Leonard Kujawa, a director, exercised options to acquire 5,000 shares for $14.60 per share. He then sold those shares for $22.88 each or $114,400.
Michael Weber, chief commercial officer, sold 3,377 shares for $69,937.
Vice Chairman Anthony Markel sold a total of 7,259 shares for $2.58 million. He sold 5,793 shares in $2.05 million during previous week. Markel now directly owns 90,000 shares of the company’s stock.
Massey announced that its Chairman and CEO Don Blankenship will retire from the company effective Dec. 31. Blankenship, who has held those positions since 2000, has been with the company since 1982. Massey said its President Baxter Philips Jr. will succeed Blankenship as CEO. Adm. Bobby Inman, a director, will take over as non-executive chairman.
COO John Adkins purchased 4,658 shares for $50.42 per share or $234,856.
Union First Market Bankshares
The company’s directors each purchased various amounts of shares for $13.43 per share as part of a directors stock plan.
Michael Schwartz is a BizSense reporter. please send news tips to [email protected].