Apple REIT Ten
The newest of the Apple REIT funds closed on the purchase of a 251-room Hilton Garden Inn in Des Plaines, Ill., for $38 million. It assumed an existing loan from the seller that is secured by the hotel and has a $20.8 million outstanding balance.
CarMax
The company released its second-quarter earnings, reporting net income of $111.9 million, compared with $107 million in the same period a year ago. It reported $2.58 billion in net sales, up from $2.3 billion, made mostly of used car sales. Its net used-vehicle sales at comparable stores, however, were down 2 percent. CarMax said it sold 102,825 used vehicles during the second quarter, down from 103,433. It made up for the decline with increases in its wholesale vehicle business and its finance business. The average sales price of one of its used vehicles during the quarter was $19,408, up from $18,084. Income from its auto finance division was $63.8 million, up from $52.6 million a year ago.
Star Scientific
Christopher Chapman Jr., a director, was issued options for 50,000 shares of Star Scientific common stock with an exercise price of $2.88 per share. The options expire in 2021. Chapman also has the right to 375,000 shares once the options are exercised.
Union First Market Bankshares
Executive Vice President Rex Hockemeyer acquired nine shares for $10.59 each.
Ronald Hicks, a director, bought 2,000 shares at $10.13 each. He owns more than 72,000 shares of Union stock.
Apple REIT Ten
The newest of the Apple REIT funds closed on the purchase of a 251-room Hilton Garden Inn in Des Plaines, Ill., for $38 million. It assumed an existing loan from the seller that is secured by the hotel and has a $20.8 million outstanding balance.
CarMax
The company released its second-quarter earnings, reporting net income of $111.9 million, compared with $107 million in the same period a year ago. It reported $2.58 billion in net sales, up from $2.3 billion, made mostly of used car sales. Its net used-vehicle sales at comparable stores, however, were down 2 percent. CarMax said it sold 102,825 used vehicles during the second quarter, down from 103,433. It made up for the decline with increases in its wholesale vehicle business and its finance business. The average sales price of one of its used vehicles during the quarter was $19,408, up from $18,084. Income from its auto finance division was $63.8 million, up from $52.6 million a year ago.
Star Scientific
Christopher Chapman Jr., a director, was issued options for 50,000 shares of Star Scientific common stock with an exercise price of $2.88 per share. The options expire in 2021. Chapman also has the right to 375,000 shares once the options are exercised.
Union First Market Bankshares
Executive Vice President Rex Hockemeyer acquired nine shares for $10.59 each.
Ronald Hicks, a director, bought 2,000 shares at $10.13 each. He owns more than 72,000 shares of Union stock.