Altria (MO)
The company’s Philip Morris USA subsidiary said today a settlement reached in December as part of an anti-smoking payment agreement will move forward. Philip Morris and other cigarette manufacturers reached the agreement with 17 states, including Virginia, and the District of Columbia and Puerto Rico. Portions of more than $4 billion will be released to the states. Philip Morris in return gets credits of $450 million against future payments.
W. Hildebrandt Surgner, Jr., corporate secretary, sold 5,000 shares at $34.24 per share, a total of $171,000.
Apple REIT
California financial firm MacKenzie Capital Management is seeking to purchase 9.1 million shares of Apple REIT Nine from the REIT’s shareholders at $7 per share, a total potential investment of $63.7 million. MacKenzie has made several similar attempts over the last two years to coax Apple REIT shareholders into selling.
Dynex Capital (DX)
Jeffrey Childress, a vice president, exercised options for 2,500 shares at $7.06 per share. He then sold the shares at $10.79 each, a total of $27,000.
Director Daniel K. Osborne notified the company of his decision to not stand for re-election to the board. His term expires at the company’s annual shareholder meeting. The company said it will search for a replacement, but may reduce the size of its board to five.
Landmark Apartment Trust of America
The Glen Allen REIT entered into a $130 million credit agreement with Bank of America, Citibank and others. The company will use proceeds for general corporate purposes, including to refinance existing debt on certain of its properties. As of March 7, three of its properties were pledged as collateral for the credit line and it had drawn had drawn $17.41 million.
Universal Corp. (UVV)
Robert Peebles, a vice president, exercised options for 4,600 shares at $51.32 per share. He then sold $4,318 shares at $57.02 each, for a total of $246,000.
Altria (MO)
The company’s Philip Morris USA subsidiary said today a settlement reached in December as part of an anti-smoking payment agreement will move forward. Philip Morris and other cigarette manufacturers reached the agreement with 17 states, including Virginia, and the District of Columbia and Puerto Rico. Portions of more than $4 billion will be released to the states. Philip Morris in return gets credits of $450 million against future payments.
W. Hildebrandt Surgner, Jr., corporate secretary, sold 5,000 shares at $34.24 per share, a total of $171,000.
Apple REIT
California financial firm MacKenzie Capital Management is seeking to purchase 9.1 million shares of Apple REIT Nine from the REIT’s shareholders at $7 per share, a total potential investment of $63.7 million. MacKenzie has made several similar attempts over the last two years to coax Apple REIT shareholders into selling.
Dynex Capital (DX)
Jeffrey Childress, a vice president, exercised options for 2,500 shares at $7.06 per share. He then sold the shares at $10.79 each, a total of $27,000.
Director Daniel K. Osborne notified the company of his decision to not stand for re-election to the board. His term expires at the company’s annual shareholder meeting. The company said it will search for a replacement, but may reduce the size of its board to five.
Landmark Apartment Trust of America
The Glen Allen REIT entered into a $130 million credit agreement with Bank of America, Citibank and others. The company will use proceeds for general corporate purposes, including to refinance existing debt on certain of its properties. As of March 7, three of its properties were pledged as collateral for the credit line and it had drawn had drawn $17.41 million.
Universal Corp. (UVV)
Robert Peebles, a vice president, exercised options for 4,600 shares at $51.32 per share. He then sold $4,318 shares at $57.02 each, for a total of $246,000.