{"id":141419,"date":"2021-10-11T19:32:40","date_gmt":"2021-10-11T19:32:40","guid":{"rendered":"https:\/\/precoinnews.com\/?p=141419"},"modified":"2021-10-11T19:32:40","modified_gmt":"2021-10-11T19:32:40","slug":"elliott-urges-reit-healthcare-trust-of-america-to-explore-sale","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/markets\/elliott-urges-reit-healthcare-trust-of-america-to-explore-sale\/","title":{"rendered":"Elliott urges REIT Healthcare Trust of America to explore sale"},"content":{"rendered":"

(Reuters) – Activist investor Elliott Investment Management on Monday urged Healthcare Trust of America to launch a strategic review and explore a potential sale of the real estate investment trust.<\/p>

Paul Singer, founder, CEO, and co-chief investment officer for Elliott Management Corporation, speaks during the Skybridge Alternatives (SALT) Conference in Las Vegas, Nevada May 9, 2012. REUTERS\/Steve Marcus\/File Photo<\/figcaption>

Elliott, which is one of HTA\u2019s largest investors, said the company\u2019s longstanding underperformance compared to its peers has stoked frustration and shareholders want it to aim for a sale. HTA shares were up 2.1% at $32.38 in afternoon trading.<\/p>\n

The news comes months after HTA Chief Executive Officer Scott Peters stepped down, which Elliot termed as \u201cabrupt and unexpected\u201d.<\/p>\n

\u201cHTA faces a challenging stand-alone future given a disadvantaged ability to compete for acquisition targets, the inherently risky task of having to identify and integrate a new CEO and the difficult mission of repairing and rebuilding the company\u2019s culture,\u201d Elliott said in a letter to HTA\u2019s board.<\/p>\n

HTA, which invests in real estate primarily consisting of medical office buildings, is presently headed by interim CEO Peter N. Foss.<\/p>\n

Investors believe that HTA should conduct the review, including solicitation of bids, before it makes a decision regarding its new CEO, Elliott said, cautioning the absence of such a review would make it difficult to attract a suitable candidate for the position.<\/p>\n

Elliott said it was confident that \u201chighly credible buyers\u201d would make offers at a substantial premium to the HTA stock\u2019s current trading price.<\/p>\n

In response to the hedge fund’s letter, HTA said it had held several discussions with Elliott representatives after it was first contacted by the firm and shared the information with its full board. (prn.to\/2YHKgtX)<\/p>\n

\u201cWe are open minded and committed to delivering superior returns for all HTA shareholders\u201d, HTA added.<\/p>\n

Bloomberg News first reported on Elliott pushing for a strategic review of HTA last week.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

(Reuters) – Activist investor Elliott Investment Management<\/p>\n","protected":false},"author":3,"featured_media":141418,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23054],"tags":[],"yoast_head":"\nElliott urges REIT Healthcare Trust of America to explore sale - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/markets\/elliott-urges-reit-healthcare-trust-of-america-to-explore-sale\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Elliott urges REIT Healthcare Trust of America to explore sale - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"(Reuters) – Activist investor Elliott Investment Management\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/markets\/elliott-urges-reit-healthcare-trust-of-america-to-explore-sale\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-11T19:32:40+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/10\/Elliott-urges-REIT-Healthcare-Trust-of-America-to-explore-sale.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/markets\/elliott-urges-reit-healthcare-trust-of-america-to-explore-sale\/\",\"url\":\"https:\/\/precoinnews.com\/markets\/elliott-urges-reit-healthcare-trust-of-america-to-explore-sale\/\",\"name\":\"Elliott urges REIT Healthcare Trust of America to explore sale - 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