Tuesday, November 10, 2009

Entertainment Properties Slammed on Secondary (EPR)

Entertainment Properties Trust (NYSE: EPR) is getting hit after the company announced last night that plans to file a supplement to its shelf registration statement with the SEC for a public offering of 4,500,000 of common stock.  J.P. Morgan and RBC Capital Markets Corporation are the joint book running managers, with Citigroup, Barclays, KeyBanc Capital Markets, and FBR Capital Markets as co-managers.  We have not yet seen a pricing but this is supposed to be priced this morning and we have seen only 30,000 shares trade this morning but at a drop of 5.4% at $31.83. The 52-week range is $11.88 to $36.10.


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