Concerning REIT Conversion News Hits Lamar (LAMR), Penn National Gaming (PENN)
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Wells Fargo Maintains Outperform on Lamar Advertising (LAMR)
June 7, 2013 11:30 AM EDTWells Fargo today maintained an Outperform on Lamar Advertising (NASDAQ: LAMR). Shares traded lower on Friday due to concerns about IRS treatment of REIT conversion. The IRS has formed a working group and is evaluating the topic.
Commenting, analyst Marci Ryvicker... More
Stifel Nicolaus Downgrades Iron Mountain (IRM) to Hold
June 7, 2013 8:02 AM EDTStifel Nicolaus downgraded Iron Mountain (NYSE: IRM) from Buy to Hold.
For an analyst ratings summary and ratings history on Iron Mountain click here. For more ratings news on Iron Mountain click here.
Shares of Iron Mountain closed at $34.40 yesterday, with a 52 week range of $30.50-$39.71.... More
Equinix (EQIX) Hit on REIT Conversion Worries
June 6, 2013 6:28 PM EDTEquinix, Inc. (NASDAQ: EQIX) is another stock seeing pressure after-hours following cautious IRS news from Iron Mountain Inc. (NYSE: IRM) on its REIT conversion.
EQIX is down 8% after-hours.... More
Iron Mountain (IRM) Makes Case to IRS Regarding REIT Conversion; IRS was 'Tentatively Adverse'
June 6, 2013 4:42 PM EDTAs previously announced in June 2012, the Board of Directors of Iron Mountain Incorporated (NYSE: IRM) unanimously approved a plan (the Conversion Plan) for the Company to pursue conversion to a real estate investment trust (REIT) under the U.S. Internal Revenue Code of 1986, as amended (the Code). The Company is in the process of implementing the Conversion Plan, pursuant to which the Company would elect REIT status no earlier than its taxable year beginning January 1, 2014.
As part of the Conversion Plan, the Company submitted requests for private letter rulings relating to its conversion to a REIT... More
