Equity Residential (EQR) shares fell 1.2% in Tuesday trading after Barclays downgraded the stock to equalweight from overweight with a price target of $76 per share.
Trading volume stood at nearly 1.1 million shares compared with a daily average of over 3 million.
Price: $68.88, Change: $-0.84, Percent Change: -1.20%
Rithm Property Trust (RPT) said late Monday it launched a public offering of common shares.The company will grant underwriters a 30-day overallotment option to buy an additional 15% of the shares offered, according to a statement.An affiliate Rithm Capital has shown interest in buying common shares in a concurrent private placement, according to the company.Net proceeds will be used to acquire a portfolio of multifamily residential transition loans from affiliates of Rithm Capital, and for general corporate purposes, the company said.
Penguin Solutions (PENG) intends to offer $650 million in convertible senior notes due 2031 to institutional buyers, with initial purchasers expected to receive an option to buy up to an additional $100 million in notes, the company said Monday in a statement.Penguin expects to use the net proceeds to fund capped call transactions, pay the cash portion of exchanges for its existing 2029 and 2030 convertible notes, repay $100 million outstanding under its credit agreement, and for general corporate purposes.The company's shares fell 4.4% in after-hours trading.
Erasca (ERAS) plans to sell $500 million in common stock in an underwritten public offering.Underwriters are expected to receive a 30-day option to buy up to an additional $75 million in shares, the company said Monday in a statement.Erasca expects to use the net proceeds to finance research and development, and for working capital and general corporate purposes.The company's shares fell 2.2% in after-hours trading.