Financial Business Review: Wisdom Tree Exec Sells Shares, Macerich Buys 2 NY Malls
Shares of WisdomTree (WETF) plunge on word that non-executive Chairman Michael Steinhardt along with another early investor, RRE Ventures, register to divest almost 30 million stocks, which represents nearly 25 percent of the float. When completed, the sale would lower RRE’s interest in the firm to zero, and Steinhardt’s from 25.1 percent to 15.9 percent.
Catalysts are critical to discovering winning stocks. Check out our newest CHEAT SHEET stock picks now.
Real estate investment trust Macerich (NYSE:MAC) shares move down modestly on the day after its purchase of two New York-based malls for a total of about $1.25 billion, as the company looks to grow its portfolio in the state. Macerich will acquire Kings Plaza, which is a 1.2 million square foot property in Brooklyn, from Alexander’s (NYSE:ALX) for $751 million, and Green Acres, a 1.8 million square foot Valley Springs mall, from Vornado Realty Trust (NYSE:VNO) for a price of $500 million.