Zillow Faces Competition from Trulia and 1 Stock that Has Hit 52-Week Highs
W.P. Carey & Co. Llc (NYSE:WPC) stated that CPA:17 – Global, which is one of its publicly held non-traded REIT affiliates, acquired a portfolio of nine automotive dealerships which makes a total of 380,000 square feet. Three of the dealerships are in Alabama, two are in Missouri, and there is one in each of the following; Tennessee, Arkansas, Texas and Louisiana. Portfolio dealerships sell and service top brands like Mercedes Benz, Nissan, Chevrolet, Toyota, Scion, Dodge, Chrysler, and Jeep. The total acquisition totaled about $66 million, and the facilities is to be leased back to RLJ-McLarty-Landers Automotive Holdings LLC on a triple net basis for 16 years. This will be the first investment that has been completed via its partnership with CapRocq Automotive, LLC, which was formed as a means to execute various real estate sale-leaseback transactions in the automotive dealership industry. The shares closed at $52.30, which is an increase of $1.83 or 3.63 percent on the day. They have traded in a 52-week range of $34.50 to $51.07.
Zillow Inc. Cl A (NASDAQ:Z): Trulia will go public this week and intends to offer 6 million shares for $14-16 a share, according to AllThingsD. This leaves the company behind sector leader Zillow who began selling shares at $20 and now trades at about $43. The shares closed at $45.55, up $2.74 or 6.4% on the day. They have traded in a 52-week range of $21.22 to $45.50.
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