The recent rebound in business -- and to a lesser extent, leisure -- travel bodes well for the hotel operator.
Kimco Realty shares shed 1.3% at $18.04 on nearly double its typical average volume.
Earlier this month, the shopping center owner said it was divesting a small hotel company it had acquired in 2007 as part of an ongoing strategy to sell off all of its non-retail assets.
Kimco has a 75% stake in InTown Hospitality, which comprises 138 hotels, 17,978 rooms and was valued at around $100 million.DCT shares lost 1.7% to close at $5.13. DCT CEO Philip Hawkins recently said he expects conditions in the industrial real estate sector to improve. "We have good leasing activity. Tenants are making decisions, and some of the larger tenants are making longer lease decisions," Hawkins told REIT.com. "On the other hand, smaller tenants are more active than they were even a few months ago." -- Written by Miriam Marcus Reimer in New York.
>To contact the writer of this article, click here: Miriam Reimer. >To follow the writer on Twitter, go to http://twitter.com/miriamsmarket. >To submit a news tip, send an email to: email@example.com.
>>See our new stock quote page. Get more stock ideas and investing advice on our sister site, Stockpickr.com.