Chambers Street Properties (NYSE:CSG)’s Happening Week – CHSP, DRH


Dallas, Texas 09/20/2013 (Financialstrend) – Registered as a Real Estate Investment Trust (REIT), Chambers Street Properties (NYSE:CSG) primarily invests in invests in real estate (office and industrial) properties with triple net lease tenants, as well as other real estate-related assets. Its primary business segments include Domestic Industrial Properties segment and Domestic Office Properties segment. The company has market capitalization worth $2.18 billion. The company has 236.5 million total shares outstanding.

The stock has gained over 21.5% in last one month and its 52-week range remains between $7.16 towards the lower spectrum and $10.10 on the higher spectrum. On Thursday, September 19, 2013 the stock traded with volume of 2.91 million shares whereas the average volume remains 1.39 million. The stock traded in the range of $9.11 and $9.28 before closing at $9.21 gaining marginally (0.33%) from its previous close.

Recently the company has been selected for inclusion in the FTSE NAREIT Equity REITs Index, FTSE NAREIT All Equity REITs Index and FTSE NAREIT Composite Index and is expected to be included by September 20, 2013, after close of the market.

Earlier this week company made announcement regarding appointment of independent trustees to the Company’s board of trustees. Chambers Street Properties (NYSE:CSG) revealed appointment of two highly respected real estate investment trust executives, namely James L. Francis and Mark W. Brugger. Both of them are having extensive experience with publicly listed REIT. While Mr. Francis serving as the President, a Trustee and Chief Executive Officer at Chesapeake Lodging Trust (NYSE:CHSP); Mr. Brugger is a Director and Chief Executive Officer with DiamondRock Hospitality Company (NYSE:DRH).

On these appointments, President and Chief Executive Officer of the Chambers Street Properties (NYSE:CSG), Jack Cuneo commented that both Mark and Jim would be a great additions to their existing board of trustees and will bring insights from running publicly traded REITs and wealth of experience from real estate to capital markets.