Orlando, FL -- (SBWIRE) -- 10/11/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On DCT Industrial Trust Inc. (NYSE:DCT), Safeway Inc.(NYSE:SWY).
DCT Industrial Trust Inc. (NYSE:DCT) shares gained 3.85% to $7.29. The company on Oct. 10 announced it has acquired DCT Fox River Business Center, a six-building industrial portfolio in Elgin, one of the fastest growing submarkets of Chicago. The high-quality buildings offer immediate interstate access and are in close proximity to O'Hare Airport. The portfolio totals 1.1 million square feet and has a current occupancy of 59.1 percent.
Additionally, the company on Oct. 2 announced that its operating partnership subsidiary, DCT Industrial Operating Partnership LP, priced an offering of $275 million aggregate principal amount of 4.500% Notes due 2023 at 99.038% of face value in a private placement exempt from the registration requirements of the Securities Act of 1933, as amended. The closing of the offering is expected to occur on October 9, 2013, subject to customary closing conditions. The Notes will be initially guaranteed by the Company and each of the Operating Partnership's wholly owned subsidiaries that guarantees borrowings under the Operating Partnership's revolving credit facility.
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Safeway Inc.(NYSE:SWY) shares gained 2.50% to $31.57. The company on Oct. 10 said it will exit the Chicago market by unloading its 72 Dominick’s grocery stores in the area, its latest move to shed unprofitable operations under pressure from an activist investor. Safeway said the move will allow it to spend less money this year, and could produce a tax benefit of $400 million to $450 million, which would partly offset expenses related to the pending sale of its Canadian business. However, Safeway could be liable to pay pension-withdrawal charges of as much as $375 million over the next 20 years, unless the buyer of the Dominick’s stores takes on those responsibilities.
Additionally, the company reported a profit of $65.8 million, or 27 cents a share, down from $157 million, or 66 cents a share, a year earlier. Adjusted earnings from continuing operations were down at 10 cents from 16 cents. Meanwhile, overall adjusted income attributable to Safeway was 30 cents a share. Revenue increased 1.1% to $8.6 billion. Analysts recently expected per-share profit of 16 cents and revenue of $8.52 billion.
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