Blackstone (BX), QTS Realty Trust (QTS) Reach Highs Monday On Acquisition Deal

Last Updated: Monday, June 7, 2021 2:23 PM | Nick Dey

During trading Monday, 228 stocks traded to a 52-week high, while 3 stocks bottomed out at new 52-week lows. The S&P 500 is down 0.25% so far today while the Dow is down 0.49%, the Nasdaq is up 0.18%, and the Russell 2000 is up 1.3%.

Stocks are mostly lower Monday morning. The G-7 reached an unprecedented deal which would impose a minimum global tax rate of 15% on foreign earnings. Meanwhile, renewed inflation fears were played down by Treasury Secretary Janet Yellen who stated that a higher interest might be a "plus" for society. Lastly, AMC Entertainment (AMC) is up 23% to $59.06 a share as retail investors flock to the meme-security.

Sector Highlights

Real Estate stocks dominated our list of highs today with 59 out of the 228 total stocks that reached their high coming from the Real Estate sector. The Real Estate sector is outperforming the market, increasing 0.96% so far on the day. Over the last month the Real Estate sector has outperformed the market, increasing 4.67% while the S&P increased 0.89%.

QTS Realty Trust (QTS) is on highs after is was announced that it will be acquired by Blackstone (BX) in a $10 billion transaction. Meanwhile, Service properties Trust (SVC) reached highs after reaching an agreement with Hyatt Hotels to amend a previously reached management agreement for 22 Hyatt Place hotels. Lastly, Colony Capital (CLNY) is on highs after announcing that it will sell the majority of its OED portfolio to Fortress Investment Group (FIG) for gross proceeds of $535 million.

Real Estate: ACRE, AIV, ALEX, ARE, ARI, AVB, BDN, BXP, CCI, CIM, CLNC, CLNY, CPT, CUBE, CUZ, DRE, EGP, ELS, EPRT, ESS, EXR, FR, FRT, GLPI, GMRE, GNL, GOOD, GPMT, GTY, HIW, INVH, IRM, IRT, KREF, KRG, LSI, LXP, MFA, MGP, NLY, NNN, NSA, NXRT, PLD, PSA, QTS, RC, RPT, RWT, SNR, SRC, STAG, SUI, SVC, TRNO, TRTX, UDR, VICI, WPC

Financial Services had the second largest presence on our 52-week highs, with 36 out of 228 highs coming from the Financial Services sector. The Financial Services sector is outperforming the market today, decreasing 0.52% so far on the day. Over the last month the Financial Services sector has outperformed the market, increasing 5.38% while the S&P increased 0.89%.

Blackstone (BX) is on highs alongside merger target QTS, which it intends to buy-out for $78 per share.

Financial Services: AFL, ARCC, ATAX, AXP, BEN, BGCP, BHLB, BKCC, BLK, BPFH, BX, CINF, CUBI, DFS, FCFS, FFIN, FRC, FSK, GAIN, GLAD, GS, IVZ, JHG, LNC, MMC, MS, NDAQ, OCSL, ORCC, PFLT, PSEC, SEIC, SIVB, SYF, TBBK, TROW

The Lists

The following stocks traded to 52-week highs: ACHC, ACRE, ADM, ADTN, AFL, AGIO, AGRO, AIV, ALEX, ALKS, AM, AMEH, AMN, ANDE, ANET, APA, AQUA, ARCC, ARE, ARI, ATAX, AVB, AVID, AXP, BBCP, BCEI, BCRX, BDN, BEN, BGCP, BHLB, BIP, BKCC, BLK, BPFH, BPMP, BRY, BX, BXP, CBT, CCEP, CCI, CDEV, CEIX, CELH, CHS, CIM, CINF, CLAR

The following stocks traded to 52-week lows: ALLO, FF, IONS, TVTX

The following ETFs traded to a 52-week high: AMJ, DBC, DIG, EFA, EWG, EWI, EWK, EWO, EWQ, EWW, EWZ, EZU, GSG, HYD, ICF, IEO, IGE, IGN, ILF, ITA, IXC, IYE, IYF, IYG, IYR, KCE, PPA, URA, URE, USCI, USO, UYG, VGK, VNQ, XES, XLE

The following ETFs traded to a 52-week low: VXX

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