The stock of Retail Value Inc. (RVI) gained in the after-hours following the announcement sale of Willowbrook plaza, special common share distribution and repurchase of the preferred stock in a press release. The stock valued at $6.45 in the after-hours at the time of this writing. This is a gain of more than 6.44% from the previously closed value. At the end of the last trading session the stock closed at $6.06. The volume of the stock traded in the last trading session was around 352.24K shares.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Reason of the stock gain:
On 15th December, 2021 Retail Value Inc. (RVI) announced that they have sold Willowbrook Plaza for $37.1 million in a cash transaction. The net proceeding from the deal of around $35.7 million, proceedings from the Green Ridge Square previous sale and as of now the company’s cash in hand all this proceedings are expected to be used for the distribution of the special cash on the company’s common shares. The company announces the special cash distribution on the company’s common shares. This will be $3.27 per common share due to be payable on 18th January, 2022 to its shareholders on 29th December, 2021 close of business. This is expected to be the return of the capital that is intended to reduce the tax basis of the shareholders in their shares.
The company also announced that they have repurchased their all outstanding shares of Series A Preferred stock at the price of $1.00 form SITE Centers Corp. Due to this repurchase of the Preferred stock the Retail Value Inc. (RVI) will not have to pay dividends on the Series A Preferred Stock anymore.
Effect on the stock:
As soon as this news hit the market the stock of the Retail Value Inc. (RVI) surged in the after-hours. The investors responded positively to the decisions made by the company and were investing in its stock for the future gains.
Conclusion:
The company’s decision has made the stock to be popular among the investors and the trend of the stock is in upward trajectory. If the company continued to perform in such a pace and remains consistent with its performance, the stock of the company can go higher than current value.
