Cole Real Estate Investments, Inc. (NYSE: COLE), a full-scale real estate and investment management firm, today announced that its common stock has begun trading on the New York Stock Exchange (NYSE) under the ticker symbol “COLE.”
“Listing on the NYSE is a significant milestone for our firm, and I look forward to continuing to work with our talented team to capitalize on the significant opportunities this presents,” said Chris Cole, founder and executive chairman of Cole Real Estate Investments. “As a market-leading net-lease REIT, our high-quality portfolio and fully integrated real estate platform position us to be successful in today’s market. I am proud of the accomplishments that have led us to this most historic day in Cole’s 34-year history.”
To commemorate the listing, executives and guests of Cole will visit the NYSE to ring the Opening Bell on Friday, June 21st at 9:30 a.m.
Marc Nemer, chief executive officer of Cole Real Estate Investments, added, “It is an honor to be a NYSE-traded company, continuing our mission of being the premier, trusted brand in real estate. Stockholders will benefit from our proven investment strategy that has built one of the largest REITs focused on the net-lease sector. We are confident today’s listing provides the opportunity to build on that market leadership.”
With Cole’s listing, investors can own an interest in Cole’s high-quality commercial real estate portfolio featuring a 12.4 year weighted average lease term, 99% portfolio occupancy and 55% investment grade tenancy. The $7.7 billion of gross assets is well diversified by industry, tenancy and geography. Industry-leading tenants in the net lease portfolio include Walgreens, CVS/pharmacy, Amazon.com, Walmart, Target, Costco, Home Depot, FedEx, PetSmart, AT&T, Kohl’s and Merrill Lynch. In addition to being one the largest REITs in the net lease sector, Cole’s private capital business, Cole Capital, provides additional income as a result of management fees earned from sponsored real estate vehicles.
In addition, on June 17, 2013, Cole’s Board of Directors authorized the declaration and payment of a cash distribution on a monthly basis, in the amount of $0.05833334 per share of common stock (an annualized rate of $0.70 per share) for stockholders of record as of each of July 31, 2013, August 30, 2013, and September 30, 2013. Payment dates for each record date are August 1, 2013, September 3, 2013, and October 1, 2013, respectively.