An Interesting Uptick in Highlands REIT’s Recent CTT Auctions Results

March 6, 2019

An Interesting Uptick in Highlands REIT’s Recent CTT Auctions Results

February 28, 2019 | James Sprow | Blue Vault 

Blue Vault recently reported some selected auction results for five nontraded REITs whose common shares are auctioned in the third-party auction site Central Trade & Transfer (www.cttauctions.com). In that article, we listed Highlands REIT with 29 auction results from January 10, 2019 thru February 19, 2019. The average closing price per share for those auctions in which 133,992 shares were sold was $0.175 per share, and the highest price per share paid was $0.19 in just two of the 29 auctions. Interestingly, in six auctions that have closed since February 19, the closing price for Highlands REIT shares has moved up to $0.20 per share and averaged $0.19 per share. There are currently three open auctions for a total of 7,369 Highlands REIT shares and the bid price in all three is $0.20 per share as of noon on February 27, with over 24 hours to go before closing.  

Highlands REIT’s most recent estimated NAV per share was $0.33, announced in January 2019.

While a price increase of $0.025 per share is not substantial for most REIT auctions, it does represent a 14% bump for this nontraded REIT’s shares. The only noteworthy news for Highlands REIT since the previous article was a filing with the SEC on February 21 that documented a new secured revolving loan and secured term loan for up to $100 million in total from The Huntington National Bank.  

Sources:  Blue Vault, CTT Auctions

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