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Strength Seen in Condor Hospitality Trust, Inc. (CDOR): Can Its 13.6% Jump Turn into More Strength?

4 13 1
24.09.2021

Condor Hospitality Trust, Inc. (CDOR) shares rallied 13.6% in the last trading session to close at $6.15. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 6.4% loss over the past four weeks.

The increased investor optimism can be attributed to the announcement made by Condor to sell its entire portfolio of hotels for $305 million, to the affiliates of Blackstone Real Estate Partners. The all-cash deal is expected to occur in the fourth quarter of 2021.

Condor’s board of directors has also adopted a Plan of Liquidation and Dissolution, which might lead to an orderly wind down of the company’s business affairs. The company intends to distribute certain net proceeds from the........

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