Why Are Tesla, Monster Beverage and Three Other Stocks on the Move Today?

Senior Housing Properties Gets Outperform Rating

Senior Housing Properties Trust (NYSE:SNH) is in the spotlight today after Canadian investment firm RBC Capital upgraded the company to “Outperform” from “Sector Perform”. The firm also increased its price target for the real estate company to $23 from $18. Analysts at RBC Capital think that the Senior Housing’s expected sale of its joint-venture interest in tow office properties in Boston will generate significant gains and improve the company’s stretched leveraged metrics. Billionaire Jim Simons’s Renaissance Technologies is one of the 11 funds long Senior Housing Properties Trust (NYSE:SNH), as of the end of the first quarter. It has 820,200 shares of the company.

South State Corporation and Southeastern Bank Financial Corporation Announce Merger

South State Corporation (NASDAQ:SSB) and Southeastern Bank Financial Corporation (OTCQB:SBFC) announced a joint merger agreement on Friday. According to the deal, shareholders of Southeastern Bank Financial Corporation will receive 0.7307 shares of South State Corporation’s common stock for each share of Southeastern Bank Financial Corporation’s common stock. The merger was unanimously approved by the board of directors of both companies. In a statement, CEO of South State Corporation Robert R. Hill Jr. said that his company is pleased to have a partnership with Georgia Bank & Trust. Mr. Hill added that both companies have very similar cultures and they look forward to enhance customer relationships and services together. Among the funds we track, 14 funds are bullish on South State Corporation (NASDAQ:SSB) as of the end of March this year. Mark Lee’s Forest Hill Capital owns 563,287 shares of the company.

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