Five Star Quality Care plans to delist its common shares from the New York Stock Exchange and move to the Nasdaq Stock Market, the company announced Monday in a filing with the Securities and Exchange Commission.
The move, expected to be effective at the close of the stock market June 30, was approved by Five Star’s board on Friday.
The RMR Group announced that, in addition to securities issued by Five Star, the listings of the common shares, preferred shares, notes and senior notes of the other real estate investment trusts and real estate operating companies it manages will transfer to Nasdaq as well. The move includes Government Properties Income Trust, Hospitality Properties Trust, Select Income REIT, Senior Housing Properties Trust and TravelCenters of America.
“We believe the Nasdaq will provide our managed companies with efficient trading and other high quality services on a cost-effective basis,” said Adam Portnoy, president and CEO of the RMR Group.
Common shares for Five Star will continue to trade under the symbol FVE, but ticker symbols related to some of the other securities will change.