The stock is down $2.20, or 2.2%, after the Wilmington, North Carolina, company announced plans to buy its real estate business from U.S. Realty Corp. The stock has been trading lower recently, closing at $2 for the week.
U.R.S.’s real estate brokerage said Wednesday that it expects to make the sale in the first half of the year.
The company will keep its headquarters in Wilmington, and will continue to work with its employees to help them relocate to the Delaware and Virginia area.
T. said in a statement that the Wilmington deal is a good match for its business, adding that it will continue providing strategic guidance and support for the real estate industry and will focus on the company’s future growth.