Banc Of California, Inc. shares rise 1.20% intraday due to EQT Real Estate's acquisition of logistics properties in California.

Banc Of California, Inc. rose 1.20% in intraday trading. The company's stock price increase may be attributed to the acquisition of logistics properties in California by EQT Real Estate, which includes four Class A properties located in Manteca, with a combined area of nearly 190,000 square meters. The buildings are fully leased to four tenants and, according to EQT, 'offer significant upside due to below-market rents and upcoming lease expirations.