We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Simon Property (SPG) Plans to Invest $1B in its Portfolio
Read MoreHide Full Article
Simon Property Group, Inc. (SPG - Free Report) , the Indianapolis, IN-based retail real estate investment trust (REIT), is continuing with its strategy to invest in its portfolio. The underlying idea is to augment the number of visitors and enhance their experience.
Simon Property is engaged in acquiring, owning and leasing a diverse portfolio of shopping malls. The company reported first-quarter 2017 funds from operations (FFO) of $2.74 per share, missing the Zacks Consensus Estimate by 2 cents. Despite choppy retail environment during the quarter, the company reaffirmed its earlier outlook.
Importantly, increasing consumer purchases through the Internet has emerged as a pressing concern for retail REITs, including Simon Property, which is striving to counter the pressure through various initiatives. Given this backdrop, the latest initiatives to lift the shopping experience of the customers is very significant.
In fact, in the last five years, the retail REIT invested over $5 billion in development projects and intends to spend around $1 billion each in 2017 and 2018. Several initiatives are likely to be taken by the company to enhance the premier shopping, dining and entertainment destinations across the U.S. These include investing in various physical projects, renovation, interior enhancements, redevelopment, redevelopment, addition of new restaurants and eateries, mixed-use developments etc.
Shares of Simon Property have underperformed the Zacks categorized REIT and Equity Trust - Retail industry in the last three months. Shares of the company have decreased 14.5%, whereas the industry has lost 10%. Moreover, in the last 30 days, both its second quarter and full-year 2017 FFO per share estimates moved down.
Currently, Simon Property carries a Zacks Rank #3 (Hold).
In the last 30 days, Easterly Government Properties’ FFO per share for second-quarter 2017 remained unchanged at 31 cents.
In the last 30 days, Gaming and Leisure Properties’ FFO per share for second-quarter 2017 increased 1.3% to 77 cents.
In the last 30 days, DiamondRock Hospitality Company’ FFO per share for second-quarter 2017 remained unchanged at 31 cents.
Note: FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. All EPS numbers presented in this write up represent FFO per share.
Zacks' 2017 IPO Watch List
Before looking into the stocks mentioned above, you may want to get a head start on potential tech IPOs that are popping up on Zacks' radar. Imagine being in the first wave of investors to jump on a company with almost unlimited growth potential? This Special Report gives you the current scoop on 5 that may go public at any time.
Image: Bigstock
Simon Property (SPG) Plans to Invest $1B in its Portfolio
Simon Property Group, Inc. (SPG - Free Report) , the Indianapolis, IN-based retail real estate investment trust (REIT), is continuing with its strategy to invest in its portfolio. The underlying idea is to augment the number of visitors and enhance their experience.
Simon Property is engaged in acquiring, owning and leasing a diverse portfolio of shopping malls. The company reported first-quarter 2017 funds from operations (FFO) of $2.74 per share, missing the Zacks Consensus Estimate by 2 cents. Despite choppy retail environment during the quarter, the company reaffirmed its earlier outlook.
Importantly, increasing consumer purchases through the Internet has emerged as a pressing concern for retail REITs, including Simon Property, which is striving to counter the pressure through various initiatives. Given this backdrop, the latest initiatives to lift the shopping experience of the customers is very significant.
In fact, in the last five years, the retail REIT invested over $5 billion in development projects and intends to spend around $1 billion each in 2017 and 2018. Several initiatives are likely to be taken by the company to enhance the premier shopping, dining and entertainment destinations across the U.S. These include investing in various physical projects, renovation, interior enhancements, redevelopment, redevelopment, addition of new restaurants and eateries, mixed-use developments etc.
Shares of Simon Property have underperformed the Zacks categorized REIT and Equity Trust - Retail industry in the last three months. Shares of the company have decreased 14.5%, whereas the industry has lost 10%. Moreover, in the last 30 days, both its second quarter and full-year 2017 FFO per share estimates moved down.
Currently, Simon Property carries a Zacks Rank #3 (Hold).
Investors interested in the REIT space, may consider better-ranked stocks like Easterly Government Properties, Inc. (DEA - Free Report) , Gaming and Leisure Properties, Inc. (GLPI - Free Report) and DiamondRock Hospitality Company (DRH - Free Report) , each carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the last 30 days, Easterly Government Properties’ FFO per share for second-quarter 2017 remained unchanged at 31 cents.
In the last 30 days, Gaming and Leisure Properties’ FFO per share for second-quarter 2017 increased 1.3% to 77 cents.
In the last 30 days, DiamondRock Hospitality Company’ FFO per share for second-quarter 2017 remained unchanged at 31 cents.
Note: FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. All EPS numbers presented in this write up represent FFO per share.
Zacks' 2017 IPO Watch List
Before looking into the stocks mentioned above, you may want to get a head start on potential tech IPOs that are popping up on Zacks' radar. Imagine being in the first wave of investors to jump on a company with almost unlimited growth potential? This Special Report gives you the current scoop on 5 that may go public at any time.
One has driven from 0 to a $68 billion valuation in 8 years. Four others are a little less obvious but already show jaw-dropping growth. Download this IPO Watch List today for free >>