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) Centers Will Add Flying Tiger Outlets
Read MoreHide Full Article
Simon Property Group, Inc. (SPG - Free Report) announced that Flying Tiger Copenhagen — the Danish brand — will open its stores at the New Jersey and New York-based Menlo Park Mall, Roosevelt Field, Walt Whitman Shops and Newport Centre, in line with its aggressive expansion plans.
With these store openings, Flying Tiger will set foot in the markets of New Jersey and New York. Scheduled to open just in time for the holidays this year, these outlets highlight the brand’s first endeavor in U.S. enclosed mall locations.
At present, the brand has five stand-alone stores in the United States. Notably, its stores in the enclosed shopping center format have been well received in the Asian and European markets.
Simon Property is a preeminent retail real estate investment trust (REIT), with retail assets in premium locations across the United States. This will help the Danish brand to easily foray into in its targeted markets. Hence, Flying Tiger has strategically partnered with Simon Property to expand its footprint in the most sought after retail destinations of the country.
On the other hand, the brand’s out-of-the-box range of products will offer a unique shopping experience to customers. This is in line with Simon Property’s efforts to upgrade services and amenities provided to its consumers. Such initiatives are anticipated to draw more traffic at the company’s properties.
However, increasing online purchases have emerged as a pressing concern for the retail REITs. Simon Property has been striving to counter this pressure by focusing on omni-channel retailing and other such initiatives. However, it may take a while for these efforts to offset the challenges that are currently plaguing this REIT.
Year to date, shares of Simon have underperformed the industry. While the company’s shares have declined 9.5%, the industry incurred a loss of 4.5% during this period. The stock currently carries a Zacks Rank #3 (Hold).
Stocks to Consider
Better-ranked stocks in the REIT space include Seritage Growth Properties (SRG - Free Report) , Getty Realty Corporation (GTY - Free Report) and Communications Sales & Leasing, Inc. (UNIT - Free Report) . While Seritage and Getty Realty sport a Zacks Rank #1 (Strong Buy), Communications Sales & Leasing carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Seritage’s funds from operation (FFO) per share estimates for 2017 inched up 0.5% to $2.01 over the past 60 days.
Getty Realty’s FFO per share estimates for 2017 moved up 3.1% to $2 in a week’s time.
Communications Sales & Leasing’s 2017 FFO per share estimates climbed 14.4% to $2.54 in the last 60 days.
Note: All EPS numbers presented in this write up represent funds from operations (“FFO”) per share. 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.
More Stock News: This Is Bigger than the iPhone
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Image: Bigstock
Simon Property (SPG) Centers Will Add Flying Tiger Outlets
Simon Property Group, Inc. (SPG - Free Report) announced that Flying Tiger Copenhagen — the Danish brand — will open its stores at the New Jersey and New York-based Menlo Park Mall, Roosevelt Field, Walt Whitman Shops and Newport Centre, in line with its aggressive expansion plans.
With these store openings, Flying Tiger will set foot in the markets of New Jersey and New York. Scheduled to open just in time for the holidays this year, these outlets highlight the brand’s first endeavor in U.S. enclosed mall locations.
At present, the brand has five stand-alone stores in the United States. Notably, its stores in the enclosed shopping center format have been well received in the Asian and European markets.
Simon Property is a preeminent retail real estate investment trust (REIT), with retail assets in premium locations across the United States. This will help the Danish brand to easily foray into in its targeted markets. Hence, Flying Tiger has strategically partnered with Simon Property to expand its footprint in the most sought after retail destinations of the country.
On the other hand, the brand’s out-of-the-box range of products will offer a unique shopping experience to customers. This is in line with Simon Property’s efforts to upgrade services and amenities provided to its consumers. Such initiatives are anticipated to draw more traffic at the company’s properties.
However, increasing online purchases have emerged as a pressing concern for the retail REITs. Simon Property has been striving to counter this pressure by focusing on omni-channel retailing and other such initiatives. However, it may take a while for these efforts to offset the challenges that are currently plaguing this REIT.
Year to date, shares of Simon have underperformed the industry. While the company’s shares have declined 9.5%, the industry incurred a loss of 4.5% during this period. The stock currently carries a Zacks Rank #3 (Hold).
Stocks to Consider
Better-ranked stocks in the REIT space include Seritage Growth Properties (SRG - Free Report) , Getty Realty Corporation (GTY - Free Report) and Communications Sales & Leasing, Inc. (UNIT - Free Report) . While Seritage and Getty Realty sport a Zacks Rank #1 (Strong Buy), Communications Sales & Leasing carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Seritage’s funds from operation (FFO) per share estimates for 2017 inched up 0.5% to $2.01 over the past 60 days.
Getty Realty’s FFO per share estimates for 2017 moved up 3.1% to $2 in a week’s time.
Communications Sales & Leasing’s 2017 FFO per share estimates climbed 14.4% to $2.54 in the last 60 days.
Note: All EPS numbers presented in this write up represent funds from operations (“FFO”) per share. 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.
More Stock News: This Is Bigger than the iPhone
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>