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Simon Partners with Urbanspace on Festive Holiday Market

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Simon Property Group Inc. (SPG - Free Report) has partnered with Urbanspace, the top market maker in New York City, for a new holiday market during the impending festive season. The festive marketplace, named as The Holiday Market by Urbanspace, will be set up inside the vibrant Roosevelt Field Mall in Garden City, NY. Located in the North Court on the main level, the holiday market will be open from Nov 25 through Dec 24 and will follow the regular mall operations timing.

The Holiday Market will offer an exciting and personalized shopping experience to the visitors with bouquet of elegant gift products from local artisans. The new festive market will feature 12 independent merchants including Ambica New York, New York Puzzle Company, The Lodge, All Across Africa, Lovepop etc.

This partnership showcases Simon’s commitment to all kinds of retailers, such as the luxury to lifestyle to emerging brands, on all occasions. Simon is engaged in acquiring, owning and leasing a diverse portfolio of shopping malls.

Currently, Simon Property has a Zacks Rank #3 (Hold). Over the past seven days, its current quarter FFO estimate has remained unchanged at $2.89.

Some better-ranked stocks in the same space include Seritage Growth Properties (SRG - Free Report) , Duke Realty Corporation (DRE - Free Report) and DCT Industrial Trust Inc. (DCT - Free Report) . All these stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Seritage Growth Properties’ current-quarter estimates have moved up 1.7% over the past one month to 59 cents.

Duke Realty’ current-quarter estimates have moved up 3.3% over the past one month to 31 cents.

Current-quarter estimates for DCT Industrial Trust remained unchanged at 56 cents over the past month.

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.

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