We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
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 Announces Nashville Premium Outlet Development Plan
Read MoreHide Full Article
Simon Property Group (SPG - Free Report) recently announced its plan to develop a luxury shopping and lifestyle destination in Nashville, TN, the construction of which is set to begin in 2026. Spanning 325,000 square feet, Nashville Premium Outlets will have 75 best-in-class retailers, restaurants and a hotel. This may further include residential options, big-box retailers and more.
The above development showcases Simon’s strategy for growth, highlighting its efforts to expand its reach and scale.
In collaboration with the well-known Nashville-based hospitality pioneer Adventurous Journeys (“AJ”) Capital Partners, Simon is spearheading this development at Thompson’s Station, TN. At the intersection of Interstate 65 and Interstate 840, it is expected to become a major attraction for shoppers and tourists alike from around the state and region.
Simon’s Nashville Connection
Simon, a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations, has been tapping the Nashville market with two other iconic outlets — Opry Mills and The Mall at Green Hills.
The grandeur Opry Mills is the area’s largest shopping destination, with more than 200 stores and 20 restaurants serving the needs of shoppers. The Mall at Green Hills, in a joint venture with Taubman Realty Group, also helms a collection of high-end fashion brands and luxury boutiques.
The development of Nashville Premium Outlets will strengthen SPG’s foothold in this growing market and contribute to the long-term growth of this retail REIT.
SPG: In a Nutshell
Simon Property has been restructuring its portfolio, aiming at premium acquisitions and transformative redevelopments. Its focus on supporting omnichannel retailing and developing mixed-use assets is encouraging. The latest move is also in line with such efforts and is likely to drive healthy demand for its properties, aiding leasing activity, occupancy levels and rent growth.
Over the past six months, shares of this Zacks Rank #3 (Hold) company have risen 13.2%, outperforming its industry’s growth of 4.9%.
The Zacks Consensus Estimate for Phillips Edison & Company’s 2024 FFO per share stands at $2.42, indicating an increase of 3.4% from the year-ago reported figure.
The Zacks Consensus Estimate for Regency Centers’ 2024 FFO per share is pegged at $4.28, suggesting year-over-year growth of 3.1%.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Shutterstock
Simon Property Announces Nashville Premium Outlet Development Plan
Simon Property Group (SPG - Free Report) recently announced its plan to develop a luxury shopping and lifestyle destination in Nashville, TN, the construction of which is set to begin in 2026. Spanning 325,000 square feet, Nashville Premium Outlets will have 75 best-in-class retailers, restaurants and a hotel. This may further include residential options, big-box retailers and more.
The above development showcases Simon’s strategy for growth, highlighting its efforts to expand its reach and scale.
In collaboration with the well-known Nashville-based hospitality pioneer Adventurous Journeys (“AJ”) Capital Partners, Simon is spearheading this development at Thompson’s Station, TN. At the intersection of Interstate 65 and Interstate 840, it is expected to become a major attraction for shoppers and tourists alike from around the state and region.
Simon’s Nashville Connection
Simon, a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations, has been tapping the Nashville market with two other iconic outlets — Opry Mills and The Mall at Green Hills.
The grandeur Opry Mills is the area’s largest shopping destination, with more than 200 stores and 20 restaurants serving the needs of shoppers. The Mall at Green Hills, in a joint venture with Taubman Realty Group, also helms a collection of high-end fashion brands and luxury boutiques.
The development of Nashville Premium Outlets will strengthen SPG’s foothold in this growing market and contribute to the long-term growth of this retail REIT.
SPG: In a Nutshell
Simon Property has been restructuring its portfolio, aiming at premium acquisitions and transformative redevelopments. Its focus on supporting omnichannel retailing and developing mixed-use assets is encouraging. The latest move is also in line with such efforts and is likely to drive healthy demand for its properties, aiding leasing activity, occupancy levels and rent growth.
Over the past six months, shares of this Zacks Rank #3 (Hold) company have risen 13.2%, outperforming its industry’s growth of 4.9%.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks from the retail REIT sector are Regency Centers (REG - Free Report) and Phillips Edison & Company (PECO - Free Report) , each currently carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Phillips Edison & Company’s 2024 FFO per share stands at $2.42, indicating an increase of 3.4% from the year-ago reported figure.
The Zacks Consensus Estimate for Regency Centers’ 2024 FFO per share is pegged at $4.28, suggesting year-over-year growth of 3.1%.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.