Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Simon Property Group    SPG

SIMON PROPERTY GROUP (SPG)
Mes dernières consult.
Most popular
Report
Delayed Quote. Delayed  - 11/22 06:57:12 pm
158.9 USD   -0.16%
11/16 MACY : Pleasanton men's store building bought by mall owner Simon Pr..
11/15DJCorrection to Mall Short Sellers Story
11/15 SIMON PROPERTY : ex-dividend day
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

REITs Lag Behind Broader Equities; Investors Make Room For Simon Deal

share with twitter share with LinkedIn share with facebook
share via e-mail
0
03/08/2012 | 10:22pm CET
   A.D. Pruitt 
   Of  
 

Real-estate stocks sat out the gains achieved in the broader equities markets Thursday as investors made way for a $1.5-billion debt offering from Simon Property Group Inc. (>> Simon Property Group, Inc), the nation's largest real-estate investment trust by market capitalization.

The MSCI US Reit Index was almost down almost 1% while the S&P 500 Index was up about 1% near the market's close. Among the largest REITs, Simon Property ended up a penny at $138.24 after being down for most of the trading session. Boston Properties Inc. (>> Boston Properties, Inc.) dropped 1.1% to $101.91 and Kimco Realty Corp. (>> Kimco Realty Corporation) declined 1% to $18.18.

Some analysts attributed the declines to investors selling out of some REITs to have cash to buy into Simon's three-part debt deal that was launched this session. The Indianapolis company is raising the debt to fund or repay loans partly used for the acquisition of a 28.7% equity interest in Klepierre (KLPEF, LI.FR), a publicly traded French REIT.

The company also issued about 7 million shares which can be dilutive to existing stock.

"We rarely see property deals," in the corporate bond market, said David Harris, an analyst with Imperial Capital. "I think that caused a few people to sell their positions to take up that offer. Otherwise, the stock would have traded with the market."

James Sullivan, an analyst at Cowen & Co., said that in addition to the Simon deal, REITs have been underperforming broader equities recently as more companies become fully valued. "REITs have lost some of their momentum," he said, noting the sector has usually outperformed during the last two years.

In a sign of waning demand, the National Association of Real Estate Investment Trusts' FTSE NAREIT All Equity REITs Index fell 0.91% in February, compared with a 4.32% gain for the S&P 500.

Sullivan added that he sees investors shifting to other sectors and out of REITs.

-By A.D. Pruitt, Dow Jones Newswires; 212-416-2197; [email protected]

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on SIMON PROPERTY GROUP
11/16 MACY : Pleasanton men's store building bought by mall owner Simon Property
11/15DJCorrection to Mall Short Sellers Story
11/15 SIMON PROPERTY GROUP : ex-dividend day
11/14DJMall Short Sellers Feel Some Pain
11/14 SIMON PROPERTY : Announces Premier Mixed-Use Development At Phipps Plaza
11/14 SIMON PROPERTY GROUP : Dividend Coverage: The Largest Shopping Mall Operator in ..
11/13 SIMON PROPERTY GROUP INC /DE/ : Change in Directors or Principal Officers, Finan..
11/10 SIMON : Property Group Announces Appointment of Stefan M. Selig to Board of Dire..
11/06 SIMON : Recognized As A 2017 Global Leader For Its Commitment To Sustainability
11/06 SIMON PROPERTY : Recognized As A 2017 Global Leader For Its Commitment To Sustai..
More news
News from SeekingAlpha
08:39a Mystery Stocks Revealed In My 88 Stock Portfolio Along With 2018 Income Estim..
11/21 7% Yielding REIT Rallies Hard, Should You Sell?
11/20 How To Retire At 60 With A Million
11/20 5 Midstream MLPs You Should Buy Now For Both Yield And Price Appreciation Pot..
11/20 A New Paradigm For The Mall REIT Sector
Financials ($)
Sales 2017 5 463 M
EBIT 2017 2 810 M
Net income 2017 2 065 M
Debt 2017 25 268 M
Yield 2017 4,50%
P/E ratio 2017 25,04
P/E ratio 2018 23,13
EV / Sales 2017 13,9x
EV / Sales 2018 13,4x
Capitalization 50 921 M
Chart SIMON PROPERTY GROUP
Duration : Period :
Simon Property Group Technical Analysis Chart | SPG | US8288061091 | 4-Traders
Technical analysis trends SIMON PROPERTY GROUP
Short TermMid-TermLong Term
TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 188 $
Spread / Average Target 18%
EPS Revisions
Managers
NameTitle
David E. Simon Chairman & Chief Executive Officer
Richard S. Sokolov President, Chief Operating Officer & Director
Andrew A. Juster Chief Financial Officer & Executive Vice President
David Schacht Chief Information Officer & Senior Vice President
Karen N. Horn Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
SIMON PROPERTY GROUP-8.85%50 921
GGP INC-5.28%22 089
SCENTRE GROUP-10.78%16 855
WESTFIELD CORP LTD-12.90%12 981
REGENCY CENTERS CORP-2.25%11 535
MACERICH CO-9.36%8 984