Retail property owner Simon Property Group Inc. said Friday its second-quarter results climbed by 56 percent on improved occupancy and increased property sales.
The U.S. Real Estate Investment Trust industry that witnessed two strong back-to-back performances in first quarter 2010 and fourth quarter 2009 somewhat lost its momentum in its fiscal 2010 second quarter.
Simon Property Group Reports Second Quarter Results and Announces Quarterly DividendPR NewswireINDIANAPOLIS, July 30INDIANAPOLIS, July 30 /PRNewswire-FirstCall/ -- Simon Property Group, Inc. (the 2010 07 30 07:00
Here is a list of 15 companies releasing earning statements on July 30. We've sorted the companies by market cap, and have briefly discussed their earnings performance over the past 3 years.
The charts show past earning performances against analyst estimates. The green markers indicate the company beating estimates, while the red makers represent the company falling short of analyst expectations. All data is sourced from Zacks Investment Research.
Morningstar analyst Todd Lukasik expects a flurry of purchase activity in the commercial real estate space, starting now and then intensifying in 2011 and 2012.
It's not so much that the commercial real estate market is healthy, but rather that there will be massive amounts of distressed properties as many property owners' untenable debt burdens come due. (For more background, see a previous post here)
Commercial real estate purchase transactions are on the rise, and we believe this trend will have a long shelf life.
Since the beginning of the year, we've observed an increase in both the number and the size of purchase transactions across our commercial real estate coverage. The REITs we track are making acquisitions that range in size from a few million dollars to hundreds of millions of dollars, in either single asset transactions or portfolio deals.
Simon Property Group Inc. (SPG), a leading real estate investment trust (REIT), reported fiscal 2010 first quarter recurring FFO (funds from operations) of $1.41 per share that well exceeded the Zacks Consensus Estimate of $0.83. Funds from operations, 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.
Below we will cover the results of the recent earnings announcement, subsequent analyst estimate revisions and Zacks ratings for the short...
Real estate trusts (REITs) have had excellent rebounds off their lows last year. After the Dow Jones REIT Index closed at 86 (on March 6, 2009), it shot up 138% by Friday (May 14). Gains were fairly steady except for a lull period in the fall and early winter. Then a second surge in the last 3 months took the index to its 203 close.
After more than almost 14 months of a relatively stable recovery effort, many equity ETFs have climbed to within shouting distance of their pre-recession highs, as consumers have regained their swagger and companies are once again delivering solid earnings reports. Even the sectors that were closest to the economic implosion in late 2008 are showing signs of strength. Despite concerns over the potential regulatory impact, financials ETFs have been among the best performing sector ETFs to date in 2010. And real estate ETFs, some of which lost ...
IDC sold to private equity firms. Private equity firms Silver Lake and Warburg Pincus are buying Interactive Data Corp. (IDC), a financial market-data provider, for $3.4B total. The deal represents a 33% premium over IDC's closing price on Jan. 14, the last day before a strategic review of the company's options was announced. The deal is also one of the largest leveraged buyouts since the credit crisis began. U.K. publisher Pearson (PSO) will receive around $2B...
General Growth Properties (GGP) management has a responsibility to its shareholders to accept Simon Property Group's (SPG) offer of $18.25/share over the Brookfield/Pershing Square/Fairholme Capital Management offer of $15/share for 70% of the company. As a GGP shareholder, I would love to hold on to the company because it's probably worth double the $16.78/share it currently trades at. However, Brookfield/Pershing Square/Fairholme are buying 70% of the company at $15/share so current shareholders are left with little ownership anyway. I'd rather...
Stock market operator declares dividend of 30 cents per share, maintaining the amount paid to shareholders last quarter. This morning, NYSE Euronext declared its quarterly dividend of 30 cents per ...
Simon Property Group reported second quarter earnings of $152 million, or 52 cents per share, as revenue climbed bo $933 million. The company saw encouraging signs in the quarter as the economy ...
Simon Property Group, Inc. (NYSE: SPG | PowerRating) said it continues to expect 2010 earnings of $5.77 to $5.87 per share. The current consensus earnings estimate is $5.37 per share for the year ...
INDIANAPOLIS, July 30 /PRNewswire-FirstCall/ -- Simon Property Group, Inc. (the "Company" or "Simon") (NYSE: SPG) today announced results for the quarter ended June 30, 2010. Net income ...
By Chip Brian Below are the top five companies in the Retail REITs industry as measured by lowest relative performance. This analysis was based on yesterday's trading activity as we search for ...
Simon Property Group Inc. (SPG) [Chart - Analysis - News] lost some ground during trading yesterday, but it appears there is some bullish pressure building up in the background. Looking at ...
Noblesville A Hamilton County judge on Friday ordered Bren Simon to stop distributing money from her late husband's estate without getting approval from the court. Hamilton Superior Court Judge ...
Analysts were expecting Washington Real Estate Investment Trust (WRE) [Chart - Analysis - News] earnings to come in at $0.50 per share for last quarter, and WRE met expectations with actual ...
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