Wed, Oct. 26, 5:06 PM
Tue, Oct. 25, 5:35 PM
- ABX, ACGL, AEM, AHL, ALDW, ALGT, AMSF, ANIK, AR, ARI, ARRS, AXS, AXTI, BGG, BWLD, CAA, CACI, CAKE, CDE, CHE, CMO, CMPR, CRY, CSGP, CSII, CW, DDR, DLB, DRE, ECHO, EFX, EGHT, EPE, EQY, ESND, ESV, EXR, FBHS, FFIV, FISV, FORR, GG, GRPN, GTY, HUBG, IBKC, INFN, JBT, KEX, KMT, KNX, KRA, KRC, KWR, LLNW, LMAT, MB, MC, MEOH, MKSI, MMLP, MMSI, MN, MUR, NEM, NEU, NOW, NTGR, NTRI, NXPI, O, OCN, ORLY, PLNT, PLXS, PPC, PRXL, PSA, PTC, QDEL, QEP, QTM, RCII, RGA, RHI, RJF, SCI, SFLY, SGMO, SHLM, SIGI, SU, TER, TILE, TIS, TRN, TSLA, TTMI, TXN, TYL, UCTT, UHS, UNM, VAR, VMW, WCN, WDC, WIRE, WLL, XL
Tue, Oct. 18, 10:18 AM
- Downgrading DDR (DDR -0.2%) to Underperform from Neutral, analyst Floris van Dijkum says the company could suffer higher than expected dilution from asset sales like the recently closed upstate NY portfolio.
- It's a valuation call for Weingarten Realty (WRI +0.3%), with van Dijkum saying the recent decline (down 13% since Aug. 1) leaves the shares accurately reflecting the company's solid fundamentals. She upgrades to Neutral from Underperform.
- For its part, DDR has suffered a 17% drop over the same time frame.
Mon, Sep. 19, 7:26 AM
Thu, Aug. 25, 10:51 AM
Tue, Jul. 26, 5:53 PM
- Q2 operating FFO of $122.4M or $0.33 per share vs. $111.4M and $0.31 one year ago.
- Same-store NOI growth of 3.1%.
- 338 new leases for 2.3M square feet. New leasing spreads of 27.7% and renewal lease spreads of 7%.
- Portfolio lease rate of 96.1% up 10 bps from start of year and 30 bps Y/Y.
- Annualized base rent per occupied square foot up 3.8% to $14.92.
- Full-year operating FFO guidance is upped to $1.23-$1.26 per share from $1.20-$1.25 previously. Disposition guidance remains at $600M-$800M.
- Previously: DDR beats by $0.02, beats on revenue (July 26)
- DDR flat after hours
Tue, Jul. 26, 5:06 PM
Mon, Jul. 25, 5:35 PM
- AAPL, AIZ, AKAM, AKR, ALDR, AMP, APC, ARI, ASH, AXS, BCR, BJRI, BLDP, BVN, BWLD, BXMT, BXP, CAVM, CB, CEB, CHRW, CINF, CNO, CSV, CTXS, CUZ, CVA, DDR, DMRC, DOX, EQR, ETH, EW, FSP, FTK, GHL, GLF, GMED, HUBG, HURN, ILMN, IRBT, JBT, JNPR, KN, LLTC, LNDC, MDR, MTCH, MTSI, NANO, NCR, NUVA, OIS, PEI, PNRA, PSB, QTS, RGC, RHI, RNR, RRC, RSYS, SGEN, SKT, TGB, TRMK, TRU, TSS, TWTR, UDR, UHS, UIS, ULTI, UMBF, USNA, VR, WES, WGP, WNC, X, ZION, ZIXI
Mon, Jul. 11, 7:55 AM| Mon, Jul. 11, 7:55 AM
Wed, May 18, 10:42 AM
- Target is the latest major retailer to report a disappointing Q1 and issue weak forward guidance. It's lower by 9% today.
- Those REITs which may rent to the likes of Target or Wal-Mart or Macy's or Nordstrom ... may be starting to sense a trend.
- Simon Property (SPG -1.1%), General Growth (GGP -1.5%), Kimco (KIM -1.6%), PREIT (PEI -1.8%), DDR (DDR -1.7%), CBL (CBL -3.1%), Federal Realty (FRT -1.2%).
- IYR -0.95%
Tue, May 17, 11:02 AM
- Following up on yesterday's story about the divergence between the stock prices of major retailers (down) and those of their landlords (up), Bloomberg's Rani Molla and Shelly Banjo break down the numbers further.
- They find those REITs with a large portion of portfolios concentrated in malls are down 10% Y/Y vs. all REITs, which are higher by 6%. Going further, they find those REITs with exposure to higher-end malls and outlet centers - Simon Property Group (NYSE:SPG) and Tanger Factory (NYSEMKT:SKY) come to mind – have been spared, while those owning older malls have taken the hit. CBL & Associates (NYSE:CBL) and WP Glimcher (NYSE:WPG) are down 40% and 30% this year, respectively.
- It's easy to pick on mall owners, but a broad slowdown at brick-and-mortar stores is ultimately a threat to all retail landlords, as traffic across all types of retail real estate in the U.S. and Canada has fallen as much as 18% Y/Y.
- On the good side is low supply as developers have stopped building, but even that's begun to run its course, they write.
- REITs of interest: O, NNN, GGP, KIM, WRI, MAC, TCO, PEI, SKT, TCO, ROIC, RPAI, IRC, FRT, DDR, WHLR, EQY, KRG, REG
Wed, May 11, 8:05 AM
- DDR (NYSE:DDR) declares $0.19/share quarterly dividend, in line with previous.
- Forward yield 4.14%
- Payable July 6; for shareholders of record June 9; ex-div June 7.
Thu, Apr. 28, 5:15 PM
- DDR (NYSE:DDR): Q1 FFO of $0.31 beats by $0.01.
- Revenue of $246.25M (-1.8% Y/Y) misses by $0.66M.
Wed, Apr. 27, 5:35 PM
- ABAX, ACHC, AEM, AIV, AJG, ALDR, ALGN, AMCC, AMGN, AMZN, ARII, ATEN, ATHN, ATR, ATRC, AZPN, BCOV, BGS, BIDU, BMRN, BOOM, BRKS, BVN, CATM, CENX, CHDN, CHE, CHMT, CLD, CLW, COHR, COLM, COWN, CPHD, CPT, CUBE, DDR, DGII, DLR, ECOL, EHTH, ELLI, EMN, EPAY, EPR, ESS, EXLS, EXPE, EYES, FET, FII, FLEX, FLS, FPO, GB, GILD, GIMO, GNW, GRPN, HELE, HIG, HT, HTH, HURN, HWAY, INVA, IPHI, ISBC, JNPR, KBR, KRG, LEG, LNKD, LOGM, LPLA, MATW, MMSI, MOBL, MOH, MSA, MSCC, N, NATI, NFG, NPTN, NR, NSIT, NSR, NUS, OFIX, OMCL, OUTR, P, PCCC, PDFS, PFG, PODD, PXLW, QLIK, RGA, RGC, ROVI, RRC, RSG, SCSS, SGEN, SHOR, SKYW, SMCI, SNMX, SPN, SPNC, SRCL, STRZA, SWKS, SYNA, TEP, TLGT, TMST, TNDM, TRMB, TXTR, VCRA, VDSI, VGR, VR, VRSN, WDC, YRCW
Mon, Apr. 25, 9:44 AM
- Being mulled by owners of shopping centers/malls this morning is new research from Green Street Advisors suggesting department stores need to close about 800 locations, or 20% of all anchor space in U.S. malls.
- Sears alone would need to close 43% of its stores to get inflation adjusted sales per square foot back to 2006 levels. Of course, retailers like Sears, Macy's, and J.C. Penney have already closed hundreds of spots over the past few years.
- The Green Street study says sales per square foot of $165 last year were down 24% from 2006, while physical footprints are off just 7%.
- Department stores may not agree. J.C. Penney CFO has said that when the company closes a store - particularly in a small market - dot.com business also goes down.
- Watching with interest: RPAI, IRC, KIM, FRT, DDR, EQY, CBL, SPG, GGP, BRX, WRI, PEI
Fri, Apr. 15, 9:56 AM