|Bid||74.64 x 900|
|Ask||74.70 x 800|
|Day's Range||69.64 - 75.49|
|52 Week Range||42.25 - 168.52|
|Beta (5Y Monthly)||0.52|
|PE Ratio (TTM)||10.03|
|Earnings Date||Jul 29, 2020 - Aug 03, 2020|
|Forward Dividend & Yield||8.40 (11.53%)|
|Ex-Dividend Date||Feb 13, 2020|
|1y Target Est||78.21|
In April, Gap said it had stopped paying rent on stores that were closed because of the coronavirus—bills that added up to about $115 million in monthly expenses in North America.
Gap warned investors on April 23 that it was suspending rental payments for stores closed by the COVID-19 pandemic.
U.S. stocks closed sharply higher and topped some psychological thresholds Wednesday as a pair of reports suggested the worst might be past for the U.S. economy. The Dow Jones Industrial Average jumped about 527 points, 2.1%, to close near 26,270, while the S&P 500 gained 42 points or 1.4%, ending trading at about 3,123. The Nasdaq closed at about 9,683, up 75 points or 0.8%, finishing about 1.4% from its Feb. 19 record closing high at 9.817.18. Meanwhile, the Nasdaq-100 briefly traded above its February peak, before the coronavirus pandemic wracked markets and the economy. The day's action also saw the Dow punch above the symbolic 26,000 threshold. Job losses and service sector activity weren't as bad as feared in May, according to two separate reports, helping bolster investor sentiment. Travel stocks like Carnival Corp. and real-estate concerns like Simon Property Group Inc. rallied as investors snapped up some of the sectors that lost the most value during the lockdowns.
The stock market was having a very strong day on Wednesday. Mall operators and other retail real estate investment trusts were up by double digits for the day in many cases. Leading mall REIT Simon Property Group (NYSE: SPG) was up by nearly 15% and was the biggest gainer on the S&P 500 as of midday, while outlet mall REIT Tanger Factory Outlet Centers (NYSE: SKT) was higher by just over 10%.
Exchange-traded funds with real estate exposure outperformed Wednesday as property stocks surged on re-opening hopes. The Real Estate Select Sector SPDR Fund rose 2.4%, while the iShares U.S. Real Estate ETF rose 3% and the Vanguard Real Estate ETF was up 3.2% in the early afternoon. Mall operator Simon Property Group was one of the best performers in the S&P 500, up nearly 15% and marking its biggest one-day move since April 6. Another shopping center operator, Kimco Realty Corporation, was up nearly 12% at midday.
Shares of Simon Property Group soared Wednesday as the country's biggest mall owner continues to reopen properties that were closed by the coronavirus pandemic. In addition, 12 of Simon's designer and international premium outlet properties were reopened. Then the pandemic really put the kibosh on Simon, as it had to close all of its U.S. properties in March.
Moody's Investors Service, ("Moody's") has affirmed the ratings on six classes in Citigroup Commercial Mortgage Trust 2016-P3. Moody's received full year 2018 operating results for 100% and full or partial year 2019 operating results for 100% of the pool (excluding specially serviced and defeased loans).
There has been significant divergence between individual stock prices and their expected earnings next year, presenting some buying and selling opportunities for investors
The real estate sector includes companies that own, develop, and manage residential, commercial, and industrial properties. Each of these three real estate segments includes publicly traded real estate investment trusts (REITs).
One of the most important lessons of dividend investing is: If the yield looks too good to be true, it probably is. The coronavirus pandemic has driven up dividend yields as it's crushed stock prices, but with companies' earnings forecasts thrown into disarray, the same guideline applies -- a high yield is more likely to be a mirage than an opportunity. Annaly Capital Management (NYSE: NLY) is one of the premier mortgage real estate investment trusts (REITs).
The average year-over-year decline in foot traffic at eight malls in seven states from May 1-11 was 75%, according to Placer.ai.
With that in mind, here's why I bought U.S. Bancorp (NYSE: USB), Planet 13 Holdings (OTC: PLNH.F), and Simon Property Group (NYSE: SPG) in recent weeks as the pandemic continues. At the start of 2020, the stock traded for roughly double its book value, which is actually par for the course for U.S. Bancorp.
Shares of mall-focused real estate investment trust Simon Property Group (NYSE: SPG) rose as much as 12% in the first half hour of the trading day on May 18. Following closely behind was Macerich (NYSE: MAC), which was up 11%, and factory outlet specialist Tanger Factory Outlet Centers (NYSE: SKT). Trailing a little behind this trio was Pennsylvania REIT (NYSE: PEI), which was up in the high single digits.
Tanger and Simon are struggling through a difficult period for malls, but Simon looks better positioned for the long term
U.S. stocks tumbled into the close on Tuesday as investors continued to weigh efforts to reopen economies against the risk of setbacks in the fight against coronavirus.
The S&P 500 struggled for direction on Tuesday as the risks of reopening the economy too soon overshadowed hopes of a jump-start to a battered global economy, following an easing of virus-led business shutdowns. Among the 11 major sectors, financial stocks, which generally lag when the economic outlook dims, weighed the most on the S&P 500. Optimism about an economic recovery and massive stimulus measures have helped the benchmark index climb about 34% from the lows of a pandemic-driven selloff in March.
Among the 11 major sectors, financial stocks, which generally lag when the economic outlook darkens, weighed the most on the S&P 500. Optimism about an economic recovery and massive stimulus measures have helped the benchmark index climb about 34% from the lows of a pandemic-driven selloff in March. Leading U.S. infectious disease expert Anthony Fauci on Tuesday warned Congress that while the federal government is working to help manufacture a vaccine against the new coronavirus, its development "might take some time" to come to market.
Simon Property Group (NYSE: SPG) told analysts it planned to open half of its shopping malls this week. Last month, it was reported last month that Simon intended to begin reopening almost 50 malls the first week of May as states permitted. CEO David Simon said, "we are now leading the effort for these local economies to get back to business while delivering a new elevated standard of safety for all."
Simon Property, the biggest U.S. mall operator, plans to have at least half of its 200 retail properties up-and-running by next week as coronavirus lockdown restrictions ease.