|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||127.25 - 129.00|
|52 Week Range||116.20 - 177.98|
|Beta (3Y Monthly)||1.17|
|PE Ratio (TTM)||11.65|
|Earnings Date||Sep 27, 2019|
|Forward Dividend & Yield||10.80 (8.52%)|
|1y Target Est||189.32|
Every investor in Unibail-Rodamco-Westfield (AMS:URW) should be aware of the most powerful shareholder groups...
(Bloomberg) -- TLG Immobilien AG acquired nearly 10% of its larger German real estate rival Aroundtown AG and started talks to build one of Europe’s biggest property companies.A tie-up would bring together the deal-making acumen of Aroundtown, which has grown rapidly through capital raising in recent years, with the development expertise of TLG. Combining TLG’s German offices, stores and hotels with Aroundtown’s 16.2 billion euros ($17.8 billion) of European commercial real estate would create the largest publicly traded landlord of its kind in Europe.In addition to creating a “sector champion” with a combined 25.5 billion euros of assets, a merger could improve share liquidity and could lead to a potential inclusion in the DAX index that would lure new investors, JPMorgan Securities Plc analyst Tim Leckie wrote in a note to clients. A deal would also create savings and prevent rivals from scaling up through similar mergers, he wrote.“We welcome working with Aroundtown toward a future merger of the two companies and creating one of the largest commercial real estate firms in Europe with a focus on top tier cities in Germany and the Netherlands,” Sascha Hettrich, chairman of TLG’s supervisory board, said in a statement on Sunday.Stock RallyTLG said the price values the potential target at 8.3 euros a share, or 10.2 billion euros. It’s paying a 10% premium to Aroundtown’s closing price on Friday. The stock has rallied about 15% since mid-August.Aroundtown was trading up 2.5% at 10:45 a.m. in Frankfurt on Monday. TLG was down 1.3%.TLG bought the stake from Aroundtown’s largest investor, Avisco, which has an option to sell another 4.99% holding, according to a company statement.Aroundtown says it has a commercial property portfolio worth 16.2 billion euros. It also owns a stake in residential landlord Grand City Properties.TLG’s biggest shareholder is Israeli real estate investor Amir Dayan, who built up a 27% stake via his Ouram Holding vehicle. Ouram said Sunday it still backs the company’s supervisory board.Mall owner Unibail-Rodamco-Westfield is the largest publicly traded European landlord, followed by German residential companies Vonovia SE, and Deutsche Wohnen SE. TLG and Aroundtown would rank fourth in Europe by assets, if a merger is completed.(Updates with analyst comment in third paragraph.)\--With assistance from Virginia Van Natta.To contact the reporters on this story: James Ludden in New York at firstname.lastname@example.org;Jack Sidders in London at email@example.comTo contact the editors responsible for this story: Matthew G. Miller at firstname.lastname@example.org, Patrick Henry, Andrew BlackmanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- There are always crowds at the shopping mall inside the Oculus transit hub in lower Manhattan: commuters rushing to their trains, tourists wandering about after a stop at the nearby 9/11 Memorial & Museum or a photo shoot at the Statue of Liberty.The mammoth, butterfly-shaped Oculus draws as many as 120 million visits each year -- often people passing through on their way to somewhere else. Visitors spend just a little over a half hour on average at the mall, Westfield World Trade Center. Now, its operator has plans to get them to linger longer.“I’m not sure we need more traffic,” Jean-Marie Tritant, U.S. president for Unibail-Rodamco-Westfield, said in an interview. “We were lacking this kind of offer where people can stay, hang around, have a good time together.”Eager to remain relevant in the rapidly changing world of retail, URW is adding more food choices, seating, pop-up shops, health and wellness options and entertainment (think virtual reality). The French mall owner, which has 32 shopping centers in the U.S. and is Europe’s biggest commercial landlord, is also using loyalty perks and technology to learn more about customer preferences.One category the company doesn’t want to expand? Fashion.More Food, Less FashionToday, fashion makes up a little less than half of Westfield World Trade Center’s leasable area. URW’s goal is to whittle that down to closer to a third, while boosting other offerings, like eateries. Last month, it opened Market Lane, a food hall that includes a bakery, pizza counter and small grocery store. Upgraded dining options could make the Oculus a more-popular hangout for the neighborhood’s thousands of transit riders and workers, which collectively make up about 40% of the mall’s traffic.Another way to get people to stick around? Give them a place to exercise. Boxing studio Gloveworx opened in the Oculus at the beginning of the year, and Tritant said URW could bring in other niche fitness options, like CrossFit.The landlord regularly freshens the mix at its properties. Among the top-performing businesses at Westfield World Trade Center, Tritant said, are mattress maker Casper and luxury purse reseller Rebag, newer companies that established themselves on the internet before opening bricks-and-mortar locations. Later this year, URW plans to start spotlighting other emerging and high-end brands by featuring three- to six-month pop-ups in the center of the Oculus.Oculus ObstaclesThe road ahead won’t be an easy one. Malls across the country have battled to survive amid the shift to online shopping, and operating an indoor center in New York City, where street shopping is so popular, comes with its own set of challenges. Plus, the Oculus has a shiny, new competitor -- the $2 billion Shops at Hudson Yards that just opened on the far west side -- and is across from Brookfield Place, an office complex with its own retail and dining concourse.URW will need to reinvent the mall with “different stores, new graphics and more energy,” said Mitchell Moss, a professor of urban policy and planning at New York University. Opened in 2016 as a replacement for the original transit hub destroyed in the Sept. 11, 2001, terrorist attacks, Santiago Calatrava’s Oculus -- with its soaring ceilings and winding walkways -- wasn’t primarily designed as a shopping palace, and that’s part of the problem.“A good mall has multiple opportunities for serendipity as the basis for shopping, and this mall undermines that principal, because you’re bumping into open space, not into another store,” Moss said. “It’s beautiful interior space, but it’s not really conducive to shopping.”Birthday BonusesMany mall operators track location data on shoppers’ smartphones to determine what stores they’re going to and how long they’re staying. URW also seeks to engage more directly with visitors to learn about their preferences, Tritant said.One way the company does this is through its loyalty program, which notifies frequent patrons about special offers, discounts and new merchants. Visitors to the landlord’s U.S. malls stop at 2.6 stores on average. Offering more perks, like deals on your birthday, could boost that rate and give URW more insight into how customers shop.“We want to be able to be much more relevant in what we do for them,” Tritant said. “Everybody has a birthday.”To contact the reporter on this story: Lily Katz in New York at email@example.comTo contact the editors responsible for this story: Debarati Roy at firstname.lastname@example.org, Christine MaurusFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Investors can approximate the average market return by buying an index fund. But if you buy individual stocks, you can...
Unibail-Rodamco-Westfield's Garden State Plaza mall in Paramus, New Jersey, is being renovated. After the upgrades are complete, Garden State Plaza will have a residential community, office space and an outdoor park. One of the most valuable malls in America is about to get a total makeover, further signaling how bricks-and-mortar retail is evolving to include places to work, workout and even live — not just buy clothes.
On 31 December 2018, Unibail-Rodamco-Westfield (AMS:URW) released its earnings update. Generally, it seems that analyst forecasts are substantially optimistic, with profits...
Issued Just Weeks Ahead of 1Q Earnings Reports for U.S. Shopping Mall REITs, In-Depth Report Shows Volatile Activity Since 'Retail Apocalypse' New Performance Update Uses Unique 'Thasos Trade Area' Tool ...
WFD UNIBAIL-RODAMCO N.V.: 2018 ANNUAL REPORT On March 27, 2019 WFD Unibail-Rodamco N.V. ("WFD UR NV") released its Annual Report for the period ending December 31, 2018. The 2018 Annual Report ...
Amsterdam, March 19, 2019 Press release FULL-YEAR RESULTS 2018: WFD UNIBAIL-RODAMCO N.V. WFD Unibail-Rodamco N.V. (" WFD UR NV " or the " Company ") today reported its unaudited ...
Want to participate in a short research study? Help shape the future of investing tools and receive a $20 prize! The most recent earnings update Unibail-Rodamco-Westfield's (AMS:URW) released in DecemberRead More...
Unibail-Rodamco-Westfield is a €22.0b large-cap, real estate investment trust (REIT) based in Paris, France. REITs are basically a portfolio of income-producing real estate investments, which are owned and operated by Read More...