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Simon Property (SPG) to Launch Retail Hub in November
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Simon Property Group, Inc. (SPG - Free Report) announced that it will open The Edit@Roosevelt Field, an innovative retail destination, in Long Island, this November.
Located at the nation’s prime shopping center, The Edit@Roosevelt Field will offer a mix of established and emerging brands. Further, brands which currently have only an online presence will set foot in the physical-store space by launching pilot stores in the mall.
The Edit@Roosevelt Field will offer a wide range of luggage, dessert outlet, menswear, athletic apparel and beauty brands, including Raden Smart Luggage, Skinnydip London, Vitaly, Rhone, Winky Lux, Beltology and JARS by Dani.
Designed by O'Neil Langan Architects, this turnkey project will feature a rotating selection of new and innovative brands. The Edit@Roosevelt Field will rent stores in micro-retail unit formats, in the range of 20-100 square feet of space. It will also provide digital media walls, modular fixturing systems and store staff, if needed.
Simon has partnered with Appear Here to bring brands to the mall. Appear Here will connect brands and retailers with the shopping center, providing short-term retail space. Per Elizabeth Layne, Appear Here CMO, The Edit@Roosevelt Field will provide a platform to emerging brands and help build brand awareness in the premium retail center setting.
Simon has also partnered with technology platform — AllWork — to help retailers strategically manage its retail manpower. This will help cut costs, elevate sales and improve services offered to customers.
Simon malls enjoy high traffic which is beneficial for online brands aimed at expanding product reach and widen the customer base. The turnkey micro-retail model will allow brand ambassadors to interact with shoppers, and provide product and brand information and increase sales through this communication.
Online brands will get an opportunity to display products in the brick and mortar space, helping the companies interact with customers and market the brand faster. Also, this model offers an interactive and unique shopping experience to customers.
Amid rising popularity of Internet purchases, Simon’s efforts to introduce online brands in the showroom retail space, bode well. However, due to the gloomy retail market, this Zacks Rank #2 (Buy) company has underperformed its industry year to date. Shares of Simon have descended 6.9%, as compared to the 4.3% loss incurred by the industry.
Other Stocks to Consider
Other top-ranked stocks in the REIT space include Wheeler Real Estate Invest Trust, Inc. (WHLR - Free Report) , EPR Properties (EPR - Free Report) and DDR Corp. . While Wheeler sports a Zacks Rank of 1 (Strong Buy), ERP Properties and DDR Corp carry a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Wheeler’s funds from operation (FFO) per share estimates for 2017 moved up 5.6% to $1.50 in a month’s time.
EPR Properties’ FFO per share estimates for the current year remained unchanged at $5.16 over the past 30 days.
DDR Corp’s 2017 FFO per share estimates remained unchanged at $1.14 during the same time frame.
Note: All EPS numbers presented in this write up represent funds from operations (“FFO”) per share. FFO, 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.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
Image: Bigstock
Simon Property (SPG) to Launch Retail Hub in November
Simon Property Group, Inc. (SPG - Free Report) announced that it will open The Edit@Roosevelt Field, an innovative retail destination, in Long Island, this November.
Located at the nation’s prime shopping center, The Edit@Roosevelt Field will offer a mix of established and emerging brands. Further, brands which currently have only an online presence will set foot in the physical-store space by launching pilot stores in the mall.
The Edit@Roosevelt Field will offer a wide range of luggage, dessert outlet, menswear, athletic apparel and beauty brands, including Raden Smart Luggage, Skinnydip London, Vitaly, Rhone, Winky Lux, Beltology and JARS by Dani.
Designed by O'Neil Langan Architects, this turnkey project will feature a rotating selection of new and innovative brands. The Edit@Roosevelt Field will rent stores in micro-retail unit formats, in the range of 20-100 square feet of space. It will also provide digital media walls, modular fixturing systems and store staff, if needed.
Simon has partnered with Appear Here to bring brands to the mall. Appear Here will connect brands and retailers with the shopping center, providing short-term retail space. Per Elizabeth Layne, Appear Here CMO, The Edit@Roosevelt Field will provide a platform to emerging brands and help build brand awareness in the premium retail center setting.
Simon has also partnered with technology platform — AllWork — to help retailers strategically manage its retail manpower. This will help cut costs, elevate sales and improve services offered to customers.
Simon malls enjoy high traffic which is beneficial for online brands aimed at expanding product reach and widen the customer base. The turnkey micro-retail model will allow brand ambassadors to interact with shoppers, and provide product and brand information and increase sales through this communication.
Online brands will get an opportunity to display products in the brick and mortar space, helping the companies interact with customers and market the brand faster. Also, this model offers an interactive and unique shopping experience to customers.
Amid rising popularity of Internet purchases, Simon’s efforts to introduce online brands in the showroom retail space, bode well. However, due to the gloomy retail market, this Zacks Rank #2 (Buy) company has underperformed its industry year to date. Shares of Simon have descended 6.9%, as compared to the 4.3% loss incurred by the industry.
Other Stocks to Consider
Other top-ranked stocks in the REIT space include Wheeler Real Estate Invest Trust, Inc. (WHLR - Free Report) , EPR Properties (EPR - Free Report) and DDR Corp. . While Wheeler sports a Zacks Rank of 1 (Strong Buy), ERP Properties and DDR Corp carry a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Wheeler’s funds from operation (FFO) per share estimates for 2017 moved up 5.6% to $1.50 in a month’s time.
EPR Properties’ FFO per share estimates for the current year remained unchanged at $5.16 over the past 30 days.
DDR Corp’s 2017 FFO per share estimates remained unchanged at $1.14 during the same time frame.
Note: All EPS numbers presented in this write up represent funds from operations (“FFO”) per share. FFO, 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.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>