Actualités Simon Property Group
Evercore ISI has upgraded its rating of Simon Property Group Inc (NYSE: SPG ) from an Inline rating to an Outperform, with a price target upgraded from $112 to $128. Simon Says And Does: The Indianapolis-headquartered Simon Property Group is a real estate investment trust (REIT) and the largest owner of U.S. shopping malls. The company closed 2020 with $4.6 billion in revenue, down from $5.7 billion in 2019. Chairman, CEO and President David Simon announced the 2020 earnings by acknowledging, "2020 was a difficult year for all those affected by COVID-19, including our company. We feel confident we have turned the corner, and we expect growth in earnings and cash flow in 2021." One of the bright spots for the company in 2020 was its occupancy rates: 91.3% at year's end, with a base minimum rent per square foot of $55.80 that marked a 2.2% year-over-year uptick. Evercore ISI analyst Samir Khanal justified the upgrade in his rating by noting there was "little downside risk to numbers at this time in light of a scenario where tenant fallout has been less than expected, a trough in occupancy by the end of …
A British company that owns a sports betting and an online casino company is seeking to enter the fast-growing U.S. market
The firm upgraded the mall operator to outperform from in-line on Monday.
Super Group Holding Co, owner of Betway and Spin, is going public with a SPAC deal to bring the global online sports betting and casino company public. The SPAC Deal: Super Group Holding Co is going public with Sports Entertainment Acquisition Corp (NYSE: SEAH ). Betway is an online sports betting company, and Spin is a multi-brand online casino. The SPAC merger values Super Group Holdings at a pre-money equity valuation of $4.75 billion. Shares will trade as SGHC on the NYSE after the merger is complete. Current shareholders of Sports Entertainment Acquisition will own 9.3% of the new company. About Super Group: Super Group is licensed in 23 jurisdictions across Europe, the Americas and Africa. The company says it can scale into new markets and has proprietary marketing and data analytics to improve the customer experience. The company had over $42 billion worth of wagers in the 12-month period ending March 2021. The company says it has over 2.5 million monthly unique active customers.
Super Group, the parent company of online bookmaker Betway, is nearing a deal to go public through a merger with blank-check acquisition firm Sports Entertainment Acquisition Corp (SEAH.N) at a valuation of about $5.1 billion, people familiar with the matter said on Saturday.
While occupancy and renewal spreads could remain under pressure in the near term, Simon Property Group Inc (NYSE: SPG ) appears poised to benefit from retailer investments, pent-up consumer demand, lower bad debt and external growth opportunities, according to Jefferies. The Simon Property Group Analyst: Linda Tsai upgraded the rating for Simon Property Group from Hold to Buy, while raising the price target from $112 to $130. The Simon Property Group Thesis: The pandemic offers the company more growth opportunities than it had in the pre-COVID-19 … Full story available on Benzinga.com
BMO Capital Stick to Their Hold Rating for Simon Property
Morgan Stanley Stick to Their Buy Rating for Simon Property
While the retail REITs segment faces increasing secular challenges, Simon Property Group Inc (NYSE: SPG ) has multiple drivers of earnings growth, according to Morgan Stanley. The Simon Property Group Analyst: Richard Hill upgraded Simon Property Group from Equal-Weight to Overweight, while raising the price target to $125. The Simon Property Group Thesis: The company’s earnings seem to have bottomed out in 2020, with a majority of the earnings decline being driven by rent abatements, Hill said … Full story available on Benzinga.com
Drugstore chains are rushing to add staff to prepare to administer more vaccinations, reports The New York Times. Two stories analyze Simon Property Group’s comments during its recent earnings call. These are among today’s must reads from around the commercial real estate industry.
Trade SPG from the long side….SPG
The Indianapolis-based REIT presented full-year and Q4 earnings during a call with analysts on Monday.
There’s no shortage of brick-and-mortar-based retail executives who were happy to bid 2020 goodbye and turn the page on a new year. Arguably, no one is happier than Simon Property Group CEO David Simon. As one of the more colorful leaders in the retail business, he has been candid — and at times pessimistic — […]
Simon Property Group (NYSE:SPG) posted its quarterly earnings data on Sunday. The real estate investment trust reported $0.86 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.21 by ($1.35), MarketWatch Earnings reports. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.15 billion. […]
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