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Simon Property, Mall REITs Up on Retail Sales

Other mall owning REITs showing strength in Thursday's session included Developers Diversified (DDR - Get Report), up 2% at $14.86, Glimcher Realty Trust (GRT), higher by 3.3% at $10.18, Tanger Factory Outlet (SKT - Get Report), which rose 1.7% to $28.61, and Equity One (EQY - Get Report), up 1% at $19.55.


S&P Equity Research said it expected June same-store sales -- or sales at stores open at least one year, a closely watched metric in the restaurant industry -- to rise 5.4% from the last year, while the actual gain was 8.1%.

"In addition, our optimism was boosted by the ADP survey of private payrolls showing a gain 157,000 new jobs in June, significantly above the 78,000 new June jobs expected by consensus," McMillan said.

-- Written by Miriam Marcus Reimer in New York.

>To contact the writer of this article, click here: Miriam Reimer.

>To follow the writer on Twitter, go to http://twitter.com/miriamsmarket.

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SYM TRADE IT LAST %CHG
GRT $0.00 0.00%
DDR $16.02 -1.23%
EQY $25.11 3.08%
GGP $26.90 -0.30%
KIM $24.45 -0.24%

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Chart of I:DJI
DOW 17,745.98 -5.41 -0.03%
S&P 500 2,108.63 +0.06 0.00%
NASDAQ 5,128.7850 +17.0520 0.33%

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