This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

5 REITs to Rally on Home Sales (Corrected)

Stocks in this article: SPG TWO ARE DEI HT

5. Simon Property (SPG) is the largest real estate company in the U.S. with a market cap exceeding $36 billion. The company owns and has interests in 392 properties comprising 262 million square feet of gross leasable area in North America, Europe and Asia, including regional malls, Premium Outlets, The Mills, community/lifestyle centers and international properties.

Of the 25 analysts covering the stock, 68% recommend a buy and 28% suggest a hold. Analysts' average 12-month price target for the stock is $133.31, about 8.5% higher than the current price, according to a Bloomberg consensus.

The company reported total revenue of $1.07 billion for 2011 third quarter, up 9.18% from $979 million for the same quarter in the previous year. Net income attributable to common stock holders was $274 million, or 93 cents per diluted share, compared to $230.6 million, or 79 cents, in the prior-year period.

On Nov. 30, the company paid a quarterly dividend of 90 cents per share, an increase of 12.5% from the previous quarter. It will pay a special common stock dividend of 20 cents per share on Dec. 30 to stockholders of record Dec 16.

Simon recently announced that, in partnership with Genting Berhad, it has opened Johor Premium Outlets, its first Premium Outlet Center in Southeast Asia. Simon and Woodmont Outlets and EWB Development have signed a joint venture agreement for the development, construction, leasing and management of St. Louis Premium Outlets, an upscale outlet center in Chesterfield, Missouri. Simon will own 60% of the project.

The company affirms its guidance on 2011 funds from operations of $6.80 to $6.85 per diluted share, with net income between $3.00 and $3.05 per share.

2 of 6

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs