GGP’s (GGP) debt-to-equity was 1.55x for 2Q17, which was higher than the industrial mean of 1.07x. As of 2Q17, GGP had $2.0 billion of liquidity.
Simon Property Group (SPG) had 25 redevelopment expansion projects under construction as of 2Q17.
Simon Property reported a 5.0% rise in NOI (net operating income) during the quarter backed by an 80.6% higher NOI for US malls and premium outlets.
When we consider the top line performance of commercial REITs, we find that they have performed decently during the second quarter.
Amid the loud cries that US malls are dying, the 2Q17 performances of US commercial REITs show the fallacy of the idea.
US-listed ETFs saw net inflows worth $6.90 billion during the week. In the next few weeks, inflows will likely surpass last year’s total of $287.5 billion.
Financials reached the highest level since December 2007 in anticipation of higher interest rates and the hope of early deregulation of the banking sector.
The OCC (Office of the Comptroller of the Currency) will start the process of amending the Volcker Rule this week.
Banking stocks posted moderate gains this week as the Fed left interest rates unchanged. The S&P Financial Sector Index rose 0.5%.
Weakness in banking stocks continued last week with more banks posting mixed results. The S&P Financial Sector Index fell 0.3%.
Although banks’ earnings were better than expected, banking stocks fell due to weak trading revenue and disappointing forecasts.
Last week, financials got a boost after major banks cleared the latest round of the Fed’s stress tests. Financial stocks rose 1.5% last week.
On July 5, 2017, the Utilities Select Sector SPDR ETF was offering a dividend yield of 4.1%, while the SPDR S&P 500 (SPX-INDEX) (SPY) was yielding ~1.9%.
Schneider National (SNDR) topped the list with a stock price gain of 6.5%. It was the top gainer in the logistics and air travel sector.
For the week of June 26–30, 2017, General Motors (GM) was the top performer among automobile manufacturers. Its stock rose 2.1% during the past week.
Major banking stocks rose after the Fed approved huge payout plans. Wells Fargo (WFC) rose 2.7% and Citigroup (C) rose 2.8%.
During the week ending June 23, 2017, logistics provider C.H. Robinson Worldwide (CHRW) saw the biggest loss in the logistics and air travel sector.
US stocks ended the week with a marginal gain. Weak financials and consumer staples shares eclipsed a rally in the healthcare and biotechnology sectors.
On June 12, 2017, the White House issued recommendations to relax banking regulations due to a significant improvement in the financial system and renewed economic growth.
Of the 24 analysts following Panera, none are recommending a “sell,” while 12.5% are recommending a “buy,” and 87.5% are recommending a “hold.”