Macerich Co

During 1Q17, General Growth Properties’ (GGP) occupancy rate (same-store leased percentage) fell to 95.9% from 96.6% in 1Q16.

In 2Q17, GGP (GGP) reported NOI (net operating income) of $551.0 million, which came in higher than the previous year at $554.0 million.

General Growth Properties has a market cap of $22.1 billion, is part of S&P 500 index, and sees allocation in the major REIT-specific ETFs like ICF.

GGP’s estimated price-to-FFO multiple for fiscal 2018 is 14.2x, which is at a premium compared to its peers.

In 2Q17, GGP (GGP) paid $17.5 million in dividends to its shareholders. That was higher than $13.3 million paid a year ago.

GGP maintained a debt-to-equity ratio of 1.55x for 2Q17. That was higher than the industrial mean of 1.07x.

GGP has redeveloped its vacant spaces for non-retail uses such as restaurants, entertainment zones, fitness centers, and grocery stores.

GGP’s (GGP) minimum rent fell by $17.0 million in 2Q17, mainly because of dilution resulting from the sale of an interest in the Fashion Show Mall in Las Vegas n 2016.

GGP’s minimum rent fell 3.9% to $349.2 million, and tenant recoveries fell 4.6% to $161.9 million. Overage rent fell 25.0% to $3.3 million.

GGP (GGP) reported funds from operations (or FFO) of $0.35 per share, which was in line with Wall Street estimates. Adjusted FFO remained flat year-over-year.

Analysts have assigned PSA a mean price target of $217.67, which is 4.9% higher than its current price level.

Public Storage has consistently been able to return capital value as well as shareholder returns in the form of dividends and share buybacks.

Public Storage (PSA) is expected to witness a higher cost of debt in 2Q17, mainly due to the Fed’s rate hikes in 2017.

Public Storage (PSA) is expected to post flat top-line and bottom-line results in 2Q17.

Wall Street expects PSA to report adjusted FFO (funds from operation) of $2.40, compared with $2.54 in 2Q16.

Wall Street analysts expect Public Storage (PSA) to report NOI (net operating income) of $483.7 million for 2Q17.

Wall Street expects Public Storage (PSA) to report revenue of $667.9 million for 2Q17. Its earnings call will be on July 27, 2017.

Analysts expect PSA to report adjusted FFO (funds from operation) of $2.40, compared with $2.54 in 2Q16.

There is wide anticipation in the market that the Federal Reserve could raise interest rates again during its upcoming meeting on June 14, 2017.

Simon Property Group’s current price-to-FFO multiple is ~14.1x.

Over the past eight years, Macerich’s EV-to-EBITDA has ranged between 11.9x–27.2x, with a current EV-to-EBITDA multiple of around 21.8x.

CBL’s (CBL) long-term strategy is to maximize shareholder returns while maintaining prudent risk profile.

Macerich is a self-managed REIT headquartered in Santa Monica, California. The company was founded in New York in 1964.

The malls in GGP’s portfolio receive a smaller percentage of their operating income from anchor tenants than from specialty retailers who lease space.

Headquartered in Indianapolis, Simon Property Group formed in 1993 when the shopping center division of Melvin Simon & Associates became publicly-traded.