Even Quality Names Have Room to Fall; Placing GGP Under Review Amid Retail Headwinds
The headwinds facing the retail industry have been hammering regional mall stocks for the better part of 15 months now, and we still think there’s room to fall. GGP remains one of the better-quality malls in the industry, with tenant sales per square foot (NOI-weighted) of $708, though this figure has barely moved from the $705 per square foot reported in the first quarter. The overall uncertainty lies in the outlook toward pricing power going forward. While we do think occupancy will remain hig...GGP is a self-administered and self-managed real estate investment trust. The company, through its subsidiaries and affiliates, is an owner and operator of retail properties with a property portfolio primarily comprised of Class A retail real estate. As of Dec 31 2017, the company owned, either entirely or with joint venture partners, 125 retail properties located throughout the U.S. The company provides management and other services to substantially all of its properties, including properties which the company owns through joint venture arrangements. Substantially all of the company's business is conducted through GGP Operating Partnership, LP, GGP Nimbus, LP, and GGP Limited Partnership.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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