Far From Dead, High-Quality Malls Will Remain Critical to Retail Strategies
We are reinitiating coverage of the mall real estate investment trusts as the result of an analyst change. For Simon Property Group and Taubman Centers, we assign fair value estimates per share of $213 and $80, respectively, and narrow moat ratings.Retailers ultimately want to be in distribution channels where their customers shop and where they have the best chance of financial success. Despite pressure from e-commerce’s effect on a changing retail landscape, we think physical brick-and-morta...
Taubman Centers operates as a self-administered and self-managed real estate investment trust. The Taubman Realty Group Limited Partnership is a majority-owned partnership subsidiary of the company that owns direct or indirect interests in all of the company's real estate properties. The company owns, manages, leases, acquires, disposes of, develops, and expands shopping centers and interests therein. The company's owned portfolio of operating centers consists of urban and suburban shopping centers operating in the United States, Puerto Rico, South Korea, and China.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
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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