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WPG

Washington Prime

$6.49

-0.015 (-0.23%)

, SHLD

Sears

$0.35

-0.1354 (-27.89%)

07:15
10/12/18
10/12
07:15
10/12/18
07:15

Washington Prime provides department store update

Washington Prime (WPG) continues to proactively manage its exposure to department stores situated within its tier one and open air assets. This has been accomplished by the continued redevelopment of WPG owned department store space as well as the acquisition of space owned by retailers, including Sears (SHLD). These capital allocation decisions continue to further the company's dominant secondary town center mandate via differentiated adaptive reuse where sales volume increases up to threefold. Total traditional department store exposure has decreased by nearly 50% since 2015 when factoring all announced department store closings, additional Sears locations in the tier one and open air portfolios identified for future redevelopment, and noncore assets. Sears exposure has declined by 78%, or 47 locations, since 2015 when factoring all announced Sears store closings, additional Sears locations in the tier one and open air portfolios identified for future redevelopment and Noncore assets. Washington Prime Group owns all save for three of the aforementioned 28 spaces which allows for control to unlock future redevelopment opportunities. During 2018, the Company proactively gained control of eight Sears locations at tier one assets. Revenue derived from Sears as of September 30, equates to 0.8% of total annualized minimum rent for the total portfolio and the company has allocated approximately $300M-$350M of capital necessary to retrofit the aforementioned 28 spaces over a three to five year period. These costs are included in the company's previously announced anticipated redevelopment spend of approximately $100M-$125M per annum.

WPG

Washington Prime

$6.49

-0.015 (-0.23%)

SHLD

Sears

$0.35

-0.1354 (-27.89%)

WPG Washington Prime
$6.49

-0.015 (-0.23%)

07/25/18
07/25/18
NO CHANGE

Washington Prime reports Q2 adjusted FFO 37c, consensus 37c
Reports Q2 revenue $178.73M, consensus $182.11M. Combined Tier One and Open Air comparable NOI growth increased 1.1% during Q2.
SHLD Sears
$0.35

-0.1354 (-27.89%)

09/24/18
WELS
09/24/18
NO CHANGE
WELS
Outperform
Newell weakness on potential Sears bankruptcy fears overdone, says Wells Fargo
Wells Fargo analyst Bonnie Herzog believes today's weakness in shares of Newell Brands (NWL) is likely due to concerns about a potential bankruptcy of Sears (SHLD) as well as ongoing China tariff negotiations. However, she views the move as a "complete overreaction," arguing that Newell's exposure to Sears is fairly limited. Herzog, who sees today's weakness as overblown and would be a buyer amid the weakness, reiterates her Outperform rating on Newell shares, which are down 7% to $20.28 in late morning trading.
05/09/18
JEFF
05/09/18
NO CHANGE
Target $60
JEFF
Hold
Sears-Amazon tire partnership not a negative for Monro, says Jefferies
Jefferies analyst Bret Jordan kept his Hold rating and $60 price target on Monro (MNRO) after its stock price fell over 7.5% today to $52.70, saying Sears (SHLD) partnership with Amazon (AMZN) on tire installation and services is a not "transformational negative". Jordan notes that the greater transparency and price matching is not new, while Monro is "already an installer for other online sellers such as Tirerack and ATD's tirebuyer.com". The analyst adds that the agreement is not exclusive, leaving the "door open" for Monro to enter into a similar deal.
04/19/18
MSCO
04/19/18
NO CHANGE
Target $1550
MSCO
Overweight
Amazon gaining apparel market share in U.S., says Morgan Stanley
Morgan Stanley analyst Brian Nowak said his analysis shows that Amazon (AMZN) gained 1.5% of U.S. apparel market share in 2017, largely at the expense of department stores. He estimates Amazon is the second largest U.S. apparel retailer, trailing only Walmart (WMT), and expects the e-commerce giant to take the number one spot in terms of U.S. apparel market share in 2018. Cumulatively, Nowak estimates Sears (SHLD), Macy's (M) and J.C. Penney (JCP) lost 0.8% share in 2017, with shareholdings remaining roughly flat for Target (TGT) and Kohl's (KSS). He maintains an Overweight rating and $1,550 price target on Amazon shares.
02/05/18
JEFF
02/05/18
NO CHANGE
Target $100
JEFF
Buy
Bon-Ton Stores bankruptcy benefits Kohl's, says Jefferies
Jefferies analyst Randal Konik notes that Bon-Ton Stores filed bankruptcy protection and provided the locations of the about 50 units slated for closure. The analyst now estimates near-term closures from Macy's (M), Sears (SHLD), Kmart, and Bon-Ton (BONT) should add about 18c to Kohl's (KSS) EPS and a 1.5% comp lift. Moreover, Konik believes the materialization of Bon-Ton's closures could be a "cherry on top" to accelerating fundamentals at Kohl's this year. He reiterates a Buy rating and $100 price target on Kohl's shares.

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VZ

Verizon

$56.74

1.78 (3.24%)

10:41
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BAC

Bank of America

$26.40

-0.96 (-3.51%)

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GLT

Glatfelter

$18.20

-0.295 (-1.60%)

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RH

RH

$110.05

0.95 (0.87%)

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Altria Group

$60.96

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Gritstone Oncology

$16.10

0.93 (6.13%)

CZR

Caesars

$8.98

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TEAM

Atlassian

$70.16

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EBAY

eBay

$27.72

-0.76 (-2.67%)

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$27.72

-0.76 (-2.67%)

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Dish

$31.99

-2.67 (-7.70%)

INN

Summit Hotel Properties

$11.12

-0.74 (-6.24%)

STAY

Extended Stay America

$16.28

-1.2 (-6.87%)

LBRT

Liberty Oilfield Services

$16.14

-2.18 (-11.90%)

MLCO

Melco Resorts & Entertainment

$16.91

-0.83 (-4.68%)

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VIA

Viacom

$36.01

-0.6 (-1.64%)

, VIAB

Viacom

$32.66

-0.34 (-1.03%)

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VIA

Viacom

$36.01

-0.6 (-1.64%)

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$32.66

-0.34 (-1.03%)

SNPS

Synopsys

$88.80

-0.07 (-0.08%)

CDNS

Cadence Design

$44.34

3.72 (9.16%)

PII

Polaris Industries

$86.99

-5.63 (-6.08%)

AMD

AMD

$24.35

-0.69 (-2.76%)

NXPI

NXP Semiconductors

$74.97

-1.5 (-1.96%)

CMG

Chipotle

$429.89

-1.36 (-0.32%)

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MGM

MGM Resorts

$24.84

-1.27 (-4.86%)

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Options
Call spread in MGM as shares fall to 52-week lows »

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TSLA

Tesla

$275.35

14.32 (5.49%)

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TOT

Total

$58.38

-1.47 (-2.46%)

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10:25
10/23/18
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Oil Action: NYMEX crude »

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Conference/Events
The FCC to hold a meeting »

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JBLU

JetBlue

$16.59

0.02 (0.12%)

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ARNC

Arconic

$20.73

-0.72 (-3.36%)

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JBLU

JetBlue

$16.56

-0.01 (-0.06%)

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  • 23

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

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$NYE

NYSE Market Internals

$0.00

(0.00%)

10:16
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NYSE market internals summary »

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CSCO

Cisco

$44.84

-0.91 (-1.99%)

10:15
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Options
Cisco put volume heavy and directionally bearish »

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CLF

Cleveland-Cliffs

$10.96

-0.37 (-3.27%)

10:08
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WMT

Walmart

$96.98

-0.16 (-0.16%)

, SPWR

SunPower

$6.64

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WMT

Walmart

$96.98

-0.16 (-0.16%)

SPWR

SunPower

$6.64

-0.1 (-1.48%)

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REV

Revlon

$24.60

-0.09 (-0.36%)

10:06
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Periodicals
Mox Reports repeats long call on Revlon »

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FTNT

Fortinet

$81.75

-1.22 (-1.47%)

10:05
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Hot Stocks
Fortinet paid $18M in initial consideration for ZoneFox »

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