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RPAI

Retail Properties of America

$14.08

-0.01 (-0.07%)

, SHAK

Shake Shack

$59.90

-1.85 (-3.00%)

17:33
11/19/19
11/19
17:33
11/19/19
17:33

Retail Properties of America says Shake Shack is 1st signed lease at Circle East

Retail Properties of America (RPAI) announced that Shake Shack (SHAK) has signed a new lease at its Circle East redevelopment project located in Towson, MD. Shake Shack will be located in a 3,200 square foot space on Circle East's prominent corner, on Joppa Road at the circle interchange in downtown Towson. "We are excited to add the first Shake Shack to the Baltimore suburbs and believe that the addition of an industry-leading quick service restaurant will be in demand by a market that is comprised of young, affluent and educated shoppers who seek the 'live, work, play' environment that Circle East will deliver," stated Greg Goldberg, vice president, leasing director - eastern division. "Circle East is poised to become a walkable, active environment with a sought-after lineup of brands, and we continue to attract both national and local retailers, services, and restaurants that are unique to the market and will deliver a true 'main street' to Towson."

RPAI

Retail Properties of America

$14.08

-0.01 (-0.07%)

SHAK

Shake Shack

$59.90

-1.85 (-3.00%)

  • 19

    Feb

RPAI Retail Properties of America
$14.08

-0.01 (-0.07%)

08/15/19
COMP
08/15/19
INITIATION
Target $12
COMP
Neutral
Retail Properties of America initiated with a Neutral at Compass Point
Compass Point analyst Floris van Dijkum started coverage of the Shopping Center REITs space, initiating Retail Properties of America with a Neutral rating and $12 price target. More broadly on the space, she said Shopping Center REITs have "navigated the retail bankruptcy carnage" and are expected to return to earnings growth in 2020, though much of the "less bad than feared" news is already priced in. On Retail Properties, she sees its relative valuation as fair at current levels.
SHAK Shake Shack
$59.90

-1.85 (-3.00%)

11/05/19
WEDB
11/05/19
NO CHANGE
Target $75
WEDB
Neutral
Shake Shack price target lowered to $75 from $84 at Wedbush
Wedbush analyst Nick Setyan lowered his price target for Shake Shack (SHAK) to $75 from $84 and maintained a Neutral rating, saying Q3 SSS growth and margins disappointed. In a research note to investors, Setyan says that given the limited visibility into the impact of dropping non-GrubHub (GRUB) delivery partners, somewhat offset by a ramp in deliveries with GrubHub, he feels it is "prudent" to expect negative SSS growth beyond just Q4. Additionally, he believes cannibalization and new comp base units will remain ongoing headwinds to medium- to long-term SSS growth.
11/05/19
STFL
11/05/19
NO CHANGE
Target $60
STFL
Hold
Shake Shack price target lowered to $60 from $80 at Stifel
Stifel analyst Chris O'Cull cut his price target for Shake Shack shares to $60 from $80 after the company's Q3 report missed investors' "high expectations." He believes investors expected same-Shack sales to be up at least 3.5%, but they grew just 2%, and the company lowered its 2019 same-Shack growth guidance with an implication that Q4 same-Shack sales could be down roughly 3%, O'Cull noted. It seems that sales disruption from removing certain third-party delivery providers has been greater than initially anticipated, added O'Cull, who revised his sales estimate primarily to reflect that disruption, temporary remodeling closures and fewer new store operating weeks than he expected. He keeps a Hold rating on Shake Shack shares, which are down $14.86, or 17.6%, to $69.50 in pre-market trading.
11/18/19
BARD
11/18/19
INITIATION
Target $66
BARD
Neutral
Shake Shack initiated with a Neutral at Baird
Baird analyst David Tarantino initiated coverage of Shake Shack with a Neutral rating and $66 price target.
11/19/19
11/19/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Shake Shack (SHAK) initiated with a Neutral at Baird. 2. L3Harris Technologies (LHX) initiated with an Overweight at Alembic Global. 3. Phathom Pharmaceuticals (PHAT) was initiated with a Buy at Jefferies and Needham and a Neutral at Goldman Sachs. 4. Cabaletta Bio (CABA) initiated with an Outperform at Cowen and Evercore ISI as well as an Overweight at Morgan Stanley. 5. Agenus (AGEN) resumed with a Buy at B. Riley FBR. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

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