Mall owners, the best-performing U.S. property stocks for four years, have tumbled to the worst as sluggish retail sales and limited opportunities to expand drive investors to look elsewhere for earnings growth.
U.S. real estate investment trusts are trading at the biggest discount to the underlying value of their properties in more than two years, signaling it may be a good time for investors to buy shares in the companies.
Capital Shopping Centres Group Plc , the U.K.’s biggest shopping mall owner, rejected an offer from Simon Property Group Inc. valuing the company at 2.9 billion pounds ($4.6 billion), describing it as inadequate.
Brookfield Asset Management Inc. is keeping a tight grip on its stake in General Growth Properties Inc. in a bet the second-largest U.S. mall owner is better off as an independent company that will jump in value.
An arbitration panel ruling on a dispute between CommonWealth REIT and investors seeking to oust its board found that the shareholder effort to remove trustees was invalid, while also determining a new vote can proceed.