Simon Property Group the nation s biggest mall owner said in February that its fourth-quarter revenue dropped by 24% on a year-over-year basis to $1.1 billion.
However, some analysts think Simon with its portfolio of A-rated malls and a healthy balance sheet will benefit as distressed malls operated by its rivals close their doors. The company is also expected to see gains from new additions like hotels and luxury residences. Unfortunately there are a lot of centers that don t fit that high profile and that have lost their competitive edge, said Piper Sandler analyst Alexander Goldfarb. The thing about Simon is they ve been really focused on maintaining it, and that s both been through a combination of culling the lower productive centers as well as making sure that they keep investing in their top centers.
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