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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: E_K_S who wrote (59286)	3/26/2017 4:05:50 PM
From: Spekulatius	Respond to of 78476

Yes, I think there is value in these mall properties in urban areas - even if retail fails, they can be repurposed. i have seen some malls changing stripes here in more secondary markets. One mall become a food/entertainment cluster with some retail attached. They added a huge food court, some spots for a brewpub and a large common area. This may not become a class A mall, due to being in a secondary market, but I think this works as well, since this is the largest property within a few miles, with a decent captive are. I don't think that Kimco is a compelling value proposition, at least based on the numbers that I am seeing. They do have some nice urban properties, but so have others. Based on their balance sheet and NOI numbers, the stock is higher valued than most peers and I don't see a convincing reason why that is justified.