The Indianapolis-based mall developer faces accusations that it used its massive influence to pressure retailers to sign leases at its mall in Mishawaka instead of in a competitor’s property.
Shares in Taubman Centers Inc. surged Wednesday, one day after Jonathan Litt, an activist investor known for targeting real estate companies, pushed for the mall owner to cut costs or consider a sale of the company.
A partnership involving a local firm has acquired the eight-building complex from Duke Realty Corp., and is planning an amenity center for dining, fitness, conferences and workplace collaboration.
Kite Realty Group Trust lost money in the second quarter but beat analyst expectations when it came to revenue and funds from operations.
Duke Realty Corp. on Wednesday reported a smaller profit on slightly more revenue in the second quarter, along with key performance results that met analyst expectations.
Retail real estate firm WP Glimcher denied last week that it was in talks to merge with Indianapolis-bases Kite Realty Group Trust. Now its CEO is gone, and directors are reevaluating its portfolio.
Indianapolis-based Simon Property Group Inc. and Warsaw’s Zimmer Biomet Holdings vaulted back among the top 500 this year, while local oil refiner Calumet Specialty Products Partners plummeted.
Shares in WP Glimcher Inc. fell nearly 7 percent Monday after the Columbus-based retail landlord refuted reports it was involved in merger negotiations with Indianapolis-based Kite Realty Group Trust.
Real estate investment trusts like Indianapolis-based Simon Property Group are preparing for a surge of attention as they get their own grouping in major U.S. stock indexes. Their first task: educating investors who have no idea how to evaluate the industry.
Unlike some of its peers, Indianapolis-based Simon Property Group continues to attract star tenants such as Nike and Apple, command higher rents, and get attractive financing terms.
Indianapolis-based Kite Realty Group Trust on Thursday reported funds from operations and revenue that beat the predictions of analysts.
Duke Realty Corp. on Wednesday reported a smaller profit on less revenue in the first quarter, but its results still met or exceeded analyst expectations.
The nation’s largest mall owner said funds from operations, a key measure of profitability, increased 15.4 percent in the first quarter while tenant rents grew.
Despite reporting lower profit in the fourth quarter, the nation’s largest mall owner still posted strong results for the full year.
The Indianapolis-based real estate company said it had funds from operations of $43.9 million in the period, slightly beating Wall Street expectations.
A strong third quarter prompted Simon to boost its earnings forecast and raise its quarterly dividend to $1.60 per share, a 23.1 percent year-over-year increase.