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Opinion on  General Growth Properties Inc (GGP)     Sector: Services  >  Industry: Real Estate Operations
Retailer bankruptcies and less consumer spending to weigh on mall REIT

Aug 23, 2008 01:03 AM GMT
Return Risk
-0.50% LOW
Analyst

GGP is already down pretty substantially.  However, with more retailers going belly-up and the consumer spendng less, the near-term future looks dim.  GGP's balance sheet is littered with long-term debt, and not much cash on hand...not a good position to be in during a long-term downturn (IMHO, mall reits will be in pain until the median home price in the US has a decent trend up).


GGP:  This call was made on 08/23/08 @ $24.79
Rating:   Negative   $24.79 (08/23/08)
Closed:   09/18/2008 @ $20.93 (+15.57% in 26 days)


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