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Is GGP Hurting Other Mall REITs?

Today was just brutal for mall REITs. Many had been trading at or near 52-week lows already. But you could say that about a lot of companies in many sectors. And, for the most part, declines at mall REITs have been relatively in-line with the broader market. Today was a bit different, however. General Growth ended the day down 41.94 percent at $4.50 per share. The Dow was down 5 percent. Many other mall REITs fell by 10 percent or more.

Here's a look at the bloodbath.

  • Taubman Centers, $35.70 -10.14 percent
  • Simon Property Group, $73.01, -10.23 percent
  • Macerich Co., $41.52, -11.23 percent
  • PREIT, $11.22, -19.16 percent
  • Glimcher Realty Trust, $6.19, -23.99 percent
  • CBL & Associates Properties, $9.02, -35.98 percent

In contrast, other retail REITs were down today, but not by nearly as large margins.

  • Saul Centers, $42.70, -0.93 percent
  • Kite Realty Group, $9.63, -2.73 percent
  • Agree Realty Corp., $23.87, -3.09 percent
  • Equity One, $17.90 -3.87 percent
  • Acadia Realty Trust, $22.04 -3.97 percent
  • Weingarten Realty Investors, $26.98, -5.40 percent
  • Regency Centers, $49.94, -6.37 percent
  • Federal Realty Trust, $66.32, -6.37 percent
  • Cedar Shopping Centers, $11.04, -6.91 percent
  • Inland Realty Corp., $12.25, -6.99 percent
  • Urstadt Biddle, $16.40, -8.02 percent
  • Kimco Realty Corp., $27.67, -8.71 percent
  • Ramco-Gersenson Properties Trust, $17.88, -11.00 percent
  • Developers Diversified Realty, $22.26, -12.74 percent
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