MKM Expects Strong Movement In The REITs In The Weeks Ahead (IYR, SPG, GGP)
MKM Partners says it expects strong, positive long-term momentum for the real estate investment trust (REIT) sector to continue, and recommends iShares Dow Jones US Real Estate ETF (NYSE: IYR) as a particular idea for investors and traders to consider.
MKM mentions Kimco Realty (NYSE: KIM), Simon Property Group (NYSE: SPG) positively. In the research note, MKM says Kimco is likely going to pull back, before breaking out sharply to the upside, based on a technical basis.
MKM notes strong, positive long-term momentum in Simon Property Group.
Another name for traders and investors to consider in this group is General Growth Properties (NYSE: GGP), which recently came out of bankruptcy. GGP is the country's second largest REIT behind Simon Property. Simon Property tried to acquire GGP earlier last year for $8 per share, and was subsequently rebuffed as the offer was deemed way too low.
Shares of all three companies are up on the day.
Disclosure: long GGP
