Market Pulse Archives

July 8, 2020, 1:26 p.m. EDT

Mall ETFs fall even as New York eyes some re-openings

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Invesco S&P 500 Equal Weight Real Estate ETF (EWRE)
  • X
    Kimco Realty Corp. (KIM)
  • X
    Simon Property Group Inc. (SPG)

or Cancel Already have a watchlist? Log In

By Andrea Riquier

Exchange-traded funds with exposure to malls slumped Wednesday even after New York Gov. Andrew Cuomo said shopping centers could open starting Friday, with some restrictions. The Invesco S&P 500 Equal Weight Real Estate ETF /zigman2/quotes/210295644/composite EWRE -0.56% , which has 3% of its holdings in Kimco Realty /zigman2/quotes/202836571/composite KIM -0.33% and 2.9% in Simon Property Group /zigman2/quotes/209746667/composite SPG -1.01% - two of the biggest mall operators - was down 0.6% midday. Kimco was one of worst performers in the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.61% , down 2.3%, while Simon shares were down 1.7%. The iShares Cohen & Steers REIT ETF /zigman2/quotes/208006168/composite ICF -0.52% was down 0.4%, despite having nearly 4% of its holdings in Simon. Both ETFs were on track for their worst month since March, although the Cohen & Steers fund was slightly positive for the month of July so far, while the Invesco fund has lost 1.5%. By comparison, the S&P 500 was up 0.2% at midday, and up 1.6% in the month to date.

/zigman2/quotes/210295644/composite
US : U.S.: NYSE Arca
$ 29.08
-0.17 -0.56%
Volume: 990.00
Jan. 19, 2021 10:48a
loading...
/zigman2/quotes/202836571/composite
US : U.S.: NYSE
$ 16.42
-0.06 -0.33%
Volume: 871,680
Jan. 19, 2021 10:54a
P/E Ratio
8.10
Dividend Yield
3.92%
Market Cap
$7.12 billion
Rev. per Employee
$2.27M
loading...
/zigman2/quotes/209746667/composite
US : U.S.: NYSE
$ 92.06
-0.94 -1.01%
Volume: 944,695
Jan. 19, 2021 10:55a
P/E Ratio
19.34
Dividend Yield
5.68%
Market Cap
$34.53 billion
Rev. per Employee
$1.26M
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,791.14
+22.89 +0.61%
Volume: 701.71M
Jan. 19, 2021 10:55a
loading...
/zigman2/quotes/208006168/composite
US : U.S.: Cboe BZX
$ 53.11
-0.28 -0.52%
Volume: 32,125
Jan. 19, 2021 10:52a
loading...

This Story has 0 Comments
Be the first to comment
More News In
Markets

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.