Major Retail Landlords Had A Decent Q1 But Not The Runaway Success Investors Hoped For

As the vaccine rollout accelerated across the U.S. in the first quarter of 2021, consumers began heading back to shopping malls in greater numbers. For mall operators, that has produced first-quarter earnings results that, for the most part, have met or slightly exceeded financial expectations.
But there has also been disappointment. Operators are continuing to struggle with occupancy rates, dampening hopes of a speedy recovery to pre-pandemic levels.
Earlier this week, Simon Property Group┬áreported an overall tenant occupancy rate in Q1 of 90.8%, down by 50 basis points from the prior quarter, and lower than the 94% occupancy reported during the same…

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