Equity One, Inc. (NYSE:EQY)

CAPS Rating: 2 out of 5

The Company operates as a self-managed real estate investment trust that principally acquires, renovates, develops and manages neighborhood and community shopping centers anchored by supermarkets, drug stores or discount retail store chains.

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Member Avatar NWTOGME (< 20) Submitted: 12/16/2010 10:11:23 PM : Outperform Start Price: $15.55 EQY Score: -3.37

insider buying

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Member Avatar Paramnesia1930 (27.99) Submitted: 3/22/2010 10:40:31 PM : Underperform Start Price: $15.75 EQY Score: +20.36

Depressed job market, debt laden consumers, rising tax burdens, corporate real estate, credit card defaults, and especially housing starts. The latter typically leads normal recoveries.

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Member Avatar Mustang01APR00 (< 20) Submitted: 2/15/2009 4:43:36 PM : Outperform Start Price: $9.52 EQY Score: -3.91

The key to this REIT is the type of properties it manages...supermarkets, drug stores or discount retail store chains. Grocery stores, pharmaceuticals and discount retail chains are all keeping the books balanced. The dramatic drop in price was simply an affect of market evacuation. EQY has stabilized and it will soon begin a characteristic upward move towards $17.00. It will reach this benchmark by June...if not by it's next dividend date.

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Member Avatar Unboyageur (< 20) Submitted: 10/15/2008 10:30:19 AM : Outperform Start Price: $12.88 EQY Score: -27.57

It is REIT investment the company a record of continune dividends payment and if you are a buy and hold with dividend reinbestment. Within five years you will ahead the game.

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Member Avatar lllchicalll (79.99) Submitted: 7/2/2008 11:27:39 PM : Outperform Start Price: $14.47 EQY Score: +2.13

stats geek

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Member Avatar wuapinmon (55.76) Submitted: 1/30/2008 5:31:35 PM : Underperform Start Price: $15.92 EQY Score: +6.80

Even with Chaim Katzman's continued purchases of this REIT's stock, I don't see how they'll possibly be able to maintain occupancy rates at some of their properties. Also, I view the recent decision to divest themselves of "non-core" properties as a mistake.

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Member Avatar godsmacks1 (39.07) Submitted: 12/27/2007 9:49:48 PM : Underperform Start Price: $16.58 EQY Score: -3.25

commercial real estate

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Member Avatar NetscribeREIT (21.25) Submitted: 2/7/2007 8:11:48 AM : Underperform Start Price: $18.97 EQY Score: +20.99

Equity One (EQY) operates as a self-managed REIT (real estate investment trust), which develops and manages community and neighborhood shopping centers located in the southern and northeastern United States. Around 80% of company’s portfolio is situated in three states, Florida at 59%, Georgia at 15% and Massachusetts at 5%. With about 80% of its operating income anchored by supermarkets, EQY boasts of 129 supermarket properties spread across in these three states.

The US shopping-center industry showed solid growth with lenders funded deals at record prices as retailers looked to expand, while new construction remains a constraint. According to McGraw-Hill Construction, new construction slowed by 6% YoY for the first 10 months of 2006. Although, the construction of community shopping center increased 32% for the same period, neighborhood shopping centers (supermarkets) witnessed sharp slowdown and grew only 0.2%, as compared to gains of 12% in 2005 and 11.2% in 2004 respectively.

Looking forward, the shopping center industry will register moderate growth due to softened housing market that led decrease in home-equity loans, fuelled with rising gas prices causing concerns on overall consumers spending.

EQY rent income decline by 2.1% to $131.3 million and operating income by 13.8% to $75.9 million primarily due to increase in expenses associated with redevelopment activities, same store operating expenses and general and administrative for the first nine months of 2006. The company will require additional capital of $22.8 million for development and redevelopment projects pipeline, totaling its planned investment of $122.2 million of asset value, but lacks any short-term benefit, with results going to materialize not before 2008.

Equity One charges average rent of $8.0 to Publix, its largest supermarket tenant for 53 stores in the high-end market of Florida. But comparing the above rent with the average market rates, there tends to be huge difference. With limited growth profile due to redevelopment pipeline, lowest average rent charged to largest customer and recent management transition, EQY’s near term growth outlook remains muted.

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