Trouble looms for retail REITs

April 11, 2011 12:24PM

Retail real estate investment trusts will drop up to five cents a share in the first quarter, thanks mostly to retailer bankruptices, according to a Jefferies & Co. analysis cited by Crain’s. Shopping center vacancies are expected to rise to 11.1 percent this year, the highest mark in two decades, and liquidations of retailers like Borders and closings of Harry & David and AnchorBlue are adding to shopping center woes. The safest bets, according to the analysis, are upscale malls like those owned by Simon Property Group and Taubman Centers. [Crain’s]

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