For Immediate Release

Chicago, IL – October 23, 2009 – Zacks.com announces the latest Industry Outlook. Today, Zacks Equity Research discusses the REITs sector, including American Capital Agency Corp. (AGNC), Fannie Mae (FNM), Freddie Mac (FRE), Vornado Realty Trust (VNO) and Simon Property Group Inc. (SPG).

Here is the latest on the REITs sector:

The credit freeze will have a positive effect on commercial real estate down the road; new office, apartment and retail construction has slowed considerably, which will benefit owners in a couple of years. Many companies that we cover have stopped all-new construction.

In this environment, we like well-capitalized companies that have adequate liquidity and manageable near-term debt maturities. Currently, we are bullish on American Capital Agency Corp. (AGNC), a mortgage REIT that invests exclusively in agency securities for which the principal and interest

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Amid positive signals emanating from the uptick in housing prices and an improving outlook for consumer spending, the housing sector is gradually stabilizing. Both new and existing home sales have increased during the last four consecutive months and are now 32% and 17% above their recent lows, respectively. Single-family housing starts have also risen 37% from their low point, and inventories of homes-for-sale have fallen sharply.

Equity REITs rebounded nicely in the third quarter, recording total returns of 33% (total return FTSE NAREIT Index) vs. a 15% gain each for the S&P and the Dow. The strong third quarter returns marked the second consecutive record-setting performance of equity REITs after a dismal performance in the first quarter of 2009.

In what has been a volatile year, equity REITs gained approximately 29% (total return FTSE NAREIT Index) in the second quarter after falling 32% in the first quarter. So far in October, equity

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Amid positive signals emanating from the uptick in housing prices and an improving outlook for consumer spending, the housing sector is gradually stabilizing. Both new and existing home sales have increased during the last four consecutive months and are now 32% and 17% above their recent lows, respectively. Single-family housing starts have also risen 37% from their low point, and inventories of homes-for-sale have fallen sharply.

Equity REITs rebounded nicely in the third quarter, recording total returns of 33% (total return FTSE NAREIT Index) vs. a 15% gain each for the S&P and the Dow. The strong third quarter returns marked the second consecutive record-setting performance of equity REITs after a dismal performance in the first quarter of 2009.

In what has been a volatile year, equity REITs gained approximately 29% (total return FTSE NAREIT Index) in the second quarter after falling 32% in the first quarter. So far in October, equity

...

Amid positive signals emanating from the uptick in housing prices and an improving outlook for consumer spending, the housing sector is gradually stabilizing. Both new and existing home sales have increased during the last four consecutive months and are now 32% and 17% above their recent lows, respectively. Single-family housing starts have also risen 37% from their low point, and inventories of homes-for-sale have fallen sharply. Equity REITs rebounded nicely in the third quarter, recording total returns of 33% (total return FTSE NAREIT Index) vs. a 15% gain each for the S&P and the Dow. The strong third quarter returns marked the second consecutive record-setting performance of equity REITs after a dismal performance in the first quarter of 2009. In what has been a volatile year, equity REITs gained approximately 29% (total return FTSE NAREIT Index) in the second quarter after falling 32% in the first quarter. ...

Simon Property Group Inc. (SPG), the largest publicly traded retail real estate company in North America, recently announced the death of its pioneer and co-founder Melvin Simon after a short illness. With his demise, the company lost an able leader who had remarkable deal-making skills that fostered strong ties with lenders as well as owners of department store chains – a critical element during recession.     Melvin Simon along with his brother started the real estate company in 1960 under the name – Melvin Simon & Associates. Later this company became Simon Property Group Inc. having embraced the real estate investment trust (REIT) structure. The company’s initial offering in 1993 was the largest for a REIT.   Besides being the founder of Simon, Melvin Simon was also involved in the sports and movie businesses. He was the co-owner of Indiana Pacers professional basketball team in the National ...

Simon Property Group, Inc. (SPG), the largest publicly traded retail real estate company in North America, has recently opened a premium outlet in Japan. The outlet has been developed by a JV called Chelsea Japan Co. Ltd., in which Simon Property has 40% stake. The remaining 60% of the JV is owned by Mitsubishi Estate Co. Ltd., the second largest real estate developer in Japan.

Currently only Phase I of the outlet, known as Ami Premium Outlet, spanning 225,000 square feet of gross leasable area, has been opened to the general public. Ami Premium Outlet is the eighth outlet of the JV in Japan, the others being Gotemba Premium Outlets and Sano Premium Outlets (both serving Tokyo), Rinku Premium Outlets (Osaka), Kobe-Sanda Premium Outlets (Kobe-Osaka), Sendai-Izumi Premium Outlets (Sendai), Toki Premium Outlets (Nagoya) and Tosu Premium Outlets (Fukuoka).

Ami Premium Outlet is strategically located in the close proximity of Ami-Higashi interchange

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Among the battered real estate industry there are a few REITs that are situated to take advantage of the carnage and profit in the long run.  Simon Property Group [SPG: 33.25, 0.00 (0.00%)] is going to be poised to snatch up properties at rock bottom prices from sellers who simply want to pay down their enormous debt loads.

With a market cap of $7.59 billion, SPG is the largest public real estate company in the United States.  As of December 31, 2008, SPG owned or held an interest in 324 income-producing properties in the U.S.  It owns, operates and develops its portfolio of properties with an emphasis on high quality retail real estate. SPG operates from five retail platforms: Regional malls, Premium Outlet Centers, The Mills, community/lifestyle centers, and international properties.  As of December 31, 2008, the breakdown of percentage of owned property

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Indiana is perhaps best known by its world famous Indianapolis 500 motorsports race, but there is indeed much more to this state. It is also a fast growing and very diverse state. The following are interesting facts about Indiana:1. Livestock and poultry occupations employ over 42,000 in Indiana.2. There are three biodiesel plants in Indiana, and one under construction.3. There are 12 ethanol plants operating within the state and together they produce over 1 billion gallons of ethanol.4. A third of Indiana’s soybean production is exported.5. Indiana’s tourism industry contributes almost $7 billion to the economy.6. Indiana’s top manufacturing industries are: transportation equipment, chemicals, and primary metals.7. The manufacturing industry employs approximately 640,000 workers in the state.8. Indiana’s coal industry provides the state with over 2,000 jobs.9. International manufacturing firms with operations in Indiana employ ...