MKM Expects Strong Movement In The REITs In The Weeks Ahead (IYR, SPG, GGP)

MKM Partners says it expects strong, positive long-term momentum for the real estate investment trust (REIT) sector to continue, and recommends iShares Dow Jones US Real Estate ETF IYR as a particular idea for investors and traders to consider. MKM mentions Kimco Realty KIM, Simon Property Group SPG positively. In the research note, MKM says Kimco is likely going to pull back, before breaking out sharply to the upside, based on a technical basis. MKM notes strong, positive long-term momentum in Simon Property Group. Another name for traders and investors to consider in this group is General Growth Properties GGP, which recently came out of bankruptcy. GGP is the country's second largest REIT behind Simon Property. Simon Property tried to acquire GGP earlier last year for $8 per share, and was subsequently rebuffed as the offer was deemed way too low. Shares of all three companies are up on the day. Disclosure: long GGP