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Yahoo
14 minutes ago
- Yahoo
Citi Maintains Neutral Rating on Simon Property Group (SPG)
Simon Property Group, Inc. (NYSE:SPG) is one of the most undervalued stocks. On June 17, Citi trimmed its price target on SPG from $185 to $170 while reiterating a Neutral rating on the stock. The company adjusted its 2025 funds from operations (FFO) estimate downward to $12.21 from the previous $12.52, adding the impact of Q1 results that included one-time expenses and investment losses of $0.28 per share. Similarly, Citi revised its 2025 core FFO forecast to $12.49, a slight decrease from $12.52, mainly driven by more conservative projections for net operating income. A rooftop view of a bustling downtown area, emphasizing the company's investments in the real estate sector. The updated price target implies a valuation multiple of approximately 14x the expected 2025 core FFO, down from the earlier multiple of around 15x. Citi attributed this multiple compression to increased uncertainty regarding potential tariff impacts and the overall creditworthiness of tenants. This adjustment in price target stems from Simon's recent earnings performance and denotes a conservative outlook on the retail property market amid broader economic headwinds. Simon Property Group, Inc. (NYSE:SPG) is a self-managed and self-administered REIT specializing in the ownership, development, and operation of premier retail and mixed-use properties, including malls, outlets, and international destinations. While we acknowledge the potential of SPG as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure. None. Sign in to access your portfolio
Yahoo
15 minutes ago
- Yahoo
In search of Labour's ‘working people' – the paradox at the heart of Keir Starmer's first year in power
It's one year since Keir Starmer led the Labour party to a landslide victory. Starmer's manifesto, 'Change' had proposed 'securonomics' as a solution to the UK's many crises. This was sold as a way of ensuring 'sustained economic growth as the only route to improving the prosperity of our country and the living standards of working people'. The document mentioned 'working people' a total of 21 times. It was clear this demographic had been identified as the key target beneficiary of 'securonomics', otherwise referred to as 'the plan for change'. But there is a paradox at the heart of the proposal to deliver 'change' to 'working people' – one that helps explain the chaos of Labour's first year in government. By obsessively pitting this demographic against 'non-working people', Labour is in fact not promising any real change at all. Get your news from actual experts, straight to your inbox. Sign up to our daily newsletter to receive all The Conversation UK's latest coverage of news and research, from politics and business to the arts and sciences. One of the key premises of Labour's securonomics is that growth must precede any significant investment. 'Working people's' priorities are therefore presented as being in line with that of a fiscally responsible state. In the autumn budget, there was a pledge to 'fix the foundations of the economy and deliver change by protecting working people'. To do this, the chancellor needed to fix a 'black hole' of £22 billion in government finances. The refusal to lift the two-child benefit cap, alongside 'reforming the state to ensure […] welfare spending is targeted towards those that need it the most', was framed as 'putting more money in working people's pockets'. There has, meanwhile, been a continued emphasis on encouraging those on benefits back to work. Want more politics coverage from academic experts? Every week, we bring you informed analysis of developments in government and fact check the claims being up for our weekly , delivered every Friday. Besides the clear deepening of inequality wrought by similar reforms in the past, welfare cuts make no sense on an economic or societal level. They undermine the economy, and the consequences put additional pressure on already underfunded social services. As highlighted by the Office of Budgetary Responsibility (OBR), such cuts fail to deliver the promised behavioural change to force people into work. People instead become more focused on day-to-day survival. Despite the government's last ditch climbdown to save its flagship welfare reform policy its cuts are still forecast to push more than 150,000 people into poverty Such reforms carried out in the name of 'working people' perpetuate a pernicious myth of us v them. Not only are people in work also affected by these cuts but people's lives – including their jobs, income, family situations, and health – shift regularly, making the 'strivers v skivers' divide both simplistic and inaccurate. Even 'secure borders' and 'smashing the criminal gangs' were positioned as 'grown up politics back in the service of working people'. This association of working people with anti-immigrant attitudes links to a broader homogenisation of 'working people' as both 'patriotic' and in search of 'security'. 'Fixing the foundations' has been depicted in several social media posts as a patriotic act via use of the Union Jack. Meanwhile, stage-managed photoshoots of Starmer in factories with people wearing hard hats and hi-visibility jackets give a clear impression of the types of manufacturing jobs the government believes 'working people' carry out. This gives an impressions that belies the reality of modern Britain – and an economy that is dominated by the service sector,, not manufacturing or building. While Starmer framed his 'plan for change' as a break with previous administrations, his 'working people' narrative betrays this claim as anything but. The idea that the deserving 'working people' are different and separate from people who don't (or can't) work has been deployed by government after government to justify austerity and cuts to services. It has always been useful to separate the 'scroungers from the strivers' and there is no sign of Labour changing course. The term 'working people' also builds on a previous trope of the 'hard-working family'. While initially coined by New Labour, this term has roots in Margaret Thatcher's idea of the family, rather than the state, as the locus of welfare. It was not for the state to take care of you but your own kin. Like 'working people' now, 'hard-working families' were those who played by the rules and knuckled down to earn a living. Previous Conservative administrations have depicted 'hard-working families' as burdened by the unemployed, the poor, the sick and disabled and immigrants. Add to this, the signalling continues to imply that the 'authentic' working class of Britain are solely white – sometimes also male – and typically older, manual labourers, who are assumed to hold socially conservative views. This is another divide-and-rule trope which neglects the reality of the multiracial and multiethnic composition of the working classes. In light of all this, any real 'change' promised in Labour's manifesto has been betrayed by a continuity with tired and damaging tropes of deserving and undeserving people. This is contributing to the sense, a year in, that this Labour government is merely repeating past government failures rather than striking out in a new direction. This article is republished from The Conversation under a Creative Commons license. Read the original article. George Newth works for University of Bath and is a member of the Green Party
Forbes
18 minutes ago
- Forbes
Investor Deborah Meaden At Wimbledon: No Net Zero Without Nature
Deborah Meaden in the Royal Box on day four of the 2025 Wimbledon Championships at the All England ... More Lawn Tennis and Croquet Club, London. Picture date: Thursday July 3, 2025. (Photo by John Walton/PA Images via Getty Images) 'Protect nature, and net zero kind of happens," was the message that renowned entrepreneur and investor Deborah Meaden shared during an environment-focussed session at the Wimbledon Championships yesterday. Meaden is known for her advocacy on sustainable investing and now only invests in organisations that both have a strong business case to be profitable, but also operate in someway to reduce planetary impact and create jobs. She shared her personal journey with nature, frustrations with current corporate approaches, and called businesses and sports leaders to action. In a climate discourse led by emissions targets and carbon accounting, Meaden wants nature to feature too. Deborah Meaden speaks during the environmental panel discussion event Nature Cannot Be Taken For Granted Just over half of global gross domestic profit or 58 trillion dollars, is moderately or highly dependent on nature. The Wimbledon environment session took place on day four of the grand slam, with climate and nature being front of mind, following the hottest opening day ever-recorded at the Championships. Extreme heat impacting both the performance and business of sport is something we are now seeing much more frequently. Nature has 'been so generous to us," Meaden shared. 'We're just sucking the life out of it and right now, we just need to pay it back a little bit.' Abbie Dewhurst, Deborah Meaden, Bear Grylls, and Rita Maria El Zaghloul take part in an ... More environmental panel discussion in the Parkside Suite in No.1 Court Meaden was joined on the panel by winner of The 2024 Earthshot Prize, director of High Ambition Coalition for Nature and People, Rita Maria El Zaghloul. Leading a coalition of countries calling for the protection of 30 percent of our land and ocean by 2030, she shared when talking with governments this isn't just an issue from an environmentalist perspective. 'It's really an issue that's it's across all the sectors, it's related to our food system, it's related to our economies.' This reflects thinking from other key business leaders. 'Today businesses treat nature as if it is free and unlimited. It is time for boards, under their director's duties, to dismiss current fake financial profits that take nature for granted," Earth on Board founder, Philippe Joubert recently told me. Sustainability Can't Sit in a Silo Meaden pulls no punches when it comes to corporate action, or inaction. While she sees promising work from startups who begin with sustainability at their core, she believes some businesses still treat sustainability as a side project. 'I don't believe a business is serious until I can walk into any department and they can explain what they're doing for the environment," she shared. 'Until sustainability is discussed in the boardroom, not as an 'any other business' item, I don't believe the business is serious,' she went on. 'In business, we make decisions all day. We need to slide nature into those filters.' What Has Nature Go To Do With Business and Sport? Business leaders and influencers came together to talk about nature at the tennis, but what has sport got to do with nature, environmental protection, investment and business? 'Sport has people's attention, you know, that's ultimately it, isn't it?' shared British adventurer, television presenter and former SAS trooper, Bear Grylls, who also spoke at the event. Wildflower bank on the Aorangi practice courts at Wimbledon 'If you care about the environment, you care about people. You, that's a solution the world needs, whether you're leading Wimbledon, whether we're leading our own lives, big businesses, inspiring young people, you know, I think it all comes back to leadership and the values we want to be known for in our lives.' Wimbledon Championships 'aspire to deliver a positive and sustainable impact on our economy, society and the environment in support of the UN's Sustainable Development Goals.' This is evident to attendees of the grand slam through visible signage across the venue encouraging environmentally friendly-behaviours. Reusable cups and recycling areas are ubiquitous, 100 free water refill stations are available, living walls and wildflower and nature areas that attract pollinators abound. Used tennis balls made into art to absorb sounds in the cafe, and in the shops new products made from upcycled leftover merchandise from previous years is available, bringing the circular economy to revenue streams. The All England Lawn Tennis Club plan to expand their site to include bring qualifying to the famous SW19 postcode, by converting a private golf course to a green space of which half would be open to the public. Thas been met by some local opposition. For investors and corporate leaders, embedding nature into core business strategy isn't just ethical, it's economically essential. As global markets wake up to the financial risks of biodiversity loss and ecosystem collapse, forward-looking companies are already shifting toward nature-positive investing and climate-resilient models. Deborah Meaden's headline take away of 'protect nature, and net zero kind of happens'highlights a growing understanding that natural capital underpins financial capital. Whether you're allocating assets or shaping strategy, climate and nature risk are business risks, and the organisations that recognise this now will be the ones leading tomorrow.
