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$SPG 1Q15 10-Q: In Feb. 2015, agreed to create a JV with HBC. Upon formation of JV, HBC will contribute 42 owned properties for an eventual pro forma 80% equity interest. SPG has committed to contribute $100MM to the JV; may contribute up to an additional $178.5MM for an eventual pro forma equity stake of 20%. Expect transaction to close in 2Q15.
What will be an ideal EPS range for $PZZA in its earnings today?
The U.S. Treasury will be receiving $10 billion as dividends from the combined government-backed mortgage giants Fannie Mae and Freddie Mac. This is a sign that a recovered housing market is allowing the once-ailing firms to subsidize federal government spending.