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Simon Property Group, Inc. - SPG STOCK NEWS

Welcome to our dedicated page for Simon Property Group news (Ticker: SPG), a resource for investors and traders seeking the latest updates and insights on Simon Property Group stock.

Simon Property Group, Inc. (NYSE: SPG) is a global leader in retail real estate ownership, management, and development. As an S&P 100 company, Simon Property Group boasts an extensive portfolio that spans across North America, Europe, and Asia, providing premier shopping, dining, entertainment, and mixed-use destinations. With a formidable market capitalization exceeding $80 billion, Simon Property Group is well-positioned as the second-largest real estate investment trust in the United States.

The company's portfolio includes investments in 230 properties, comprising 136 traditional malls, 69 premium outlets, 14 Mills centers, 6 lifestyle centers, and 5 other retail properties. Their strategic investment also includes a 21% interest in Klépierre, a European retail company with shopping centers in 16 countries, and joint-venture interests in 33 premium outlets across 11 countries. Simon's properties generate billions in annual sales and provide community gathering places for millions of people every day.

Simon Property Group is renowned for its strong balance sheet, long-tenured and well-respected senior management team, and innovative spirit. This reputation is backed by over 50 years of successful retail real estate development, management, and leasing. Recent achievements include receiving a four-star rating from the Global Real Estate Sustainability Benchmark (GRESB) for its sustainability practices and the commencement of construction on the Jakarta Premium Outlets® in Indonesia, which is set to open in February 2025.

Financially, the company continues to demonstrate strong performance with robust liquidity. As of September 30, 2023, the company had approximately $8.8 billion of liquidity, including $1.4 billion in cash and $7.4 billion in available capacity under its revolving credit facilities. The company also completed eleven non-recourse mortgage loans totaling approximately $962 million, with Simon's share being $540 million, at a weighted average interest rate of 6.03%.

Simon's strategic initiatives are aimed at growth and sustainability. During the first nine months of 2023, the company repurchased 1,267,995 shares of its common stock and declared a quarterly common stock dividend of $1.90 for the fourth quarter of 2023, representing a 5.6% year-over-year increase. Moreover, the company has provided optimistic guidance for 2023, with expected net income per diluted share ranging from $6.67 to $6.77 and Funds From Operations (FFO) per diluted share ranging from $12.15 to $12.25.

With a commitment to sustainability, continuous development, and robust financial health, Simon Property Group remains a pinnacle of real estate investment, delivering significant value to investors and maintaining its leadership in the industry.

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Simon, a real estate investment trust, will release its financial and operational results for the second quarter of 2023 on August 2. The company will host a conference call and webcast to discuss the results. An audio replay will be available after the call.
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Simon and Razer collaborate to open five RazerStore shops for gamers, offering premium gaming hardware and gear. The new locations are now open in Philadelphia, Long Island, Orlando, Miami, and Austin.
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Simon has announced the construction of a new Residence Inn by Marriott at Northgate Station. The hotel will provide walking-distance access to the Northgate Sound Transit station, Kraken Community Iceplex, and Northgate Station shopping center. The development will also include a new recreational area. The project aims to create a sustainable and vibrant live, work, play, stay, and shop experience for the community.
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Luxury multi-branded retailer, The Webster, will be expanding their physical store footprint with the opening of three new boutiques in New Jersey, Atlanta, and Austin. The boutiques will offer a highly curated selection from leading designers and will enhance the luxury offerings at these locations.
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Simon, a real estate investment trust, reported positive results for the quarter ended March 31, 2023. Net income increased to $451.8 million, or $1.38 per diluted share, compared to $426.6 million, or $1.30 per diluted share in 2022. Domestic property NOI increased by 4.0% and portfolio NOI increased by 3.9%. Simon opened a new luxury outlet in France and construction restarted on an upscale outlet in Oklahoma. The company completed a senior notes offering of $1.3 billion and closed on a new $5.0 billion revolving credit facility. Simon increased its quarterly dividend by 8.8% for the second quarter of 2023.
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Simon, a leading real estate investment trust, announced the schedule for its first quarter earnings release and conference call. The financial results for the quarter ending March 31, 2023, will be disclosed after market close on May 2, 2023. Following this, Simon will host a conference call from 5:00 p.m. to 6:00 p.m. EDT on the same day. The live audio webcast can be accessed via investors.simon.com. Participants can join the call by dialing specific numbers based on their location. An audio replay will also be available from May 2, 2023, until May 9, 2023. Simon Property Group (NYSE: SPG) reinforces its status as an S&P 100 company, owning premier shopping, dining, and entertainment destinations worldwide.

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Simon Property Group has announced plans for the second annual National Outlet Shopping Day, set for June 10 and 11, 2023, at over 90 of its Premium Outlets and The Mills locations in the U.S. and Canada. Following the success of the inaugural event, Simon anticipates an even greater turnout, boosted by exclusive deals from top retailers like Aéropostale, Banana Republic, and Polo Ralph Lauren. This year, the event will also include special online promotions, live-streaming events, and international participation from properties in Mexico, Thailand, and Malaysia. Additionally, the Simon American Express® Credit Card will offer double rewards on select purchases during the event. The excitement includes a contest for a $50,000 getaway to the Orlando Premium Outlets, fostering greater shopper engagement.

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FAQ

What is the current stock price of Simon Property Group (SPG)?

The current stock price of Simon Property Group (SPG) is $171.61 as of December 20, 2024.

What is the market cap of Simon Property Group (SPG)?

The market cap of Simon Property Group (SPG) is approximately 56.1B.

What is Simon Property Group, Inc.?

Simon Property Group, Inc. (NYSE: SPG) is a global leader in retail real estate ownership, management, and development, with a significant portfolio across North America, Europe, and Asia.

What types of properties are in Simon's portfolio?

Simon Property Group's portfolio includes 136 traditional malls, 69 premium outlets, 14 Mills centers, 6 lifestyle centers, and 5 other retail properties.

What are some recent achievements of Simon Property Group?

Recent achievements include receiving a four-star rating from GRESB for sustainability practices and starting construction on Jakarta Premium Outlets®, Indonesia's first Premium Outlet® Center.

How financially stable is Simon Property Group?

As of September 30, 2023, Simon Property Group had $8.8 billion in liquidity, including $1.4 billion in cash and $7.4 billion available under revolving credit facilities, and completed mortgage loans totaling $962 million.

What is Simon Property Group's dividend policy?

Simon Property Group declared a quarterly common stock dividend of $1.90 for Q4 2023, reflecting a 5.6% year-over-year increase.

What is the market capitalization of Simon Property Group?

Simon Property Group has a market capitalization exceeding $80 billion.

Does Simon Property Group have any international investments?

Yes, Simon Property Group owns a 21% interest in Klépierre, a European retail company with investments in shopping centers across 16 countries, and joint-venture interests in 33 premium outlets in 11 countries.

How does Simon Property Group contribute to sustainability?

Simon Property Group has been recognized for its sustainability practices, receiving a four-star rating from the Global Real Estate Sustainability Benchmark (GRESB).

Who are the key management members of Simon Property Group?

The company is known for its long-tenured and well-respected senior management team, led by David Simon, Chairman, CEO, and President.

What is the significance of Simon Property Group in the real estate industry?

Simon Property Group is one of the largest and most influential real estate investment trusts in the world, known for its premier properties and significant market presence.

Simon Property Group, Inc.

NYSE:SPG

SPG Rankings

SPG Stock Data

56.07B
323.20M
0.92%
91.46%
1.59%
REIT - Retail
Real Estate Investment Trusts
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United States of America
INDIANAPOLIS