Development and Expansion - Simon is reinvesting in Fashion Valley to integrate luxury living, including 850 multi-family luxury residences by AMLI Residential, creating a vibrant and exclusive residential enclave [1] - The project includes 100,000 square feet of new retail space, unique dining experiences, green spaces, and ample parking, enhancing the lifestyle community [2] - Fashion Valley recently completed a multimillion-dollar revitalization, introducing first-to-market luxury brands like Dior, Bottega Veneta, David Yurman, and Dolce & Gabbana [2] - Additional luxury brands, including Celine, Christian Louboutin, and Fendi, are set to open in 2024 and 2025, further elevating the shopping experience [2] - Rolex Boutique Fourtané expanded its footprint with a custom San Diego-inspired design, and Omega plans to reopen, while brands like Tudor, Veronica Beard, and Zimmermann will join in 2024 [3] Strategic Positioning and Growth - Fashion Valley is positioned as the premier luxury shopping destination in San Diego, attracting affluent shoppers from a large trade area, including Mexico [4] - The redevelopment project is expected to begin after JCPenney's closure in late 2025 and be completed by late 2026, marking a new era of sophisticated and convenient living [4] Company Overview - Simon is a real estate investment trust and an S&P 100 company, owning premier shopping, dining, entertainment, and mixed-use destinations across North America, Europe, and Asia [5] - AMLI Residential focuses on developing and managing environmentally responsible luxury apartment communities, with 77 communities and over 26,000 apartment homes, plus 2,900 under development [6] - AMLI is a leader in multifamily sustainability, with 49 LEED-certified and 47 ENERGY STAR-certified communities [7]

Simon Property Group (SPG) , the behemoth in the retail real estate industry, continues to demonstrate its prowess with strategic investments and redevelopments. Recently, it announced reinvestment plans for Houston’s iconic The Galleria, underscoring its strategy to enhance its property portfolio, catering to the ever-growing demand for luxury retail spaces.Texas' largest and one of the nation’s biggest shopping centers, The Galleria, spans more than 2.4 million square feet, drawing more than 30 million vi ...

Luxury Retail Expansion - Simon plans to further invest in Houston's The Galleria with an interior and exterior revitalization, including several hundred million dollars already invested in the redevelopment [1] - The Galleria is Houston's most desirable shopping and tourist attraction, offering over 2.4 million square feet of retail, dining, and amenities [1] - Transformative multimillion-dollar upgrades will begin in summer 2024 and are expected to be complete by early 2025, focusing on elevating aesthetics and creating a refined ambience for over 30 million annual visitors [2] - The revitalization includes 155,000 square feet of modern new flooring and sleek entryways with contemporary LED lighting and ceiling enhancements [2] Luxury Brand Growth - Several key luxury brands have expanded and enhanced their Galleria boutiques, including Gucci, Louis Vuitton, FENDI, and Saint Laurent, with FENDI and Saint Laurent doubling their footprints [3] - The Galleria has welcomed new high-end retailers such as Dolce & Gabbana, AMIRI, Maria Tash, Prada, Dior, and Alo Yoga, with more expected to open soon, including Etro and Frette [3] - The Galleria features over 70 market-exclusive brands, including Akris, Balenciaga, Chanel, and Rolex Boutique, among others, and is home to the city's only Nobu and Musaafer restaurants [4] Global Recognition and Mixed-Use Environment - The Galleria is internationally renowned as one of America's finest mixed-use environments, inspired by the Galleria Vittorio Emanuele in Milan, Italy [5] - The center, which opened in 1970, features more than 400 fine stores, over 60 eateries, two high-rise Westin hotels, three office towers, co-working space, and various notable amenities [5] Simon's Investment Strategy - Simon is reinvesting in The Galleria to ensure it continues to set the industry standard for premier centers worldwide, with modern improvements and fresh facades to elevate the experience for discerning patrons [3] - The company aims to further cement The Galleria as a global leader in the luxury retail space, meeting strong demand from luxury brands [4]

Morgan Stanley (NYSE:MS) strategists are urging investors to snap up U.S. government bonds, even if the economy doesn’t slow down. They believe bond yields could fall dramatically driven by “residual seasonality,” a statistical quirk that can sway economic data even after seasonal adjustments. This could lead to predicting a more rapid decline in inflation than the market is currently pricing in, and three stocks to sell in light of MS’s prediction.As bond yields fall, bond prices rise. However, the cooling ...

Table of Contents J UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 SIMON PROPERTY GROUP, INC. SIMON PROPERTY GROUP, L.P. (Exact name of registrant as specified in its charter) Delaware 001-14469 04-6268599 (Simon Property Gr oup, Inc.) ...

Shares of Simon Property Group, Inc. (SPG) have been up more than 2% during today’s pre-market session on the NYSE today after this retail REIT behemoth came up with better-than-expected first-quarter funds from operations (FFO) per share yesterday. SPG also increased its 2024 FFO per share outlook and raised its dividend.Simon Property's first-quarter 2024 FFO per share of $3.56 surpassed the Zacks Consensus Estimate of $2.80. Also, the figure increased from $2.74 reported in the year-ago period.Results re ...

Simon Property Group has seen a “big comeback” in malls, driven in part by domestic tourism.The company, which is a real estate investment trust that owns shopping, dining, entertainment and mixed-use destinations, saw its occupancy rise 1.1% year over year (YoY) and reach 95.5% as of March 31, Simon said in a Monday (May 6) earnings release.It also saw its base minimum rent per square foot rise 3% YoY, reaching $57.53 on March 31, according to the release.“Needless to say, I’m very pleased with our first q ...

Simon Property Group, Inc. (NYSE:SPG) Q1 2024 Earnings Conference Call May 6, 2024 5:00 PM ET Company Participants Tom Ward - Senior Vice President, Investor Relations David Simon - Chairman, Chief Executive Officer and President Brian McDade - Executive Vice President and Chief Financial Officer Conference Call Participants Caitlin Burrows - Goldman Sachs Lizzy Doykan - Bank of America Samir Khanal - Evercore ISI Ronald Kamdem - Morgan Stanley Michael Goldsmith - UBS Alexander Goldfarb - Piper Sandler Nich ...

For the quarter ended March 2024, Simon Property (SPG) reported revenue of $1.44 billion, up 6.8% over the same period last year. EPS came in at $3.56, compared to $1.38 in the year-ago quarter.The reported revenue represents a surprise of +2.47% over the Zacks Consensus Estimate of $1.41 billion. With the consensus EPS estimate being $2.80, the EPS surprise was +27.14%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street exp ...

Simon Property (SPG) came out with quarterly funds from operations (FFO) of $3.56 per share, beating the Zacks Consensus Estimate of $2.80 per share. This compares to FFO of $2.74 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of 27.14%. A quarter ago, it was expected that this shopping mall real estate investment trust would post FFO of $3.34 per share when it actually produced FFO of $3.69, delivering a surprise of 10.48%.Over the ...