PM Images At the time, many investors thought the impacts of the pandemic would cripple the economy and the stock market for a longer duration of time than they did. While some industries rebounded much quicker than others, many will look back on the early days of the pandemic and wish they had put more capital to work. I certainly didn't catch Simon Property Group (NYSE:SPG) at the bottom, but in 2022, I paid as much as $114.61 and as little as $89.32 when I was building my position in what I consider ...

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 June 30, 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 (Simon Property Group, Inc.) Delaware (Simon Propert ...

Simon Property Group, Inc. (SPG) reported second-quarter funds from operations (FFO) per share of $2.90, missing the Zacks Consensus Estimate of $2.93. It generated revenues of $1.46 billion in the quarter, which surpassed the Zacks Consensus Estimate of $1.43 billion.On a year-over-year basis, FFO per share reported a marginal increase, while the top line rose 6.5%.Increase in Lease & Other Income Boosts RevenuesSPG’s lease income grew 4.8% year over year to $1.32 billion in the second quarter of 2024. The ...

Simon Property Group, Inc. (SPG) reported second-quarter funds from operations (FFO) per share of $2.90, missing the Zacks Consensus Estimate of $2.93. However, the figure increased from $2.88 reported in the year-ago period.Results reflect higher interest expenses on a year-over-year basis. However, an increase in revenues, backed by a rise in the base rent per square foot and occupancy levels supported the results to some extent. SPG also increased its 2024 FFO per share outlook and raised its dividend.Si ...

TABLE OF CONTENTS SIMON PROPERTY GROUPEARNINGS RELEASE & SUPPLEMENTAL INFORMATION UNAUDITED SECOND QUARTER TABLE OF CONTENTS TABLE OF CONTENTS EARNINGS RELEASE AND SUPPLEMENTAL INFORMATION | --- | --- | |-------------------------------------|-------| | FOR THE QUARTER ENDED JUNE 30, 2024 | PAGE | | (1)Earnings Release | 2−11 | | --- | --- | |----------------------------------------------------------------------------------|-------| | Overview | 12 | | The Company | 12 | | Stock Information, Credit Ratings a ...

In its upcoming report, Simon Property (SPG) is predicted by Wall Street analysts to post quarterly earnings of $2.92 per share, reflecting an increase of 1.4% compared to the same period last year. Revenues are forecasted to be $1.43 billion, representing a year-over-year increase of 4.4%.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 0.1% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections duri ...

Giulio Fornasar/iStock via Getty Images SPG Stock: I used to like it too Wall Street analysts are currently bullish on Simon Property Group (NYSE:SPG). More specifically, the chart below summarizes the current sentiment on SPG stock from Wall Street. As seen, SPG stock currently receives a solid buy rating (with an average rating of 3.66). In the last 90 days, 18 Wall Street analysts have weighed in on the stock, with 5 strong buy ratings, 2 buy ratings, 11 hold ratings, and no sell or strong sell ratin ...

Core Viewpoint - Simon Property Group (SPG) has shown strong total return performance since the last analysis in March 2020, significantly outperforming the overall REIT market [1] - The company has nearly restored its pre-pandemic dividend level, with the current quarterly dividend at $2.0 per share, yielding 5.4% [2] - Despite the positive performance, there is caution regarding future return prospects due to SPG's share price divergence from the overall REIT index [2] Valuation Metrics - SPG currently trades at a P/FFO of 12.3x, which is relatively high compared to other retail-focused REITs, with Macerich Company (MAC) at 9.2x [3] - The P/FCF metrics indicate that SPG's valuation is in line with pre-pandemic levels, and the dividend yield is also similar to pre-pandemic figures [3] Interest Rate Impact - Higher interest rates are expected to create a discount for SPG compared to pre-pandemic valuations, affecting property valuations and FFO generation [5] - SPG's business model, focusing on high-income consumers and trophy-like malls, helps mitigate risks associated with rising borrowing costs [5] - Approximately 97% of SPG's borrowings are fixed, with a well-laddered maturity profile, reducing immediate refinancing risks [5] Financial Performance - SPG has achieved an ~11% CAGR in FFO over the past three years, but FFO is nearly flat when compared to 2019 levels [6] - Analyst consensus estimates indicate almost no growth in FFO for 2025-2026, suggesting potential challenges in shareholder wealth creation when adjusted for inflation [6] Business Model Strength - SPG's business model is robust, designed to de-risk cash flows from declining consumer spending in lower-income brackets [7] - The capital structure is strong, with a gradual reduction in overall indebtedness since 2020, and a TTM FFO payout level of ~57% provides additional safety [7] Investment Recommendation - While SPG is viewed as a predictable dividend stock, it is not recommended to assume a massive exposure due to current multiples being similar to pre-COVID levels and subdued FFO growth projections [8] - The recommendation is to hold Simon Property Group [8]

INDIANAPOLIS, July 11, 2024 /PRNewswire/ -- Simon®, a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations, today announced details for its second quarter earnings release and conference call. Simon's financial and operational results for the quarter ending June 30, 2024, will be released after the market close on August 5, 2024.  The Company will host its quarterly earnings conference call and an audio webcast on August 5 from 5:00 p.m. ...

Simon Property (SPG) and bp’s global EV charging business, bp pulse joined hands for the installation and operation of more than 900 ultra-fast EV chargers at 75 sites in the United States. The move will benefit Simon in expanding its EV charging options across its portfolio and lure more shoppers.The first location with chargers from bp pulse will be made open to the public in early 2026 and support vehicles from nearly all EV makers. The Simon portfolio aligns with bp pulse’s strategy to deploy ultra-fast ...