Simon Property(SPG)

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Simon® Embraces Environmental Transparency by Disclosing through CDP
Prnewswire· 2024-02-14 15:00
INDIANAPOLIS, Feb. 14, 2024 /PRNewswire/ -- Simon® today announced that it has furthered its commitment to environmental transparency by disclosing its environmental impact through CDP, a global non-profit that runs the world's leading environmental disclosure platform. Simon has disclosed through CDP since 2016, and in 2023 completed CDP's Climate Change questionnaire. With a record 23,000+ companies disclosing through CDP in 2023, disclosing data on environmental impact is now a business norm. "Tackling c ...
Simon Property Group: Not Ready To Pull The Trigger
Seeking Alpha· 2024-02-09 01:05
d3sign/Moment via Getty Images Summary In our initial report on Simon (NYSE:SPG), we gave it a Hold. Following a generally positive Q4 earnings report, we raised our price target and upgraded it to a bullish Hold. While Simon is now trading at a moderate discount to our NAV estimate, we require a more substantial margin of safety before moving to a Buy. We also reevaluate the Series J preferred stock, and maintain our Sell rating given the ~3.4% YTC, which is lower than the entire US treasury yield curv ...
Simon Property Group: Solid Trends Behind This 5.4% Yield
Seeking Alpha· 2024-02-08 10:36
felixmizioznikov/iStock Editorial via Getty Images Simon Property Group (NYSE:SPG) reported its Q4 results, with a beat to consensus revenue and funds from operations. Shares rallied by more than 4% on the news which included a dividend increase announcement. The shopping mall real estate specialist caps off a record year where it benefited from resilient economic conditions and the strength of the U.S. consumer. For any talk over the past decade that brick-and-mortar retail might be dying, the latest trend ...
Simon Property (SPG) Q4 FFO Beat Estimates on Higher Revenues
Zacks Investment Research· 2024-02-06 16:31
Simon Property Group, Inc.’s (SPG) fourth-quarter 2023 funds from operations (FFO) per share of $3.69 surpassed the Zacks Consensus Estimate of $3.34. Revenues of $1.53 billion outpaced the Zacks Consensus Estimate of $1.46 billion.Its FFO per share reported an 8.5% increase year over year. Revenues rose 9.1% year over year.For the full-year 2023, the FFO per share came in at $12.51, higher than the prior-year tally of $11.95, beating the Zacks Consensus Estimate of $12.16. This was backed by 6.9% growth in ...
Simon Property (SPG) Q4 FFO Beat, '24 View Below Expectation
Zacks Investment Research· 2024-02-06 16:16
Simon Property Group, Inc.'s (SPG) fourth-quarter 2023 funds from operations (FFO) per share of $3.69 surpassed the Zacks Consensus Estimate of $3.34. Also, the figure increased 8.5% year over year.Results reflect better-than-anticipated revenues on lower property operating expenses and a rise in the base rent per square foot and occupancy levels. However, higher interest expenses partly offset the upsides. This retail behemoth’s 2024 FFO per share outlook was lower than expected.Simon Property generated re ...
Simon Property(SPG) - 2023 Q4 - Earnings Call Transcript
2024-02-06 02:31
Simon Property Group, Inc. (NYSE:SPG) Q4 2023 Earnings Conference Call February 5, 2024 5:00 PM ET Company Participants Tom Ward - SVP, IR David Simon - Chairman, CEO and President Brian McDade - CFO Conference Call Participants Steve Sakwa - Evercore ISI Caitlin Burrows - Goldman Sachs Jeff Spector - Bank of America Alexander Goldfarb - Piper Sandler Michael Goldsmith - UBS Craig Mailman - Citigroup Vince Tibone - Green Street Ron Kamdem - Morgan Stanley Greg McGinniss - Scotiabank Hong Zhang - JPMorgan Ki ...
Simon Property Group Leverages Digital Loyalty Tech to Drive Brick-and-Mortar Visits
PYMNTS· 2024-02-06 00:12
Simon Property Group is leveraging technology to maintain shoppers’ visits to on-site stores in the face of growing competition from eCommerce players.The largest mall owner and developer in the U.S. has driven revenue increases, reporting Monday (Feb. 5) that, in the final quarter of 2023, it saw a 9% year-over-year uptick, with revenue for the full year up 7%.David Simon, the company’s chairman of the board, CEO and president, noted on a call with analysts that the firm is leveraging consumer-facing techn ...
Here's What Key Metrics Tell Us About Simon Property (SPG) Q4 Earnings
Zacks Investment Research· 2024-02-06 00:01
For the quarter ended December 2023, Simon Property (SPG) reported revenue of $1.53 billion, up 9.1% over the same period last year. EPS came in at $3.69, compared to $2.06 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $1.46 billion, representing a surprise of +4.90%. The company delivered an EPS surprise of +10.48%, with the consensus EPS estimate being $3.34.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Stre ...
Simon Property (SPG) Q4 FFO and Revenues Top Estimates
Zacks Investment Research· 2024-02-05 23:15
Simon Property (SPG) came out with quarterly funds from operations (FFO) of $3.69 per share, beating the Zacks Consensus Estimate of $3.34 per share. This compares to FFO of $3.15 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of 10.48%. A quarter ago, it was expected that this shopping mall real estate investment trust would post FFO of $2.98 per share when it actually produced FFO of $3.20, delivering a surprise of 7.38%.Over the l ...
What's in Store for Simon Property (SPG) This Earnings Season?
Zacks Investment Research· 2024-02-01 15:50
Simon Property Group (SPG) is slated to report fourth-quarter and full-year 2023 results on Feb 5 after market close. The company’s quarterly results are likely to display year-over-year growth in revenues and funds from operations (FFO) per share.In the last reported quarter, this Indianapolis, IN-based retail real estate investment trust (REIT) delivered a surprise of 7.38% in terms of FFO per share. Results reflected better-than-anticipated revenues on healthy leasing activity and a rise in the base rent ...