JuSun It's been a while since I last visited Simon Property Group (NYSE:SPG) here with a 'Strong Buy' rating back in May of last year, and I'm glad I stuck with my buy and hold thesis on the stock over this time. While the dramatic rise in the S&P 500 (SPY), driven by the growth in a number of mega-cap tech stocks like Apple (AAPL) and Meta Platforms (META), has caught attention-grabbing headlines, stocks like SPG that were dramatically undervalued have had solid-performing runs of their own. This is reflec ...

Bo Shen/iStock Editorial via Getty Images Investors in leading high-quality retail landlord Simon Property Group, Inc. (NYSE:SPG) have experienced a dramatic revival in their fortunes over the past three months. I urged SPG investors to capitalize on its steep pullback in September 2023, although SPG bottomed out decisively only in early October 2023. Accordingly, dip buyers loaded up and sent SPG surging over the past three months, registering a 1Y total return of almost 25%. Relative to SPG's 5Y and 1 ...

PM Images Simon Property Group (NYSE:SPG) is back to pre-pandemic levels, and despite appreciating by 35.47% ($37.08) since October 27th, I still think there is an opportunity here. While shares of SPG aren't as heavily discounted as they were in the middle of 2023, there could still be value to be extracted as SPG trades at 12.12x its funds from operations (FFO) per share and pays a 5.37% dividend yield. I believe that REITs could be a big beneficiary in 2024 due to a rate easing cycle as the worry abo ...

(1) Pursuant to Treas. Reg. §1.1061-6(c), the Company reports that for purposes of Section 1061 of the Internal Revenue Code, the One Year Amounts Disclosure and the Three Year Amounts Disclosure are $0.00 with respect to direct and indirect holders of "applicable partnership interests." ...

INDIANAPOLIS, Jan. 10, 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 fourth quarter earnings release and conference call. Simon's financial and operational results for the quarter ending December 31, 2023, will be released after the market close on February 5, 2024.  The Company will host its quarterly earnings conference call and an audio webcast on February 5 from 5 ...

INDIANAPOLIS, Jan. 9, 2024 /PRNewswire/ -- Simon®, a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations, announced today that Nina P. Jones has been appointed to its Board of Directors, effective January 8, 2024. Ms. Jones retired from T. Rowe Price where she most recently served as Vice President, Portfolio Manager, of the U.S. Real Estate Equity Strategy. Ms. Jones also served as global team leader for real estate at T. Rowe Price in ...

Simon Property Group, Inc. (NYSE:SPG) Goldman Sachs 2023 US Financial Services Conference December 5, 2023 3:40 PM ET Company Participants Brian McDade - Chief Financial Officer Conference Call Participants Caitlin Burrows - Goldman Sachs Caitlin Burrows Thank you, Brian, for joining us, and everyone else. I'm Caitlin Burrows and I cover REITs at Goldman Sachs. As I believe the audience knows, Simon is a REIT engaged in the ownership of premier shopping, dining, entertainment, and mixed-use destinations acr ...

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 September 30, 2023 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.) (Simon Propert ...

Simon Property Group, Inc. (NYSE:SPG) Q3 2023 Earnings Call Transcript October 30, 2023 5:00 PM ET Company Participants Tom Ward - SVP, IR David Simon - Chairman, CEO and President Brian McDade - CFO Conference Call Participants Ron Kamdem - Morgan Stanley Caitlin Burrows - Goldman Sachs Samir Khanal - Evercore ISI Alexander Goldfarb - Piper Sandler Jeff Spector - Bank of America Michael Goldsmith - UBS Floris van Dijkum - Compass Point Vince Tibone - Green Street Greg McGinniss - Scotiabank Mike Mueller - ...

Summary of Simon Property Group, Inc. Conference Call Company Overview - **Company**: Simon Property Group, Inc. (NYSE:SPG) - **Event**: Bank of America 2023 Global Real Estate Conference Call - **Date**: September 12, 2023 Key Points Company Performance and Strategy - Simon Property Group continues to prosper and grow, operating across three platforms: malls, outlets, and Mills [5][6] - The company sees opportunities to drive occupancy and reinvest in real estate, emphasizing the importance of physical stores alongside e-commerce [5][6] - The company has a strong financial footing and is optimistic about the remainder of 2023 and 2024 [6] Market Dynamics - There is a supply/demand imbalance favoring landlords in the U.S. retail real estate market, with regional malls, outlets, and power centers being undersupplied [9] - The competitive dynamic for Simon is stronger than for others in the sector, allowing for reinvestment in assets and partnerships with retailers [9] Retail Environment - There is significant demand from retailers for physical real estate, with approximately 30% of Simon's activity in the last year being new deals rather than renewals [11][12] - Retailers are expanding and optimizing their footprints, recognizing the importance of physical stores in conjunction with digital strategies [12][13] - Retailer balance sheets are in good shape, with many having improved their financial positions post-COVID [13] Luxury Retail Trends - Luxury retail is undergoing a transformation, with brands moving away from department stores to full-price stores, which is driving demand for space [19][20] - Simon is benefiting from this trend as luxury retailers seek both full-price and outlet spaces [20][21] Financial Outlook - Simon expects a potential slowdown in consumer spending in 2024 but anticipates continued strong demand from retailers for prime locations [17] - The company has approximately $2.5 billion of unsecured debt maturing in 2024, with plans to pre-fund and refinance as necessary [32][33] Redevelopment and Investment - Simon's redevelopment pipeline is expected to exceed $1 billion, focusing on recapturing anchor stores and adding density through mixed-use developments [41][42] - The company is actively building new outlets and expanding existing ones, with significant projects planned in the U.S. and abroad [43][44] Returns and Risk Management - Expected returns on redevelopment projects generally range from 7% to 9% unlevered, with a disciplined approach to project initiation and financing [46][47] - The company utilizes free cash flow for investments, providing a competitive advantage in managing development costs [46] Stock Buyback Program - Simon has a $2 billion stock buyback authorization and plans to utilize it as opportunities arise from monetizations or free cash flow generation [40] Market Transactions - The acquisitions market for A-class malls is characterized by unique transactions, often leading to redevelopment rather than maintaining current operations [59][60] Future Expectations - The company does not expect the Federal Reserve to stop hiking rates but anticipates rate cuts by the end of 2024 [61] - Real estate transactions are expected to pick up in the second half of 2024 [62] - Simon is currently using AI in various business aspects and plans to increase investment in AI initiatives [62] Additional Insights - The company is strategically positioned to leverage the intersection of physical and digital retail, which is expected to drive growth in the coming years [12][14] - The transformation of luxury retail and the focus on full-price stores indicate a shift in consumer behavior that Simon is well-prepared to capitalize on [19][20]