Group 1 - The article emphasizes the importance of stocks that consistently deliver solid results and are trading at reasonable valuations while offering a solid yield [2] - Simon Property is highlighted as a stock that fits this profile, suggesting it may be a good investment opportunity for income-focused investors [2] Group 2 - The investment service iREIT+HOYA Capital focuses on income-producing asset classes that provide sustainable portfolio income, diversification, and inflation hedging [1]

Core Viewpoint - Herbert Simon, Chairman Emeritus of Simon Property Group, has retired effective February 4, 2025, marking a significant transition in the company's leadership [1]. Group 1: Leadership Transition - Herbert Simon co-founded Simon Property Group 65 years ago and has played a crucial role in its growth into a respected real estate company [2]. - David Simon, who has been CEO since 1994, expresses gratitude for Herbert Simon's contributions and anticipates continued growth for the company [2]. Group 2: Company Overview - Simon Property Group is a real estate investment trust (REIT) that owns premier shopping, dining, entertainment, and mixed-use destinations, and is part of the S&P 100 [3]. - The company's properties across North America, Europe, and Asia serve as community gathering places and generate billions in annual sales [3].

Group 1 - The focus is on growth and dividend income as a strategy for retirement planning [1] - The portfolio is structured to generate monthly dividend income that grows through reinvestment and annual increases [1] - The author holds long positions in SPG, O, and NNN, indicating a beneficial interest in these stocks [1] Group 2 - The article is presented as personal opinion and not as professional investment advice [2] - It emphasizes the importance of individual research before making investment decisions [2] - The content is intended for educational purposes and does not consider specific investment objectives or financial situations [2]

Core Insights - Simon Property Group is experiencing increased activity at its malls due to a digital advertising campaign aimed at attracting a new generation of consumers [1][3] - The company reported improvements in two of the three operating statistics for its U.S. malls and premium outlets in 2024 [1] Group 1: Advertising Campaign - The "Meet Me @themall" campaign was launched in September and targets consumers who want to engage in shopping, dining, and entertainment at malls like previous generations [3] - The campaign has received positive reception and is designed to be fun and engaging, utilizing new media platforms [4] Group 2: Financial Performance - Occupancy rates increased by 0.7 percentage points from 95.8% at the end of 2023 to 96.5% at the end of 2024 [2] - Base minimum rent per square foot rose by 2.5%, from $56.82 at the end of 2023 to $58.26 at the end of 2024 [2] - Retailer sales per square foot decreased by $4, from $743 for the trailing 12 months ended December 31, 2023, to $739 for the trailing 12 months ended December 31, 2024 [2] Group 3: Tariff Law Changes - The potential elimination of the U.S. "de minimis" rule, which currently exempts packages valued under $800 from tariffs, could benefit American retailers [4][6] - This change is being considered by President Trump and Congress, and it may provide a significant boost to retailers not intentionally shipping goods to avoid tariffs [6]

Simon Property Group, Inc.’s (SPG) fourth-quarter 2024 funds from operations (FFO) per share of $3.68 surpassed the Zacks Consensus Estimate of $3.40. This compares to an FFO of $3.69 per share a year ago.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Results reflect an increase in revenues, backed by a rise in the base minimum rent per square foot and occupancy levels. SPG issued its guidance for 2025 FFO per share.Simon Property generated revenues of $1.58 billion in the quarter, ...

For the quarter ended December 2024, Simon Property (SPG) reported revenue of $1.58 billion, up 3.6% over the same period last year. EPS came in at $3.68, compared to $2.29 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $1.55 billion, representing a surprise of +2.27%. The company delivered an EPS surprise of +8.24%, with the consensus EPS estimate being $3.40.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Stree ...

Simon Property (SPG) came out with quarterly funds from operations (FFO) of $3.68 per share, beating the Zacks Consensus Estimate of $3.40 per share. This compares to FFO of $3.69 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of 8.24%. A quarter ago, it was expected that this shopping mall real estate investment trust would post FFO of $3 per share when it actually produced FFO of $2.84, delivering a surprise of -5.33%.Over the last ...

4Q 2024 SUPPLEMENTAL SIMON PROPERTY GROUP EARNINGS RELEASE & SUPPLEMENTAL INFORMATION UNAUDITED FOURTH QUARTER TABLE OF CONTENTS | GS | AS | SU | FO | IO | EA | RN | IN | RE | LE | E | AN | D | PP | LE | ME | NT | AL | IN | RM | AT | N | FO | QU | CE | 20 | 24 | GE | R | TH | E | AR | TE | R | EN | DE | D | DE | MB | ER | 31 | PA | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ...

Financial Performance - Net income attributable to common stockholders for Q4 2024 was $667.2 million, or $2.04 per diluted share, compared to $747.5 million, or $2.29 per diluted share in Q4 2023[8]. - For the full year 2024, net income attributable to common stockholders was $2.368 billion, or $7.26 per diluted share, an increase from $2.280 billion, or $6.98 per diluted share in 2023[8]. - Total revenue for Q4 2024 was $1,582,232, an increase of 3.5% compared to $1,527,438 in Q4 2023[25]. - Consolidated net income for the year reached $2,729,021, up from $2,617,018, marking a year-over-year increase of 4.3%[45]. - Basic and diluted earnings per common share decreased to $2.04 from $2.29, reflecting a decline of 10.9% year-over-year[45]. Funds From Operations (FFO) - Funds From Operations (FFO) for 2024 was $4.877 billion, or $12.99 per diluted share, up from $4.686 billion, or $12.51 per diluted share in 2023[8]. - FFO of the Operating Partnership for the twelve months ended December 31, 2024, was $4,876,844, with non-cash impacts resulting in an adjusted FFO of $4,963,581[54]. - Funds From Operations (FFO) for Q4 2024 was $1,388,748, slightly up from $1,381,963 in Q4 2023, with a total of $4,876,844 for the twelve months, compared to $4,685,866 in the previous year[35]. Real Estate Performance - Real Estate FFO for 2024 was $4.597 billion, or $12.24 per diluted share, reflecting a year-over-year increase of 3.9%[8]. - Domestic property Net Operating Income (NOI) increased by 4.7% in 2024, while portfolio NOI increased by 4.6% compared to the previous year[8]. - Real Estate Funds from Operations (Real Estate FFO) for the operating partnership was $1,261,481, a 4.4% increase from $1,208,096 in the same quarter last year[45]. Occupancy and Leasing - Occupancy rate as of December 31, 2024, was 96.5%, a 0.7% increase from 95.8% at the end of 2023[14]. - The company executed over 21 million square feet of leases and opened a fully-leased new Premium Outlet in the U.S. in 2024[6]. - Total lease income for the three months ended December 31, 2024, was $1,431,524, representing an increase from $1,362,455 in the same period of 2023[57]. Dividends and Shareholder Returns - The Board of Directors declared a quarterly common stock dividend of $2.10 for Q1 2025, representing a 7.7% year-over-year increase[13]. - The company estimates net income for 2025 to be in the range of $6.95 to $7.20 per diluted share, with Real Estate FFO and FFO expected to be between $12.40 and $12.65 per diluted share[15]. Assets and Liabilities - Total assets as of December 31, 2024, were $32,405,691, a decrease from $34,283,495 in 2023[27]. - Total liabilities decreased to $28,806,239 in 2024 from $30,595,897 in 2023[27]. - Cash and cash equivalents increased to $1,400,345 in 2024 from $1,168,991 in 2023[27]. Debt and Financial Health - The company maintained a Fixed Charge Coverage Ratio of 4.5X, well above the required minimum of 1.5X[43]. - Total debt to total assets ratio stood at 38%, significantly below the maximum limit of 65%, indicating strong financial health[43]. - Consolidated indebtedness totals $30,354,656, with a weighted average interest rate of 3.86%[85]. Capital Expenditures and Investments - Total capital expenditures for the twelve months ended December 31, 2024, amounted to $755.584 million, a decrease from $793.283 million in the previous year[71]. - The company has a total net cash investment of $1,078.416 million forecasted for FY 2024-2026, with a stabilized return rate of 8% for redevelopments[74]. - The company’s total investment in redevelopment projects is projected to be $1,284.453 million, with $393.354 million expected in FY 2024[74]. International Presence - Total international square footage reached 11,898,100 square feet as of December 31, 2024[102]. - The company has properties in 11 countries, including Austria, Canada, France, Germany, Italy, Japan, Korea, Malaysia, Mexico, Netherlands, Spain, Thailand, and the United Kingdom[102]. - The company plans to expand its presence in Mexico with the Premium Outlets Querétaro, which has a fixed interest rate of 12.14%[102].

INDIANAPOLIS, Feb. 4, 2025 /PRNewswire/ -- Simon®, a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations, today reported results for the quarter and twelve months ended December 31, 2024."I am extremely pleased with our fourth quarter results, concluding another successful and productive year for our Company," said David Simon, Chairman, Chief Executive Officer and President. "In 2024, we generated record Funds From Operations of nearly ...