Core Viewpoint - Simon Property Group (SPG) is positioned to benefit from its premium retail asset portfolio, with strong demand expected to drive leasing activity, occupancy levels, and rent growth [1] Group 1: Performance Metrics - In early December, SPG reported a 6.4% year-over-year increase in traffic during the Black Friday weekend, with malls experiencing a 7.1% surge [2] - For the first nine months of 2024, SPG signed 877 new leases and 1,750 renewal leases, with an ending occupancy rate of 96.2%, up from 95.2% a year prior [3] - The company expects total revenues to increase by 4.6% year-over-year in 2024 [3] Group 2: Dividend and Financial Health - SPG increased its dividend payment to $2.10 per share, marking a 2.4% hike from the previous payment, and has raised its dividend 12 times in the past five years [4] - As of September 30, 2024, SPG had $11.1 billion in liquidity, with a total secured debt to total assets ratio of 17% and a fixed-charge coverage ratio of 4.3 [11] Group 3: Strategic Initiatives - The company is focusing on premium acquisitions and transformative redevelopments, investing billions to enhance its portfolio [10] - SPG's omnichannel strategy and partnerships with premium retailers are expected to contribute positively to long-term growth [16] Group 4: Market Challenges - SPG faces a substantial debt burden of approximately $31.66 billion as of September 30, 2024, with interest expenses projected to rise by 6% in 2024 [5][8] - The convenience of online shopping continues to pose a challenge to brick-and-mortar retail, potentially impacting SPG's market share [13]

Group 1 - SP Group initiated a share buy-back programme on 26 August 2024, with a maximum purchase amount of DKK 40.0 million, running until 10 April 2025 [1] - The share buy-back programme complies with the EU Commission Regulation No. 596/2014 regarding Market Abuse, which protects listed companies' boards against insider legislation violations [2]

Financial Calendar Overview - The financial calendar for SP Group in 2025 includes key dates for financial disclosures and shareholder meetings [1] - The disclosure of financial statements for the year 2024 is scheduled for 31 March 2025 [1] - The Annual General Meeting will take place on 24 April 2025 [1] - Shareholders will have access to the dividend for 2024 on 29 April 2025 [1] Interim Reports Schedule - The first interim report for the first three months of 2025 will be disclosed on 22 May 2025 [1] - The interim report for the first half of 2025 is set for disclosure on 19 August 2025 [1] - The interim report for the first nine months of 2025 will be disclosed on 18 November 2025 [1]

Group 1 - Simon Property Group (NYSE: SPG) has experienced a strong performance, with a year-to-date increase of 39.27%, indicating potential for long-term investors [1] Group 2 - The article emphasizes the importance of conducting personal due diligence before making investment decisions, highlighting the author's background in dividend investing and focus on quality stocks [2] - The author expresses a commitment to helping lower and middle-class workers build investment portfolios of high-quality, dividend-paying companies [2] Group 3 - The article does not provide specific investment recommendations or advice, and past performance is not indicative of future results [4] - The author has disclosed a beneficial long position in certain stocks, indicating a personal investment interest [3]

Retirement is complicated and you only get once chance to do it right. Don't miss out because you didn't know what was out there. The Retirement Forum provides actionable ideals, a high-yield safe retirement portfolio, and macroeconomic outlooks, all to help you maximize your capital and your income. We search the entire market to help you maximize returns. Simon Property Group, Inc. (NYSE: SPG ) is one of the largest American REITs with a market capitalization of almost $60 billion and a yield of almost 5% ...

Simon Property Group (SPG) has kicked off the 2024 holiday shopping season with impressive momentum. Reporting a 6.4% year-over-year increase in traffic across its nationwide portfolio during the Black Friday weekend, Simon’s performance reflects the enduring appeal of brick-and-mortar retail in a digitally dominated era.Malls led the charge, with a notable 7.1% traffic surge, underscoring their central role in Simon’s strategy. Preliminary data highlights that traffic growth was consistent across its Malls ...

Preliminary data indicates strong traffic across Simon's Malls, Premium Outlets and Mills centers for the first holiday shopping weekend of the seasonINDIANAPOLIS, Dec. 2, 2024 /PRNewswire/ -- Simon®, a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations, saw a remarkably strong start to the holiday shopping season on Black Friday that continued throughout the weekend, including a 6.4% increase in year-over-year traffic at its centers a ...

OSAGE BEACH, Mo., Nov. 22, 2024 /PRNewswire/ -- Sky Real Estate is excited to announce its acquisition of the Osage Beach Outlet Marketplace from a subsidiary of Simon Property Group, Inc (NYSE: SPG). The 391,000-square-foot shopping center, located on a 60-acre parcel along Osage Beach Parkway, has been a cornerstone of the Lake of the Ozarks region for decades.The outlet center features key tenants such as Polo Ralph Lauren, Under Armour, Bath & Body Works, and LOFT. Sky Real Estate looks forward to conti ...

Fundamental Changes to the Mall Landscape - Malls are regaining popularity, especially among Gen Z, who value face-to-face interaction and view malls as social spaces rather than inconveniences [2][3] - Gen Z's preference for malls is supported by retailers like Shein and Skims, which believe in the mall product and are targeting younger consumers [4] - Occupancy rates at Simon Property Group (SPG) malls increased to 96.2% in Q3 2024, up from 95.2% in Q3 2023, indicating strong demand [4] - Base minimum rent per square foot rose to $57.71 in Q3 2024, a 2.3% increase from $56.41 in Q3 2023, reflecting higher demand for premium mall space [4] - Two major changes have improved mall fundamentals: significant reduction in mall space supply through demolition/conversion and increased demand for retail space [5] SPG's Financials, Earnings, and Leasing - SPG signed approximately 1,200 leases for 4 million square feet in Q3 2024, with 3,900 leases signed year-to-date for 15 million square feet, expected to generate over $1 billion in revenue [6] - Retailer sales per square foot reached $737 for malls and premium outlets combined, indicating strong tenant performance [6] - Tenant occupancy cost, a measure of lease affordability relative to retailer income, is at a healthy 12.8%, signaling a normalized leasing environment [7] - SPG's net operating income (NOI) has fully recovered to pre-COVID levels, with dividends also rebounding to $2.10 per quarter as of Q3 2024 [8][9] - SPG's 2024 FFO and AFFO are projected at $12.80 and $11.39, respectively, surpassing 2019 levels of $12.04 and $10.83 [9] Valuation and Market Position - SPG is trading at a discounted valuation of 13X trailing FFO, compared to its historical average of 20X, despite strong fundamentals and growth prospects [10][13] - The S&P 500's trailing earnings multiple has risen from 20X to 29X over the past decade, while SPG's multiple has declined, creating a valuation gap [11][13] - SPG's real estate-derived FFO grew by 4.8% in Q3 2024 and 4.1% year-to-date, with a projected long-term growth rate of 4%-5% [19] - A fair value multiple of 18X real estate FFO suggests a target price of $214, representing 23% upside from current levels [20] Industry Leadership and Competitive Advantages - SPG is an industry leader with a track record of AFFO/share growth, a large market capitalization, and an investment-grade balance sheet (A-) [10] - The company has a well-diversified portfolio geographically, by tenant industry, and by product price point, enhancing its resilience to economic downturns [17] - SPG's leasing momentum is strong, with favorable lease terms including fewer co-tenancy clauses, fewer tenant renewal options, long lease terms, and escalators [6]

Shares of Simon Property (SPG) have rallied 16.9% over the past three months, outperforming the industry's 7.1% growth. The retail real estate investment trust's (REIT) portfolio of premium retail assets in the United States and abroad, the adoption of omnichannel retailing, a focus on strategic acquisitions and mixed-use developments and solid balance sheet strength have enabled it to ride the growth curve so far. In early November, SPG reported third-quarter funds from operations (FFO) per share of $2.84, ...