Property Ownership and Acquisitions - As of December 31, 2025, Simon Property Group owned or held interests in 212 income-producing properties in the U.S., including 108 malls and 70 Premium Outlets[27]. - Simon Property Group acquired the remaining 12% interest in The Taubman Realty Group on October 31, 2025, completing the TRG Acquisition[28]. - The company holds a 22.2% equity stake in Klépierre SA, a publicly traded real estate company in Europe[27]. - Simon increased its ownership interest in TRG from 80% to 100% by issuing a total of 8,278,193 units in the Operating Partnership[56]. - The company owns interests in 110 income-producing properties with other parties, of which 22 properties are included in its consolidated financial statements[131]. - The company has a 100% interest in two luxury outlet destinations in Italy, The Mall Luxury Outlets Firenze and The Mall Luxury Outlets Sanremo[200]. - The company has significant lease expirations scheduled through 2036, with 680 leases expiring, covering 3,408,311 square feet, and an average base minimum rent of $69.85 per square foot, contributing 2.9% to annual rental revenues[195]. Financial Structure and Debt - The Operating Partnership has a $5.0 billion unsecured revolving credit facility and a $3.5 billion supplemental unsecured revolving credit facility, with covenants limiting total debt to 65% of total assets[33]. - The Credit Facility can be increased by up to $1.0 billion, bringing the total to $6.0 billion, with an initial maturity date of June 30, 2027[36]. - Borrowings under the Credit Facility bear interest based on the corporate credit rating, currently at SOFR plus 70.0 basis points[37]. - The Supplemental Facility's initial borrowing capacity of $3.5 billion may be increased to $4.5 billion, with an initial maturity date of January 31, 2029[38]. - As of December 31, 2025, the company's consolidated mortgages and unsecured indebtedness totaled $28.6 billion, which significantly limits cash flow available for business growth[123]. - The total amount of unsecured notes is $8,250,000,000, with various maturities and interest rates ranging from 1.13% to 6.98%[223]. - The interest rate for the Revolving Credit Facility is 4.12% with a face value of $460,000,000 and annual debt service of $18,973,000, maturing on 06/30/28[223]. Operational Performance and Risks - The retail real estate industry is highly competitive, with Simon facing competition from various merchandise distribution channels and internet retailing[49]. - The company faces risks from tenant bankruptcies, vacant spaces, and competition from e-commerce, which could materially affect its operations[71]. - The company derives a significant portion of its lease income from overage rents based on tenant sales, making it vulnerable to declines in tenant performance[74]. - Macroeconomic conditions, including inflation and geopolitical events, could adversely impact consumer spending and retail demand[75]. - The company may experience difficulties in leasing new or redeveloped properties, affecting occupancy levels and rental rates[82]. - Increased competition from e-commerce and changing consumer preferences could negatively impact physical retail operations[84]. - Tenant bankruptcies could lead to lease terminations, impacting rental income and necessitating costly re-tenanting efforts[79]. Sustainability and Environmental Impact - Simon Property Group aims to reduce scope 1 and scope 2 greenhouse gas emissions by 68% from a 2019 baseline by 2035[213]. - The company has achieved a 20% reduction in water usage from a 2013 baseline and set a new target to reduce water for comparable centers by 15% by 2030, with a base year of 2022[214]. - The Governance and Nominating Committee of the Board oversees sustainability policies, while the Audit Committee manages annual disclosures of sustainability programs[215]. - Simon Property Group was awarded a Green Star rating for sustainability performance from 2014 to 2025[216]. Cybersecurity and Regulatory Compliance - The company has developed a cybersecurity risk management program to protect critical systems and information, integrating it with the overall enterprise risk management program[151]. - The Audit Committee oversees the cybersecurity risk management program and receives regular updates on cybersecurity risks and incidents[152]. - The company has not identified any known cybersecurity threats that have materially affected its operations or financial condition[151]. - The regulatory environment surrounding information security and privacy is increasingly demanding, with potential for governmental investigations and penalties[143]. Tenant and Lease Information - As of December 31, 2025, there are 3,156 leases expiring in U.S. malls and Premium Outlets, covering 10,840,848 square feet, with an average base minimum rent of $55.63 per square foot, contributing 8.7% to annual rental revenues[195]. - The inline stores and freestanding month-to-month leases total 957, covering 3,221,378 square feet, with an average base minimum rent of $63.60 per square foot, accounting for 3.0% of annual rental revenues[195]. - The average base minimum rent for leases expiring in 2030 is $75.60 per square foot, representing 7.1% of annual rental revenues[195]. International Operations - International activities accounted for approximately 2.3% of consolidated net income and 9.7% of net operating income (NOI) for the year ended December 31, 2025[146]. - The company holds a 50% interest in five operating joint venture properties in South Korea, with similar stakes in properties across Japan, Mexico, Malaysia, Thailand, Indonesia, and Canada[201]. - The total gross leasable area for the international properties is summarized in the property tables, which do not include equity investment in Klépierre[202]. - The ten Japanese Premium Outlets comprise over 3.9 million square feet of GLA and were 99.9% leased as of December 31, 2025[201].

Simon Property Group ( SPG ) has long been one of my favorite REITs. This has been despite the idea that malls are dead. For the last several years, REITs have also been considered dead money.Formerly known as "The Dividend Collectuh." Top 1% of financial experts on TipRanks. Contributing analyst to the iREIT+Hoya Capital investment group. Dividend Collection Agency is not a registered investment professional nor financial advisor and these articles should not be taken as financial advice. This is for educa ...

 VANCOUVER, BC – TheNewswire -  February 18, 2026 – Viva Gold Corp (TSXV: VAU; OTCQB: VAUCF) (the “Company” or “Viva”) is pleased to report that it has commenced a comprehensive Technical Study for its 100%-owned Tonopah Gold Project (“Tonopah,” or “Project”) located near the town of Tonopah, Nevada. The study is expected to be completed to a Pre-Feasibility (“PFS”) level, with certain components of the study anticipated to meet Feasibility-level standards. Advancing Tonopah into this next phase represents ...

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分组1 - The article discusses changes in Q4 for Simon Property Group, Inc. (SPG), focusing on financial and credit metrics [1] - It highlights the role of Denislav Iliev, who has over 15 years of day trading experience and leads a team of 40 analysts [1] - The investing group Trade With Beta is mentioned, which identifies mispriced investments in fixed-income and closed-end funds [1] 分组2 - Features of the Trade With Beta service include frequent picks for mispriced preferred stocks and baby bonds, weekly reviews of over 1200 equities, IPO previews, and hedging strategies [1]

Core Viewpoint - The article emphasizes a personal investment strategy focused on growth and dividend income, aiming for an easy retirement through a portfolio that generates monthly dividend income and benefits from reinvestment and annual increases [1]. Group 1: Investment Strategy - The strategy involves creating a portfolio that prioritizes compounding dividend income and growth [1]. - Monthly dividend income is a key component of the portfolio structure, which is designed to grow through reinvestment [1]. Group 2: Company Positions - The author has a beneficial long position in the shares of specific companies, including SPG, O, and NNN, through various means such as stock ownership and options [1].

Core Viewpoint - The article emphasizes a personal investment strategy focused on growth and dividend income, aiming for an easy retirement through a portfolio that generates monthly dividend income and benefits from reinvestment and annual increases [1]. Group 1: Investment Strategy - The strategy involves creating a portfolio that prioritizes compounding dividend income and growth [1]. - Monthly dividend income is a key component of the portfolio, which is structured to grow through reinvestment and yearly increases [1]. Group 2: Company Positions - The author has a beneficial long position in the shares of specific companies, including SPG, O, and NNN, through various means such as stock ownership and options [1].

Core Viewpoint - The company Simon has authorized a new common stock repurchase program allowing for the purchase of up to $2.0 billion of its common stock through February 29, 2028, replacing the previous program that had approximately $1.7 billion remaining available [1] Company Summary - Simon is a real estate investment trust (REIT) focused on owning premier shopping, dining, entertainment, and mixed-use destinations, and is part of the S&P 100 [3] - The company operates properties across North America, Europe, and Asia, serving as community gathering places and generating billions in annual sales [3] Stock Repurchase Program - The new stock repurchase program allows for purchases in the open market or through privately negotiated transactions, subject to market conditions and applicable laws [1] - The program does not obligate the company to repurchase any specific dollar amount or number of shares and can be suspended or discontinued at any time [1]

Core Insights - Simon Property Group has appointed Martin J. Cicco to its Board of Directors, enhancing its leadership with his extensive experience in real estate and capital markets [1][2]. Group 1: Appointment Details - Martin J. Cicco brings over 45 years of experience in real estate and capital markets, having previously initiated Evercore Partners' Real Estate Strategic Advisory practice and served as Vice Chairman at Merrill Lynch [2]. - Cicco's background includes advisory roles at prestigious institutions such as Columbia Business School and the University of Wisconsin, as well as active membership in industry organizations [2]. Group 2: Board Perspectives - Larry Glasscock, Lead Independent Director, expressed enthusiasm about Cicco's appointment, highlighting his deep knowledge of real estate finance as a valuable asset for Simon [3]. - David Simon, Chairman and CEO, noted that Cicco's sophisticated perspective will strengthen the Board and support the company's focus on long-term shareholder value [3]. Group 3: Company Overview - Simon Property Group is a real estate investment trust that owns premier shopping, dining, entertainment, and mixed-use destinations, classified as an S&P 100 company [4]. - The company's properties across North America, Europe, and Asia serve as community gathering places and generate billions in annual sales [4].

Core Insights - Simon Property Group, Inc. (SPG) reported a fourth-quarter 2025 real estate funds from operations (FFO) per share of $3.49, exceeding the Zacks Consensus Estimate of $3.47 and up from $3.35 in the prior-year period [1][9] - The company generated revenues of $1.79 billion in the quarter, surpassing the Zacks Consensus Estimate of $1.63 billion, reflecting a 13.2% year-over-year increase [2] - SPG's guidance for 2026 real estate FFO per share is projected between $13.00 and $13.25, aligning with the Zacks Consensus Estimate of $13.02 [6] Revenue and Occupancy - Revenues from lease income reached $1.64 billion, a 14.5% increase compared to the prior-year period [3] - The occupancy rate for the U.S. Malls and Premium Outlets portfolio was 96.4% as of December 31, 2025, slightly down from 96.5% a year earlier [3] - The base minimum rent per square foot for the U.S. Malls and Premium Outlets portfolio rose to $60.97, an increase of 4.7% from $58.26 as of December 31, 2024 [3] Financial Performance - Domestic property net operating income (NOI) increased by 4.8% year over year, while portfolio NOI rose by 5.1% [4] - For the full year 2025, SPG reported real estate FFO per share of $12.73, exceeding the Zacks Consensus Estimate of $12.68 and improving by 4% over the prior-year quarter [2] Balance Sheet and Liquidity - As of the end of the fourth quarter 2025, SPG had $9.1 billion in liquidity, which included $1.4 billion in cash and $7.7 billion in available capacity under revolving credit facilities [5] Dividend Announcement - Concurrent with its fourth-quarter earnings release, SPG announced a quarterly common stock dividend of $2.20 for the first quarter of 2026, payable on March 31 to shareholders of record as of March 10, 2026 [7] Market Position - SPG currently holds a Zacks Rank 2 (Buy), indicating a favorable outlook in the market [8]