![]() ![]() Simon Property Group Inc owns an 80% non-controlling interest in The Taubman Realty Group, LLC, which has interests in 24 regional, super-regional, and outlet malls in the U.S. Over the last several years, it has added more than 4,200 hotel and residential units to its portfolio. In addition to premium retail spaces, the company’s growing real estate portfolio includes offices, hotels, residential properties, and partner outlets. Its properties are anchored by more than 3,000 powerhouse brands, including “Apple,” “Gucci,” “Hugo Boss,” “Microsoft,” and “Tiffany & Co.” (Source: “ Iconic Properties Infinite Opportunities,” Simon Property Group Inc, last accessed June 23, 2023.) (Source: “ Simon 2022 Annual Report,” Simon Property Group Inc, last accessed June 23, 2023.) Today, the company’s diverse portfolio includes more than 250 properties in 37 U.S. In 1993, its portfolio consisted of 114 properties, which were primarily middle-market malls in the U.S. Simon Property Group is a REIT that buys premier shopping, dining, entertainment, and mixed-use destinations across North America, Europe, and Asia. It looks like 2023 will end up being even better. ![]() The company did better in 2022, with consolidated revenues of $5.3 billion, FFO of $4.5 billion, net operating income of $6.1 billion, and net income of $2.1 billion, or $6.52 per share. (Source: “ 2021 Annual Report,” Simon Property Group Inc, last accessed June 23, 2023.) This allowed the company to increase its quarterly dividend by 27%. Its full-year 2021 revenues increased by more than $500.0 million to $5.1 billion, its cash flow increased by $1.3 billion to $3.9 billion, and its FFO climbed by $1.2 billion to $4.5 billion. Thanks to its well-located real estate and top-tier tenants, the REIT bounced back in 2021 with significant occupancy gains and record retail sales. So too have its dividends, share repurchases, and share price. Since then, though, the company’s revenues and FFO have come roaring back. ![]() Unfortunately, Simon Property Group Inc suffered during the pandemic, much like everyone else. It also paid $8.30 per share in cash dividends that year. ![]() In 2019, the last glorious year before the pandemic, the company posted industry-leading record results, including revenues of $5.8 billion, cash flow of $4.0 billion, and funds from operations (FFO) of $4.4 billion. One retail REIT that has fared better than most is Simon Property Group Inc (NYSE:SPG). Not ideal for real estate investment trusts (REITs) that generate their income from rent. Not a big surprise, since quarantine orders kept millions of people at home and shuttered the doors of tens of thousands of businesses. Past performance is a poor indicator of future performance.The retail real estate sector took a big hit during the COVID-19 pandemic. In no event shall Alpha Spread Limited be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on or relating to the use of, or inability to use, or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. Under no circumstances does any information posted on represent a recommendation to buy or sell a security. Is not operated by a broker, a dealer, or a registered investment adviser. ![]()
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