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Simon Property Group inc   (SPG)
Other Ticker:  
 
    Sector  Services    Industry Real Estate Operations
   Industry Real Estate Operations
   Sector  Services
 
Price: $119.3400 $0.33 0.277%
Day's High: $120.03 Week Perf: 3.09 %
Day's Low: $ 117.50 30 Day Perf: 6.93 %
Volume (M): 1,738 52 Wk High: $ 165.83
Volume (M$): $ 207,449 52 Wk Avg: $120.26
Open: $117.61 52 Wk Low: $86.02



 Market Capitalization (Millions $) 38,987
 Shares Outstanding (Millions) 327
 Employees 4,500
 Revenues (TTM) (Millions $) 5,218
 Net Income (TTM) (Millions $) 2,253
 Cash Flow (TTM) (Millions $) 96
 Capital Exp. (TTM) (Millions $) 108

Simon Property Group Inc
We are engaged primarily in the ownership, operation, leasing, management, acquisition, expansion and development of real estate properties. Our real estate properties consist primarily of regional malls and community shopping centers. We owned or held an interest in 245 income-producing properties in North America, which consisted of 174 regional malls, 67 community shopping centers, and four office and mixed-use properties in 37 states and Canada. Mixed-use properties are properties that include a combination of retail space, office space, and/or hotel components. In addition, we also own interests in three parcels of land held for future development. Finally, we have ownership interests in 47 assets in Europe (France, Italy, Poland and Portugal).

Our primary business objectives are to increase Funds From Operations ("FFO") per share, operating results and the value of our Properties while maintaining a stable balance sheet consistent with our financing policies. We intend to achieve these objectives by:

pursuing a leasing strategy that capitalizes on the desirable location of our Properties;

improving the performance of our Properties by using the economies of scale that result from our size to help control operating costs and by generating additional revenues through merchandising, marketing and promotional activities;

renovating and/or expanding our Properties where appropriate;

developing new shopping centers which meet our economic criteria; and

acquiring additional shopping centers and the portfolios of other retail real estate companies that meet our investment criteria.

We develop and acquire properties to generate both current income and long-term appreciation in value. We do not have a policy limiting the amount or percentage of assets that may be invested in any particular property or type of property or in any geographic area. We may purchase or lease properties for long-term investment or develop, redevelop, and/or sell our Properties, in whole or in part, when circumstances warrant. We participate with other entities in property ownership, through joint ventures or other types of co-ownership. These equity investments may be subject to existing mortgage financing and other indebtedness that have priority over our equity interest.

We may also invest in securities of other entities engaged in real estate activities or securities of other issuers. However, any of these investments would be subject to the percentage ownership limitations and gross income tests necessary for Simon Property's REIT qualification under the Code. These REIT limitations mean that we cannot make an investment that would cause Simon Property's real estate assets to be less than 75% of its total assets. In addition, Simon Property must derive at least 75% of its gross income from "rents from real estate" and at least 95% must be derived from rents from real estate, interest, dividends and gains from the sale or disposition of stock or securities.

We plan to achieve our primary business objectives through a variety of methods discussed below, although we cannot assure you that we will achieve such objectives.

Leasing. We pursue a leasing strategy that includes:

marketing available space to maintain or increase occupancy levels;

renewing existing leases and originating new leases at higher base rents per square foot;

negotiating leases that allow us to recover from our tenants for the majority of our property operating, real estate tax, repairs and maintenance, and advertising

and promotion expenditures; and

executing leases that provide for percentage or overage rents and/or regular or periodic fixed contractual increases in base rents.

Management. We draw upon our expertise gained through management of a geographically diverse Portfolio, nationally recognized as comprising high quality retail and mixed-use Properties. In doing so, we seek to maximize cash flow through a combination of:

an active merchandising program to maintain our shopping centers as inviting shopping destinations;

efforts to minimize overhead and operating costs which not only benefits our operations but also reduces the costs reimbursed to us from our tenants. A tenant's ability to pay rent is affected by the percentage of its sales represented by occupancy costs, which consist of rent and expense recoveries. As sales levels increase, if expenses subject to recovery are controlled, the tenant can afford to pay higher base rent.

coordinated marketing and promotional activities that establish and maintain customer loyalty; and

systematic planning and monitoring of results.

Other Revenues. Due to our size, tenant and vendor relationships, we also generate revenues from other sources, including:

Simon Brand Venture ("Simon Brand") which obtains revenues from establishing our malls as leading market resource providers for retailers and other businesses and consumer-focused corporate alliances. Simon Brand revenues include payment services, national media contracts, a national beverage contract and other contracts with national companies.

Simon Brand also pursues mall marketing initiatives, including the sale of gift cards. We tested a Simon Visa Gift Card in some of our regional malls in the fall of 2001 and completed the roll-out of our Simon Gift Card program to substantially all our regional malls during 2002 and 2003. The gift card program has replaced our existing paper certificates.

Simon Business Network ("Simon Business") obtains revenues from offering products and property operating services, resulting from its relationships with vendors, to our tenants and others. These services include such items as energy services, facility services, waste handling, vertical transportation, as well as major capital expenditures such as roofing, parking lots and energy systems. The tenant services provided through Simon Business include a national waste management services program, a national total facility service program which includes operational and maintenance services, a national automatic teller machine program, a national security services program, and parking service programs.

Competition

We consider our principal competitors to be seven other major United States or internationally publicly-held, companies that own or operate regional malls in the United States. We also compete with many commercial developers, real estate companies and other owners of retail real estate that operate in our trade areas. Some of our Properties are of the same type and are within the same market area as other competitive properties. The existence of competitive properties could have a material adverse effect on our ability to lease space and on the level of rents we can obtain. This results in competition for both the acquisition of prime sites (including land for development and operating properties) and for tenants to occupy the space that we and our competitors develop and manage. In addition, our malls compete against non-physical based forms of retailing such as catalog companies and e-commerce websites that offer similar retail products.



   Company Address: 225 West Washington Street Indianapolis 46204 IN
   Company Phone Number: 636-1600   Stock Exchange / Ticker: NYSE SPG
   SPG is expected to report next financial results on February 23, 2023.


Customers Net Income fell by SPG's Customers Net Profit Margin fell to

-46.71 %

2.2 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


   

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Simon Property Group Inc 's Segments
 
 
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Simon Property Group Inc 's Operating Statistics Decrease / Increase
       
Premium Outlet Occupancy %   Premium Outlet Occupancy % Decline   
Premium Outlet Average Rent per Sq. Foot $    Premium Outlet Average Rent per Sq. Foot $ Growth   
Premium Outlet Sales per Sq. Foot $    Premium Outlet Sales per Sq. Foot $ Growth   
The Mills Occupancy %    The Mills Occupancy % Growth   
The Mills Average Rent per Sq. Foot $    The Mills Average Rent per Sq. Foot $ Growth   
The Mills Sales per Sq. Foot $    The Mills Sales per Sq. Foot $ Growth   
Community/Lifestyle Occupancy %     
Community/Lifestyle Average Rent per Sq. Foot $     
Community/Lifestyle Sales per Sq. Foot $     


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