simon property group inc (SPG) Key Developments
Simon Property Group Inc. Presents at REITWorld 2015: NAREIT's Annual Convention, Nov-17-2015
Nov 6 15
Simon Property Group Inc. Presents at REITWorld 2015: NAREIT's Annual Convention, Nov-17-2015 . Venue: Wynn Las Vegas, 3131 S Las Vegas Blvd, Las Vegas, NV 89109, United States.
Simon Announces Opening of Tampa Premium Outlets
Oct 29 15
Simon announced that Tampa Premium Outlets opened on October 29, 2015. The highly-anticipated 441,000 square-foot shopping center will bring the recognized and popular brand of upscale outlet shopping to the greater Tampa area. Featuring popular designer and name brands, Tampa Premium Outlets will house an enviable collection of more than 110 retailers offering savings of 25% to 65% every day. Some of the well-known brands include: Saks Fifth Avenue OFF 5TH, Banana Republic Factory Store, Brooks Brothers Factory Store, Coach, Cole Haan, ECCO, Skechers, Nike Factory Store, Samsonite and more. Tampa Premium Outlets will offer 441,000 square feet of retail and dining, conveniently located at the intersection of I-75 and State Road 56.
Simon Property Group Declares Quarterly Common Stock Dividend and Preferred Stock Dividend, Payable on November 30, 2015 and December 31, 2015, Respectively
Oct 27 15
Simon announced that, its Board of Directors declared a quarterly common stock dividend of $1.60 per share. This is a 23.1% increase year-over-year. The dividend will be payable on November 30, 2015 to stockholders of record on November 16, 2015.
The Board of Directors also declared the quarterly dividend on its 8 3/8% Series J cumulative redeemable preferred stock of $1.046875 per share, payable on December 31, 2015 to stockholders of record on December 17, 2015.
Simon Property Group Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015; Raises Earnings Guidance for the Year 2015
Oct 27 15
Simon Property Group Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, the company reported total revenue of $1,320,137,000 compared to $1,234,694,000 a year ago. Operating income was $657,587,000 compared to $607,557,000 a year ago. Net income attributable to common stockholders was $420,009,000 or $1.36 per basic and diluted share compared to $251,968,000 or $0.81 per basic and diluted share a year ago. FFO of the operating partnership was $918,686,000 or $2.54 per diluted share compared to $689,381,000 or $1.90 per diluted share a year ago.
For the nine months period, the company reported total revenue of $3,885,482,000 compared to $3,573,698,000 a year ago. Operating income was $1,959,143,000 compared to $1,730,054,000 a year ago. Net income attributable to common stockholders was $1,255,126,000 or $4.04 per basic and diluted share compared to $1,000,203,000 or $3.22 per basic and diluted share a year ago. FFO of the operating partnership was $2,704,773,000 or $7.46 per diluted share compared to $2,338,550,000 or $6.43 per diluted share a year ago.
The company is raising both the low and high ends of its previously provided full year 2015 FFO range and currently estimates a range of $10.10 to $10.15 per diluted share for the year ending December 31, 2015, this compares to its original FFO guidance of $9.60 to $9.70 per share or approximately $0.48 higher from their respective midpoints, with net income to be within a range of $5.50 to $5.55 per diluted share.
Simon Property Group Expands Light Sensory Network Deployments Nationwide
Oct 21 15
Sensity Systems Inc. announced that Simon Property Group is expanding its NetSense Light Sensory Network deployments to multiple retail properties across the United States. Ranked among the large shopping mall owners in the country, Simon plans to go well beyond energy efficiency with Sensity LSNs. They are currently deploying the NetSense platform in their parking lots and garages for advanced lighting control. Smart parking, public safety and other operational applications will be implemented in the future to help the mall operator reach their strategic business goals and deliver superior shopping experiences at their properties nationwide. The NetSense Light Sensory Network is a new, innovative networking platform that capitalizes on the widespread move toward LED lighting for outdoor uses. Transforming LED light fixtures into sensor-equipped, smart devices capable of capturing and transmitting data in real time, Sensity provides retail customers with an opportunity to deliver a broad array of applications and services, such as: Real-time parking availability information; A hassle-free parking experience improves the overall shopper experience at a brick-and-mortar store. NetSense helps shoppers by providing real-time parking availability information throughout the parking lots and garages of a retail property. Increased public safety and security With video-based security and real-time video analytics, NetSense offers not only a cost-effective solution to increase the safety of shopping patrons, but also pro-active information with which to respond to incidents. For example, video analytics capabilities include the detection of loitering, entering forbidden areas and other potential public safety events. Operational efficiencies (lighting control and traffic monitoring); NetSense enables real-time control, management, and maintenance support for all lighting fixtures (all outdoor, large indoor) across a mall property. Features include activity-based dimming, daylight harvesting, fault detection, and verification of energy savings. In addition, applications under development include snow-level detection, parking resurfacing monitoring and vehicle traffic analytics. These applications will help mall operators deploy and adjust resources in an optimal way based on real-time input.