simon property group inc (SPG) Key Developments
Simon Property Group Inc. Declares Quarterly Common Stock Dividend, Payable on May 29, 2015
Apr 24 15
Simon Property Group Inc.'s board declared a quarterly common stock dividend of $1.50 per share, up $0.10, or 7.1%, from the previous quarter. The dividend will be payable on May 29 to stockholders of record on May 15.
Simon Property Group Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Full Year 2015
Apr 24 15
Simon Property Group Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the period, the company net income attributable to common stockholders was $362.2 million, or $1.16 per diluted share, as compared to $341.6 million, or $1.10 per diluted share, in the prior year period. On a comparable basis, net income per diluted share was $1.16 in the first quarter of 2015 as compared to $0.99 in the first quarter of 2014. Funds from operations were $830.7 million, or $2.28 per diluted share, as compared to $865.3 million, or $2.38 per diluted share, in the prior year period. On a comparable basis, FFO per diluted share was $2.28 in the first quarter of 2015 as compared to $2.14 in the first quarter of 2014. Total revenue was $1,216,235,000 compared to $1,157,022,000 a year ago. Operating income was $599,171,000 compared to $560,965,000 a year ago. Consolidated income from continuing operations was $425,508,000 compared to $359,601,000 a year ago.
The company is raising both the low and high ends of its previously provided full year 2015 FFO range by $0.05 and currently estimates a range of $9.65 to $9.75 per diluted share for the year ending December 31, 2015, with net income to be within a range of $5.10 to $5.20 per diluted share.
Simon Property Group Inc. Announces the Expansion Plan of Shisui Premium Outlets, in Partnership with Mitsubishi Estate Co., Ltd
Apr 21 15
Simon Property Group Inc. has announced the expansion plan of Shisui Premium Outlets, in partnership with Mitsubishi Estate Co., Ltd. Shisui Premium Outlets initially opened only two years ago, in April, 2013. This first phase of the project opened 100% leased with 121 stores featuring a mix of international brands, Japanese brands and restaurants. The shopping center is located approximately 40 miles from the center of Tokyo and just 15 minutes from Narita International Airport, Japan's international hub airport. The second phase, opening today, adds 62 new stores, including four restaurants, bringing the total store count to 183. The expansion adds 136,000 square feet of stores bringing the total project to 375,000 square feet. Nine brands will open their first outlet stores in Japan including casual outdoors brand Chums, popular for its refined, colorful designs; daily wear brand Traditional Weatherwear, offering a rich selection of basic items by British Mackintosh; and Swedish-born Nudie Jeans.
Sears Holdings Corporation and Simon Property Group Inc. Form Joint Venture to Unlock Real Estate Value
Apr 13 15
Sears Holdings (SHLD) and real estate investment trust Simon Property Group (SPG) announced they have formed a joint venture to unlock additional value for Sears' portfolio of real estate holdings. With the joint venture, Sears will continue to operate its existing stores at its contributed properties through lease arrangements, while providing the ability to create additional value through re-developing and re-leasing of the properties to third-party tenants.
Simon Property Group Inc. Presents at ReitWise 2015, Apr-01-2015 02:45 PM
Mar 28 15
Simon Property Group Inc. Presents at ReitWise 2015, Apr-01-2015 02:45 PM. Venue: JW Marriott Desert Ridge Resort & Spa, Phoenix, Arizona, United States. Speakers: Steven K. Broadwater, Chief Accounting Officer and Senior Vice President.