Simon Prop Grp Stock Price, News & Analysis

Life Time Buckhead at Phipps Plaza opened on December 8, 2022, as a new 127,000-square-foot destination in Atlanta, featuring a five-story athletic country club and Life Time Work coworking space. This facility includes Atlanta's first rooftop beach club, offering various health and wellness amenities for all ages. With over 145 weekly fitness classes, personal training services, and a dedicated recovery space, this location highlights Life Time's commitment to enhancing lifestyle through fitness and work. This is Life Time's seventh location in the Atlanta area.

Simon Property Group was honored with Nareit's 2022 Retail Leader in the Light Award for exceptional sustainability practices. The award is derived from the Global Real Estate Sustainability Benchmark (GRESB) Annual Survey and evaluations by external judges. CFO Brian McDade emphasized Simon's commitment to sustainable retail platforms that benefit shoppers, employees, and retailers. Simon operates premier shopping and mixed-use properties across North America, Europe, and Asia, contributing significantly to community engagement and generating billions in annual sales.

Simon announces a partnership with Leap to open multiple retail stores at Simon properties, targeting digitally native brands' expansion into brick-and-mortar retail. Four stores are set to launch in California and Florida, including True Classic Tees and ThirdLove. This collaboration aims to enhance omni-channel retailing, enabling brands to reach millions of consumers annually. Simon operates over 250 retail destinations globally, while Leap powers 60 brands across nearly 100 stores.

On November 10, 2022, Simon announced it will not open most of its domestic properties on Thanksgiving Day. The company plans to resume regular operations on Black Friday. More details regarding individual property hours will be available on their official website. Simon, known as a leader in real estate investment trusts, operates premier shopping and entertainment destinations across North America, Europe, and Asia, generating substantial annual sales.

On November 3, 2022, Simon and Mitsubishi Estate Simon celebrated the opening of the Fukaya-Hanazono Premium Outlets, the first new outlet center in Japan in a decade. Located 45 miles northwest of Tokyo, this center features 137 brand-name stores across 296,000 square feet. Notably, it includes the first outlet locations for Korg and Ping in the world and Japan, respectively. The center emphasizes sustainability with solar energy and a unique architectural design. This opening plays a crucial role in Simon's strategy for international growth.

This holiday season, Santa’s Flight Academy is returning to 11 Taubman shopping centers across the U.S., featuring an immersive photo experience for children, which encourages them to participate in various festive activities. The program is designed in collaboration with Cherry Hill Programs and aims to enhance the holiday spirit with activities like a dance party in Santa's sleigh. Opening dates commence on November 10, varying by location, with a pre-paid photo package reservation encouraged for interested families.

Simon, a leading real estate investment trust, reported strong financial performance for Q3 2022, with net income of $539 million, or $1.65 per diluted share, though down from $679.9 million in Q3 2021. Comparable Funds From Operations (FFO) increased to $1.113 billion, or $2.97 per diluted share. The company raised its full-year 2022 guidance and announced a quarterly dividend of $1.80, a 9.1% year-over-year increase. Occupancy rose to 94.5%. Simon's liquidity stands at $8.6 billion. Projects in Japan and South Korea are ongoing, indicating growth in international markets.

Simon Property Group (NYSE: SPG) and Tmall Global are collaborating to enhance shopping experiences for Chinese consumers by using livestream events. Starting in October, shoppers in China can explore Woodbury Common Premium Outlets inventory as they prepare for the 11.11 Global Shopping Festival. This partnership aims to provide real-time access to premium products and facilitate direct purchases from participating brands. The initiative reflects Simon's commitment to innovation and omni-channel retailing.