Simon Prop Grp Stock Price, News & Analysis

Simon reported strong financial results for Q4 and the full year 2021, highlighting record Funds From Operations (FFO) of nearly $4.5 billion, a 31.1% increase from 2020. Net income rose to $2.246 billion, or $6.84 per diluted share, up from $1.109 billion in 2020. The company returned approximately $2.7 billion to shareholders and achieved 93.4% occupancy in its U.S. malls. Simon paid a quarterly dividend of $1.65 per share, a 26.9% increase year-over-year. For 2022, net income is projected between $5.90 and $6.10 per share, with FFO estimated between $11.50 and $11.70 per share.

Simon has partnered with Kitchen United to launch the "Grab Go Eat" platform, enabling customers to order from multiple restaurants in one transaction for on-site pickup or home delivery. The service will enhance the dining experience at Simon's Del Amo Fashion Center and Roosevelt Field malls by providing convenience and flexibility. Customers can access the platform through kiosks, the website, or an app, streamlining takeout and delivery operations for participating restaurants. This collaboration reflects a growing demand for off-premise dining options.

Simon Property Group announced its 2021 year-end tax reporting information on January 14, 2022. Key highlights include total distributions per share of $5.85 for common stock (Ticker: SPG) and $4.1875 for preferred stock (Ticker: SPG.PrJ). Taxable ordinary dividends for common stock totaled $5.446994, while qualified dividends were $0.027116. For preferred stock, taxable ordinary dividends were reported at $3.899024. The distributions indicate significant returns for shareholders, reflecting the company’s strong financial position in the real estate investment trust sector.

Simon Property Group (NYSE: SPG) has announced the date for its fourth quarter 2021 earnings release, scheduled for after market close on February 7, 2022. The earnings conference call will take place the same day from 5:00 p.m. to 6:00 p.m. Eastern Time, accessible by dialing 1-877-705-6003 for U.S. participants and 1-201-493-6725 for international participants, with a conference ID of '13725697'. An audio replay will be available post-call until February 14, 2022. Simon operates premier shopping and entertainment destinations globally, generating significant community engagement and revenue.

On January 4, 2022, Simon announced that its subsidiary, Simon Property Group, L.P., will sell a total of $1.2 billion in senior notes, comprising $500 million in Floating Rate Notes due 2024 and $700 million in 2.650% Notes due 2032. The offering is expected to close on January 11, 2022. Proceeds will be used to repay existing indebtedness under its $3.5 billion credit facility and for general corporate purposes. This offering is managed by Goldman Sachs, J.P. Morgan, Santander, and Wells Fargo.

Simon has appointed Peggy Fang Roe to its Board of Directors. Roe, currently a Global Officer at Marriott International, brings 18 years of experience in customer experience, loyalty programs, and business development. Chairman David Simon expressed confidence in her dynamic leadership and expertise. Her background includes overseeing Marriott Bonvoy and driving strategic initiatives across various regions. This appointment is expected to strengthen Simon's board with fresh insights and valuable perspectives in enhancing customer engagement and business growth.

Simon reported strong Q3 2021 results with net income of $679.9 million, or $2.07 per diluted share, up from $145.9 million in Q3 2020. Funds From Operations (FFO) rose 52.7% to $1.176 billion. The company increased its full-year guidance and raised the quarterly dividend to $1.65, a 26.9% year-over-year increase. Occupancy at U.S. malls reached 92.8%. Simon maintained robust liquidity with approximately $8.0 billion as of September 30, 2021. The report highlighted successful property developments and continued tenant demand.