Welcome to our dedicated page for Simon Prop Grp news (Ticker: SPG), a resource for investors and traders seeking the latest updates and insights on Simon Prop Grp stock.
Simon Property Group, Inc. (SPG) is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations. As an S&P 100 company with properties across North America, Europe and Asia, Simon regularly issues news on its financial performance, portfolio activity and customer-focused initiatives.
On this page, readers can follow SPG news related to quarterly earnings releases, dividend declarations and operating metrics such as occupancy and retailer sales at its U.S. malls and premium outlets. Simon frequently furnishes earnings press releases and supplemental financial information through Form 8-K filings, which are often accompanied by conference calls and webcasts for investors.
Company announcements also cover capital markets activity, including senior notes offerings by its majority-owned operating partnership, debt refinancing transactions and updates on liquidity and balance sheet management. These items provide insight into how Simon finances its portfolio of shopping, dining, entertainment and mixed-use properties.
In addition, Simon’s news highlights acquisitions, developments and partnerships that shape its portfolio and enhance the experience at its centers. Recent examples include the acquisition of Phillips Place, a mixed-use destination with specialty retail, dining, hotel and residential components, and the planned Sagefield luxury lifestyle development in Tennessee. Simon has also announced collaborations with Electrify America to expand hyper-fast EV charging at its properties and with Autolane to deploy curbside operating systems that support autonomous vehicles at selected centers.
News releases further describe customer-facing initiatives such as the Simon+ loyalty program and the ShopSimon digital marketplace, which connect retailers and shoppers across in-person and online channels. Investors, analysts and shoppers can use this SPG news feed to monitor ongoing developments in Simon’s portfolio, financial reporting and strategic initiatives.
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SCHEELS has announced the opening of its second location in Kansas, set to debut in Spring 2023 at Towne East Square in Wichita. This new store will span 220,000 sq. feet and create over 400 associate positions. Following the success of its Overland Park store, the Wichita location aims to attract a diverse range of shoppers with its family-friendly attractions and specialty shops. SCHEELS now operates 31 locations, with additional stores scheduled to open in Missoula, MT, and Chandler, AZ in Fall 2023.
Läderach – chocolatier suisse has announced plans to open 15 new premium chocolate stores in Simon properties across California, Florida, Massachusetts, New York, Texas, and Virginia from August to September. Each store will showcase over 85 varieties of artisanal chocolate directly from Switzerland and feature a FrischSchoggi™ counter. This expansion responds to high e-commerce demand and enhances the in-store experience. Läderach, the largest chocolate retailer in Switzerland, aims to deliver the freshest chocolate through its bean-to-bar production.
On June 21, 2021, Simon announced a 7.7% increase in its common stock dividend for Q2 2021. Shareholders will receive a $1.40 cash dividend per common share, payable on July 23, 2021, to those on record as of July 2, 2021. This decision reflects Simon's ongoing commitment to return value to its investors amid market uncertainties.
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Simon Property Group (NYSE: SPG) addresses the environmental impact of both Bitcoin mining and online shopping. The company emphasizes that in-store shopping is a more sustainable option, claiming that shoppers can help the environment by choosing local retail outlets. Simon has reduced its carbon footprint by over 50% since 2003 and plans to lower emissions by an additional 68% by 2035. The company also highlights initiatives such as increased EV charging stations and solar energy systems aimed at promoting sustainability.
S&P Global and IHS Markit announced plans to divest IHS Markit's Oil Price Information Services (OPIS) and Coal, Metals and Mining businesses due to regulatory feedback. This strategic move aims to facilitate the timely closing of their proposed merger, expected in H2 2021, pending regulatory approvals. Both companies are collaborating with regulators to ensure compliance and anticipate that this divestiture will address any concerns raised.
On May 11, 2021, C3 (Creating Culinary Communities) announced the opening of Citizens, a lifestyle food hall, in New York City and Atlanta, part of its expansion strategy. Citizens will feature ghost kitchen concepts, operating brands like Krispy Rice and Sam's Crispy Chicken. The first location opens in July 2021 at Manhattan West, while Atlanta's Phipps Plaza will follow in 2022. C3 aims to revitalize urban dining with immersive experiences, leveraging partnerships with Brookfield Properties and Simon Property Group, the latter being a minority investor.
Simon reported Q1 2021 net income of $445.9 million ($1.36 per share) and FFO of $934.0 million ($2.48 per share). Despite an 8.4% decline in combined NOI due to COVID-19, portfolio NOI rose 4%. Occupancy reached 90.8%, with a 0.6% increase in base minimum rent per square foot. The company issued $1.5 billion in senior notes and €750 million in Euro notes to strengthen its balance sheet. Simon raised its 2021 guidance with an anticipated FFO per share of $9.70 to $9.80. A quarterly dividend of $1.30 per share was paid on April 23, 2021.
On April 22, 2021, Simon emphasized sustainability by urging shoppers to return online purchases to physical stores instead of using couriers or mail. This practice can cut carbon emissions by up to 40%. In 2020, online returns soared to $102 billion, with apparel returns reaching 40%. Aharon Kestenbaum, Head of Sustainability, highlighted the environmental and economic advantages of in-store returns. Despite these benefits, only 7% of retailers encourage this method, even though customers prefer the convenience and immediate refunds associated with in-person returns.
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