Simon Prop Grp - SPG STOCK NEWS

Simon has announced plans to develop Nashville Premium Outlets, a new luxury shopping and lifestyle destination in Thompson's Station, Tennessee. The approximately 325,000 square foot mixed-use center will be located at the intersection of Interstate 65 and Interstate 840. Construction is expected to begin in 2026, featuring about 75 retailers, restaurants, and a hotel, with potential for residential options and big-box retailers.

The project, developed in collaboration with Nashville-based Adventurous Journeys Capital Partners, will be Simon's third investment in the metro Nashville area, complementing their existing properties Opry Mills and The Mall at Green Hills. This expansion follows Simon's successful launch of Tulsa Premium Outlets in August 2024, which opened fully leased.

Simon Property Group (SPG) has released its 2024 tax reporting information for dividend distributions. The company's common stock (SPG) paid total distributions of $8.10 per share throughout 2024, with quarterly payments increasing from $1.95 to $2.10 per share. The distributions comprised 99.4% taxable ordinary dividends ($8.05059 per share) and 0.6% capital gain distribution ($0.04941 per share).

For the 8.375% Series J Cumulative Redeemable Preferred Stock (SPGPrJ), the company distributed $4.1875 per share annually, paid in equal quarterly installments of $1.046875. These distributions followed a similar pattern, with 99.4% as taxable ordinary dividends and 0.6% as capital gain distribution.

Under Section 199A, REIT dividends qualify for a 20% deduction for eligible taxpayers. The company confirmed these are final income allocations for tax purposes.

Simon (SPG), a premier shopping, dining, entertainment and mixed-use destinations REIT, has scheduled its fourth quarter 2024 earnings release and conference call. Financial and operational results for the quarter ending December 31, 2024, will be released after market close on February 4, 2025.

The company will host its quarterly earnings conference call and audio webcast on the same day from 5:00 p.m. to 6:00 p.m. Eastern Time. The webcast will be available at investors.simon.com. An audio replay will be accessible from February 4, 2025 (9:00 p.m. ET) until February 11, 2025 (11:00 p.m. ET).

Simon, a leading real estate investment trust specializing in premier shopping, dining, entertainment and mixed-use destinations, has announced its upcoming presentation at the Goldman Sachs 2024 U.S. Financial Services Conference. The presentation is scheduled for Wednesday, December 11, 2024, at 1:00 p.m. Eastern Time.

Interested parties can access a live audio webcast of the presentation through the Investors section of Simon's website at investors.simon.com. An online replay will be made available at the same location following the presentation.

Simon, a real estate investment trust, reported significant traffic growth during Black Friday weekend across its shopping centers. The company saw a 6.4% year-over-year increase in overall traffic, with malls specifically showing a 7.1% gain. Daily traffic increases were 5.9% on Black Friday, 6.3% on Saturday, and 8.2% on Sunday. Retailers within Simon's portfolio reported double-digit sales increases compared to the previous year, with multiple locations experiencing lines before opening and throughout the day.

Simon, a real estate investment trust specializing in premier shopping destinations, launches its holiday campaign 'Meet Me @themall™' across its nationwide centers. The campaign combines '80s and '90s nostalgia with modern shopping experiences, featuring social media influencers and targeting Generation Z. Simon centers host approximately 275,000 families for Santa visits annually and offer various holiday activities. The company has introduced ShopSimon™, a 24/7 digital platform featuring deals from over 360 retailers, and Simon Search, which tracks over 2 million products' availability and pricing both in-store and online.

Sky Real Estate has acquired Osage Beach Outlet Marketplace from Simon Property Group (NYSE: SPG). The 391,000-square-foot shopping center is situated on a 60-acre parcel along Osage Beach Parkway in the Lake of the Ozarks region. The outlet center features prominent retailers including Polo Ralph Lauren, Under Armour, Bath & Body Works, and LOFT. Sky Real Estate plans to maintain operations while working with local community partners to enhance the property's position as a regional destination.

Simon reported strong Q3 2024 results with net income of $475.2 million ($1.46 per diluted share). Real Estate FFO reached $1.144 billion ($3.05 per diluted share), up 4.8% year-over-year. Domestic property NOI increased 5.4%, while portfolio NOI grew 5.0%. Occupancy improved to 96.2%, and base minimum rent per square foot rose 2.3% to $57.71. The company successfully opened Tulsa Premium Outlets and expanded Busan Premium Outlets. The quarterly dividend was raised 10.5% to $2.10 per share. Simon maintains its 2024 guidance with FFO expected between $12.80 and $12.90 per diluted share.

Simon (SPG), a real estate investment trust specializing in premier shopping, dining, entertainment and mixed-use destinations, has rescheduled its third quarter 2024 earnings conference call. The company will release its financial and operational results for Q3 2024 before market open on November 1, 2024. The earnings call and webcast will take place from 10:00 a.m. to 11:00 a.m. Eastern Time on the same day. An audio replay will be available from 2:00 p.m. on November 1 until November 8, and the call will be archived on investors.simon.com for approximately 90 days.