SPG Stock Recent News

PHOENIX will Operate DTC Commerce in the U.S.A. for Express & Bonobos NEW YORK , June 14, 2024 /PRNewswire/ -- WHP Global, in collaboration with an affiliate of Simon Property Group ("Simon"), Brookfield Properties ("Brookfield"), and Centennial Real Estate ("Centennial"), announce the formation of PHOENIX, a new retail operating platform, which received court approval to acquire a majority of Express, Inc. operations.

Simon Property Group, Inc. hit the highest-level rotation target at $150/share. Company viewed as "HOLD" due to valuation concerns. Analysts have improved their targets, but we maintain $150/share PT and recommend rotation into better-valued investments.

Simon Property Group has seen a 40.86% increase in shares over the past year, proving the demand for physical retail. SPG's occupancy rate is above 95% and the base minimum rent per sq foot continues to increase, driving value for shareholders. Despite the potential risks of a credit crunch and a recession, SPG's strong financials and leasing activity make it an attractive investment.

Simon Property Group has outperformed the Real Estate sector and the S&P 500, providing a total return of nearly 50% since October 2023. SPG's diverse property offerings and expansion efforts contribute to its strong financials and liquidity. The current dividend yield of 5.2% and the current FFO per share covers the dividend by a massive 178%.

In a strategic move to transform the luxury shopping landscape, Simon Property (SPG) announces a revitalization project at Fashion Valley, San Diego.

Center Uniquely Positioned to Serve Greater San Diego and Beyond, as Growth Continues INDIANAPOLIS , May 20, 2024 /PRNewswire/ -- Simon ® , a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment, and mixed-use destinations, today announced significant reinvestment to integrate luxury living at Fashion Valley . Following the recent completion of a multimillion-dollar revitalization, the new development further positions the center as the epicenter of upscale shopping, dining, and living in the San Diego area.

In the ever-evolving landscape of retail real estate, Simon Property Group (SPG) announces reinvesting in Houston's iconic The Galleria.

Dream Finders Homes has taken advantage of an excellent environment for homebuilders. Ryman Hospitality Properties has shown the resilience of group travel.

Luxury Offering Continues to Expand Due to Strong Demand INDIANAPOLIS , May 16, 2024 /PRNewswire/ -- Simon® , a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment, and mixed-use destinations, today announced its plans to further invest in Houston's The GalleriaTM  with an interior and exterior revitalization. In addition, several renowned brands have invested in their Galleria boutiques with significant expansions and updates.

Simon Property Group has shown strong growth year-over-year and is a resilient REIT despite challenging economic conditions. SPG reported a strong Q1, with FFO increasing double-digits for the full-year and beating revenue expectations. The company has made new developments and renovations to retain and attract customers, and has raised its dividend, making it an attractive long-term investment.