Simon Property Group, Inc. is an equity real estate investment trust. The firm invests in the real estate markets across the globe. It engages in investment, ownership, management, and development of properties. It primarily invests in regional malls, premium outlets, mills, and community/lifestyle centers to create its portfolio. Simon Property Group, Inc. was founded in 1960 and is based in Indianapolis, Indiana, with additional office in New York, New York.
Simon Property reports 3Q results INDIANAPOLIS (AP) _ Simon Property Group Inc. (SPG) on Wednesday reported a key measure of profitability in its third quarter. The results topped Wall Street expectations. The Indianapolis-based real estate investment trust said it had funds from operations of $976 million, or $2.70 per share, in the period. The average estimate of 11 analysts surveyed by Zacks Investment Research was for funds from operations of $2.68 per share. Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization. The company said it had net income of $504.7 million, or $1.61 per share. The shopping mall real estate investment trust posted revenue of $1.36 billion in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $1.35 billion. Simon Property expects full-year funds from operations to be $10.85 to $10.87 per share. The company's shares have climbed 1.5 percent since the beginning of the year, while the Standard & Poor's 500 index has risen roughly 5 percent. The stock has fallen 3 percent in the last 12 months.
Upcoming dividend information: Ex-Div-Date: 11/14/16 Payment Date: 11/30/16 Dividend: $1.65 Current Price: $180.28 Annual Yield: 3.66%
