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Simon Property Group Inc
Simon Property Group, Inc. is a real estate investment trust (REIT) that owns and operates income-oriented shopping malls, outlet centers, and mixed-use properties in the United States. The company is listed on the New York Stock Exchange (NYSE) under the ticker symbol "SPG".
Here are some key financial and earning metrics for Simon Property Group:
1. Market Capitalization: As of February 5th 2023, Simon Property Group has a market capitalization of approximately $33.84 Billion.
2. Revenue: In the third quarter of 2022, Simon Property Group reported total revenue of $1.44 Billion, representing a 24.5% increase year over year.
3. Net Income: In the third quarter of 2022, Simon Property Group reported net income of $502.8 million, representing a 28.1% increase year over year
4. Funds From Operations (FFO): In the third quarter of 2022, Simon Property Group reported FFO of $1.04 Billion, representing a 20.2% increase year over year. FFO is a widely used metric in the REIT industry that measures a company's operating performance by excluding certain non-cash items such as depreciation and amortization.
5. Earnings Per Share (EPS): In the third quarter of 2022, Simon Property Group reported EPS of $1.44, representing a 26.5% increase year over year
6. Rent Collection: As of November 2022, Simon Property Group collected approximately 97% of rent from its tenants, reflecting a strong recovery from the pandemic.
7. Occupancy Rate: As of September 30th, 2022, Simon Property Group's portfolio occupancy rate was 94.7%, up 20 basis points from the same period in 2022.
8. Leverage: As of September 30th, 2022, Simon Property Group had a net debt-to-adjusted EBITDAre ratio of 5.8x, down from 6.1x at year-end 2021.
9. Dividend Yield: As of February 5th 2023, Simon Property Group has a dividend yield of 4.69%.
10. Growth Projects: Simon Property Group has a robust development pipeline, with several projects underway, including the redevelopment of the former Sears store at Roosevelt Field in New York and the renovation of Phipps Plaza in Atlanta. The company is also expanding its premium outlet portfolio with new centers in Colorado and North Carolina.
Overall, Simon Property Group has demonstrated strong financial performance in recent years, with consistent revenue and earnings growth. The company's focus on high-quality retail assets and differentiated shopping experiences has positioned it well to capitalize on the continued recovery of the retail sector.