FAQ

1.When was Simon Property Group’s initial public offering completed and what exchange is its stock traded on?
2.What is a REIT?
3.What is "Funds from Operations?"
4.What are the CUSIP numbers for Simon Property Group’s common and preferred stock?
5.What are the terms for Simon Property Group preferred stock traded on the New York Stock Exchange?
6.What are Simon Property Group's credit ratings?
7.How do I purchase shares of Simon Property Group common stock?
8.Does the company have a dividend reinvestment plan?
9.How can I transfer shares of my Simon Property Group stock?
10.How can I find historical Simon Property Group stock prices?
11.What are the dividend record and payment dates?
12.Does Simon Property Group issue 1099s or K-1s for tax reporting purposes?
13.What is Simon Property Group’s mission statement?
14.What are Simon Property Group's investment merits?
15.How do I get copies of financial documents such as annual reports and SEC filings?
1.When was Simon Property Group’s initial public offering completed and what exchange is its stock traded on?
 

Simon Property Group’s initial public offering closed in December of 1993 at a price of $22.25 per share. Simon Property Group‘s common stock trades on the New York Stock Exchange under the ticker symbol "SPG."


2.What is a REIT?
 

A REIT is a corporation or business trust that combines the capital of many investors to acquire or provide financing for all forms of real estate. A REIT serves much like a mutual fund for real estate in that retail investors obtain the benefit of a diversified portfolio under professional management. Its shares are freely traded, usually on a major stock exchange.

A REIT generally does not pay corporate income tax to the Internal Revenue Service, which is a unique feature shared only with mutual funds. Nearly all of a REIT's income can be distributed to shareholders, and there is no double taxation of the income to the shareholder.

Simon Property Group is a REIT specializing in the ownership, development, management, leasing, acquisition and expansion of income-producing retail real estate assets.

For additional information on REITs, visit the National Association of Real Estate Investment Trusts (NAREIT).


3.What is "Funds from Operations?"
 

We consider Funds from Operations ("FFO") a key measure of our operating performance that is not specifically defined by GAAP and believe that FFO is helpful to investors because it is a widely recognized measure of the performance of REITs and provides a relevant basis for comparison among REITs. We also use this measure internally to measure the operating performance of the portfolio. Our computation of FFO may not be comparable to FFO reported by other REITs.

We determine FFO based upon the definition set forth by the National Association of Real Estate Investment Trusts ("NAREIT"). We determine FFO to be our share of consolidated net income computed in accordance with GAAP, excluding real estate related depreciation and amortization, excluding gains and losses from extraordinary items, excluding gains and losses from the sales of or disposals of, or any impairment charges related to, previously depreciated retail operating properties, plus the allocable portion of FFO of unconsolidated joint ventures based upon economic ownership interest, and all determined on a consistent basis in accordance with GAAP.

We have adopted NAREIT's clarification of the definition of FFO that requires it to include the effects of nonrecurring items not classified as extraordinary, cumulative effect of accounting changes, or a gain or loss resulting from the sale or disposal of, or any impairment changes related to, previously depreciated retail operating properties. We include in FFO gains and losses realized from the sale of land, outlot buildings, marketable and non-marketable securities, and investment holdings of non-retail real estate. However, you should understand that FFO does not represent cash flow from operations as defined by GAAP, should not be considered as an alternative to net income determined in accordance with GAAP as a measure of operating performance, and is not an alternative to cash flows as a measure of liquidity.


4.What are the CUSIP numbers for Simon Property Group’s common and preferred stock?
 Common Stock - 828806109
Series J 8.375% Cumulative Redeemable Preferred - 828806885

5.What are the terms for Simon Property Group preferred stock traded on the New York Stock Exchange?
 

Series J 8.375% Cumulative Redeemable, ticker: SPGPrJ
Distributions: Payable quarterly in the amount of $1.046875 per share on or about the last day of March, June, September and December. Annual dividend = $4.1875. Liquidation preference = $50 per share.

The shares are redeemable on or after October 15, 2027. The shares are not convertible into or exchangeable for any other securities of SPG.


6.What are Simon Property Group's credit ratings?
 

Senior unsecured debt is rated A (Stable Outlook) by Standard & Poor’s and A2 (Stable Outlook) by Moody’s. Preferred stock is rated BBB+ (Stable Outlook) by Standard & Poor’s and A3 (Stable Outlook) by Moody’s. Commercial paper is rated A1 (Stable Outlook) by Standard & Poor’s and P1 (Stable Outlook) by Moody’s. Standard & Poor’s corporate rating for Simon Property Group is A (Stable Outlook).


7.How do I purchase shares of Simon Property Group common stock?
 

Simon Property Group offers an Shareowner Services Program for investors wishing to purchase or sell Simon Property Group Common Stock. You can find additional information on this Web site on the Shareowner Services Program page. You may also contact a licensed broker to purchase shares.


8.Does the company have a dividend reinvestment plan?
 

Simon Property Group offers an Shareowner Services Program for present shareholders of record which allows them to enroll in dividend reinvestment or to make changes to their dividend reinvestment. You can find additional information on this Web site on the Shareowner Services Program page.


9.How can I transfer shares of my Simon Property Group stock?
 

Shareholder correspondence should be mailed to:
Computershare
P.O. Box 30170
College Station, TX 77842-3170

Overnight correspondence should be mailed to:
Computershare
211 Quality Circle, Suite 210
College Station, TX 77845
Phone: 1-800-454-9768
Internet: http://www.computershare.com/investor


10.How can I find historical Simon Property Group stock prices?
 

You can find historical stock prices on the Price Lookup page.


11.What are the dividend record and payment dates?
 

You can find dividend information on the Dividend History page.


12.Does Simon Property Group issue 1099s or K-1s for tax reporting purposes?
 

Holders of Simon Property Group's common and preferred stock receive 1099s. Holders of Simon Property Group's limited partnership units receive K-1s. The company is required to mail 1099s to shareholders by January 31st and K-1s by July 15th.


13.What is Simon Property Group’s mission statement?
 

To be the preeminent developer, owner and manager of retail real estate. To create and continually enhance stockholder value through the ownership of a high quality portfolio of premier properties and a commitment to our employees, our customers, our retailer and business partners and the communities in which we operate.


14.What are Simon Property Group's investment merits?
 
  • Positive operating fundamentals: FFO per share compound annual growth rate of 15% for 2010 to 2014
  • Organic growth drivers: retailer demand for quality locations and ability to re-lease space at higher market rents upon expiration
  • Opportunities to invest for accretive returns: redevelopments in existing portfolio and new ground-up Premium Outlets and mixed-use projects
  • Dividend growth: ~100% of taxable income distributed to shareholders as dividends; 4-year dividend per share compound annual growth of 19%
  • Low cost of capital: highest investment-grade credit ratings in industry
  • Industry-leading management team: experienced at operating through all economic cycles

15.How do I get copies of financial documents such as annual reports and SEC filings?
 

These documents are located on this Website in the Financials section. You may also contact:
Simon Property Group, Investor Relations
P.O. Box 7033
Indianapolis, IN 46207
Telephone: 317.636.1600
Click here to contact investor relations.