When was Simon Property Group’s initial public offering completed and what exchange is its stock traded on?
What is a REIT?
REITs allow anyone to invest in portfolios of large-scale properties the same way they invest in other industries – through the purchase of stock. In the same way shareholders benefit by owning stocks in other corporations, the stockholders of a REIT earn a share of the income produced through real estate investment – without actually having to go out and buy or finance property.
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).
What is "Funds from Operations?"
We consider Funds from Operations (“FFO”) and FFO per share key measures of our operating performance that are not specifically defined by accounting principles generally accepted in the United States, or GAAP. FFO is a performance measure that is standard in the REIT business. We believe FFO provides investors with additional information concerning our operating performance and a basis to compare our performance with those of other REITs. We also use these measures internally to monitor the operating performance of our portfolio. Our computation of these non-GAAP measures may not be the same as similar measures reported by other REITs.
We determine FFO based upon the definition set forth by the National Association of Real Estate Investment Trusts ("NAREIT") Funds From Operations White Paper – 2018 Restatement. Our main business includes acquiring, owning, operating, developing, and redeveloping real estate in conjunction with the rental of real estate. Gains and losses on assets incidental to our main business are included in FFO. 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 sale, disposal or property insurance recoveries of, or any impairment related to, depreciable 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. 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.
What are the CUSIP numbers for Simon Property Group’s common and preferred stock?
Series J 8.375% Cumulative Redeemable Preferred - 828806885
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.
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).
How do I purchase shares of Simon Property Group common stock?
Simon Property Group offers a 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.
Does the company have a dividend reinvestment plan?
Simon Property Group offers a 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.
How can I transfer shares of my Simon Property Group stock?
Shareholder correspondence should be mailed to:
P.O. Box 505000
Louisville, KY 40233-5000
Overnight correspondence should be mailed to:
462 South 4th Street
Louisville, KY 40402
How can I find historical Simon Property Group stock prices?
You can find historical stock prices on the Stock Quote page.
What are the dividend record and payment dates?
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.
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.
What are Simon Property Group's investment merits?
- Positive operating fundamentals: Comparable FFO per share compound annual growth rate of approximately 8% from 2014 to 2018
- Organic growth drivers: tenant demand for stores in quality locations and ability to re-lease space at higher market rents upon expiration
- Potential to deploy capital for accretive returns, both domestic and international: redevelopments in existing portfolio and new ground-up Premium Outlets
- Dividend growth: 4-year dividend per share compound annual growth of more than 11%
- Low cost of capital: highest investment-grade credit ratings in industry (Moody's A2, Standard & Poor's A)
- Industry-leading management team: experienced at operating through all economic cycles
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
Click here to contact investor relations.