Simon Property Group Inc. Presents at UBS Global Real Estate CEO / CFO Conference, Dec-03-2013 02:30 PM
Nov 30 13
Simon Property Group Inc. Presents at UBS Global Real Estate CEO / CFO Conference, Dec-03-2013 02:30 PM. Venue: UBS Offices, London, United Kingdom. Speakers: Stephen E. Sterrett, Chief Financial Officer and Senior Executive Vice President.
Calloway Seeks Acquisitions
Nov 7 13
Calloway REIT (TSX:CWT.UN) is seeking acquisitions. Huw Thomas Chief Executive Officer and President of Calloway said, “We looking for further development within the joint venture with Simon Property Group; selective accretive acquisitions, where they make sense; the ongoing development of the Vaughan Metropolitan Center; and then finally, maximizing the potential of the SmartCentre relationship and the considerable resources that they bring.”
Simon Property Group Inc. Declares Quarterly Dividend on Series J Cumulative Redeemable Preferred Stock, Payable on December 31, 2013
Oct 25 13
Simon Property Group Inc. announced that the board of directors of the company declared the quarterly dividend on its 8 3/8% Series J Cumulative Redeemable Preferred Stock of $1.046875 per share, payable on December 31, 2013 to stockholders of record on December 17, 2013.
Simon Property Group Inc. Reports Un-Audited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2013; Declares Quarterly Common Stock Dividend, Payable on November 29, 2013; Revised Earnings Guidance for the Year Ending December 31, 2013; Announces Expansion Plans
Oct 25 13
Simon Property Group Inc. reported un-audited consolidated earnings results for the third quarter and nine months ended September 30, 2013. For the quarter, the company reported funds from operations (‘FFO’) of $802.8 million, or $2.21 per diluted share, as compared to $720.1 million, or $1.99 per diluted share, in the prior year period. The FFO increase on a per diluted share basis was 11.1%. Net income attributable to common stockholders was $311.7 million, or $1.00 per diluted share, as compared to $254.9 million, or $0.84 per diluted share, in the prior year period. The company reported total revenue of $1,302.3 million compared to $1,228.6 million, operating income of $600.6 million compared to $565 million, FFO allocable to common stockholders of $687.3 million or $2.21 per basic and diluted share compared to $603.8 million or $1.99 per basic and diluted share for the last year.
For the nine months, funds from operations (‘FFO’) of $2.311 billion, or $6.38 per diluted share, as compared to $2.057 billion, or $5.70 per diluted share, in the prior year period. The FFO increase on a per diluted share basis was 11.9%. Net income attributable to common stockholders was $934.7 million, or $3.01 per diluted share, as compared to $1.116 billion, or $3.71 per diluted share, in the prior year period. Results for 2012 include primarily non-cash net gains from acquisitions and dispositions of $1.36 per diluted share. The company reported total revenue of $3,753.9 million compared to $3,535.7 million, operating income of $1,723.1 million compared to $1,606.0 million, FFO allocable to common stockholders of $1,978.5 million or $6.38 per basic and diluted share compared to $1,714.8 million or $5.70 per basic and diluted share for the last year.
The company announced that the board of directors declared a quarterly common stock dividend of $1.20 per share. This is an increase of $0.05 per share from the previous quarter, and a year over year increase of 9.1%. The dividend will be payable on November 29, 2013 to stockholders of record on November 15, 2013.
The company updated and raised its guidance, estimating that FFO will be within a range of $8.72 to $8.78 per diluted share for the year ending December 31, 2013, and net income will be within a range of $4.10 to $4.16 per diluted share. This represents an increase of $0.10 per diluted share for midpoint of the range provided on July 29, 2013. The primary driver of this increase in FFO is strong operating performance across all platforms.
The company continue to expect development investment at least $1 billion annually, from '13 through '16 go projects. Go projects include Roosevelt Field, Houston Galleria, Woodbury, Stanford, Del Amo, just to name a few.
Simon Property Group Files Plans for a 79,000-Square-Foot Expansion of its Shopping Center
Oct 15 13
St. Louis Premium Outlets, owned by Simon Property Group, has filed plans for a 79,000-square-foot expansion of its shopping center, a 350,000-square-foot center with 90 stores. The addition is expected to add upwards of 20 stores to the $100 million shopping center. Mall officials indicated Phase II of the project was imminent when the center opened Aug. 22.