CreditSights logo
Forgot Password?

Simon Property Group

SPG is a registered REIT with a portfolio of commercial real estate properties focused on the retail space, mainly comprised of high quality malls and premium outlets that typically cater to luxury shoppers. At 3Q18, SPG's consolidated U.S. book was comprised of 135 wholly-owned properties and 19 additional properties in which it had a controlling interest. Geographically diverse in the U.S., top regions include: FL (15.9% of NOI at 3Q18), CA (13.3%), and TX (10.3%). Primarily a domestic company, SPG has international exposure to Canada, Mexico, Europe, and Asia via joint ventures and direct equity ownership in companies (Klepierre). SPG has good tenant diversification, with no single name accounting for more than 3.4% of U.S. base minimum rent (The Gap). (07 Dec 2018)

Search Results

Excerpts only. To access full content please login or request a free trial.

Focused

Simon Property: 3Q18 Earnings Quick Cuts

Worth Watching: 25 Oct 2018, 10:25 PM ET - Simon Property (SPG) turned in a solid 3Q18 as FFO came in ahead of consensus estimates as SPG raised FY18 guidance for the third time in 2018, now forecasting FFO per share growth of 8%, up 1.3% pts. from initial guidance. Management continued to ..
Focused

Retail REITs: Sears Bankruptcy as Opportunity

Worth Watching: 15 Oct 2018, 1:28 PM ET - Retail REITs: With the news that Sears is (finally?) filing for bankruptcy, we size REIT exposures to the long-struggling retailer and see the impacts as broadly manageable. From an operating performance perspective, the vast majority of REITs see ..
Focused

REIT/CRE 3Q18 Preview: What We're Watching

Sector Analysis: 12 Oct 2018, 5:57 AM ET - We lay out what we're watching as we head into 3Q18 earnings, for property types, individual credits, and with a macro component given the breadth and depth of economic touch points for U.S. real estate.

US Strategy: What to Watch for on 3Q Earning Calls

Strategy Analysis: 11 Oct 2018, 4:37 AM ET - We surveyed our analyst teams for key sector level issues they will be paying close attention to with upcoming third quarter earnings calls beyond the typical sales, margins and earnings guidance. 

Register Now: 2018 Global Financials Seminars

Announcement: 10 Sep 2018, 9:51 PM ET - Register for our upcoming fifth annual Global Financials Seminars.
Focused

REITs/CRE 2Q18: How Are Property Types Performing?

Sector Analysis: 22 Aug 2018, 5:10 AM ET - In Part 2 of our REITs/CRE 2Q18 review, we delve into the recent trends—both operating fundamentals and capital markets—across the five major property types as we take the pulse of the different underlying asset classes.

REITs/CRE 2Q18: Themes, Trends and Takeaways

Sector Analysis: 13 Aug 2018, 5:32 AM ET - In part 1 of our REITs/CRE 2Q18 review, we discuss key themes emerging from earnings, including sector relative value, overall market conditions, the continue run-up in construction costs and more.

Interplay Between US Banks & Fed's Balance Sheet

Sector Analysis: 08 Aug 2018, 5:36 AM ET - In this note, we discuss the impacts of the Fed's balance sheet unwind on banks. We expect that U.S. banks will become the "natural buyers" of U.S. Treasuries not bought by the Fed, offsetting the impact on rates.
Focused

Simon Property: 2Q18 Earnings Quick Cuts

Worth Watching: 30 Jul 2018, 4:00 PM ET - Simon Property (SPG) turned in a solid 2Q18 as FFO came in ahead of consensus estimates. The company continues to churn out good results amid the broader retailer struggles and real estate restructuring, shining a light on the quality of its por ..

CA Goes to the Polls: A Rent Control Primer

Sector Analysis: 11 Jul 2018, 9:42 PM ET - In November, Californians will vote on a ballot initiative that seeks to repeal Costa-Hawkins, a 1995-era law restricting municipalities' ability to institute rent control policies, with implications for multifamily REITs in particular.

US Banks: Update to 2018 Debt Supply Forecast

Sector Analysis: 09 Jul 2018, 5:49 AM ET - Following a review of 1H18 debt supply, we are increasing our supply forecast for the full year for the banks in our coverage universe. The majority of the increase reflects increased expectations for OpCo debt from the GSIBs.
Focused

Simon Property: Names Brian McDade as New CFO

Worth Watching: 21 Jun 2018, 9:21 PM ET - Simon Property (A2/A/A) announced that Brian McDade will take on the role of CFO in October when Andrew Juster retires (staying on through the end of the year to help in the transition). McDade has been with the company for 14 years and has served ..

REITweek 2018: Cool, Calm, and Collected

Sector Analysis: 08 Jun 2018, 5:22 AM ET - We attended NAREIT's REITweek 2018 convention, providing our top level thoughts on the overall sector tone and analysis on individual company presentations.

REITs/CRE 1Q18: How Are Property Types Performing?

Sector Analysis: 17 May 2018, 4:27 AM ET - In Part 2 of our REITs/CRE 1Q18 review, we delve into the recent trends--both operating fundamentals and capital markets--across the five major property types as we take the pulse of the different underlying asset classes.

REITs/CRE 1Q18: Themes, Trends and Takeaways

Sector Analysis: 14 May 2018, 4:40 AM ET - In part 1 of our REITs/CRE 1Q18 review, we discuss key themes emerging from earnings, including construction cost overruns, public/private market valuation disconnect, sector relative value, and more.
Focused

Simon Property: 1Q18 Earnings Quick Cuts

Worth Watching: 29 Apr 2018, 10:05 PM ET - Simon Property (SPG) reported a relatively solid 1Q18 as both FFO and revenue came in slightly ahead of consensus estimates. Same store NOI growth was solid at 2.3%, though it decelerated ~150 bp YoY, while occupancy was 94.6% at 1Q18, down 100 bp ..
Focused

Simon Property: CFO Juster to Retire at Year-End

Worth Watching: 20 Mar 2018, 10:11 PM ET - Simon Property (A2/A/A) announced that CFO Andrew Juster will retire at the end of the year. Juster was named CFO in 2014 and took over the position in early 2015. The company has not named a successor as of yet.For more on the company, seeRetail ..
Focused

Retail REITs: TOYS Exposure aka Market Rents 'R Us

Worth Watching: 15 Mar 2018, 7:08 PM ET - Retail REITs: With Toys 'R Us (TOYS) looking like a straight liquidation rather than a restructuring, we take a quick look at exposures across the retail REIT universe (including names beyond our core coverage). Similar to past exercises with stru ..
Focused

Simon Property: 4Q17 Earnings

Worth Watching: 04 Mar 2018, 9:51 PM ET - Simon Property (SPG) turned in a solid 4Q17, with FFO and revenue coming in line with consensus. The company continued to churn out strong results that belie the apocalyptic retail headlines and shine a light on the quality of its portfolio. Sa ..
Focused

U.S. REITs/CRE: 4Q17 Review

Sector Analysis: 04 Mar 2018, 9:41 PM ET - We review U.S. CRE and REIT trends in the wake of solid 4Q17 earnings results and a generally positive, if slowing, operating backdrop for the broader property sectors. Fundamentals continue to support our broader O/P on the sector.

Request A Free Trial

CreditSights offers free trials to individuals in qualified institutions.

Sign up now >>

Refine Results