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Simon Property Group Inc - SPG | ValueForum Member Stock Ratings

Last rating update for SPG was made by a ValueForum member on May. 17 2018, 12:21 PM ET. Factoring this and past ratings, on average SPG is rated 3.50 on a scale of Strong Buy (1.00) to Strong Sell (5.00) by 2 different member(s) of ValueForum.com. Full rating pages available to members only (click here) contain additional rating information including commentary by the 2 member(s) who entered the ratings. These ratings are posted by site users; this content is not intended to be investment advice, nor does it represent the opinion of, counsel from, or recommendations by ValueForum.com

SIMON PROPERTY GROUP INC (NYSE: SPG)
Last Trade
2:34 p.m. - 147.90
Change
 2.06 ( 1.37%)
Shares Traded
10,928
Day's Volume
679,590
Book Value
NA
Price/Book
NA
Beta
0.5921
Day's Range
147.44 - 150.59
Prev Close
149.96
Open
150.01
52 Wk Range
147.21 - 191.49
EPS
7.87
PE
18.79
Quarterly Div/Shr
2.10
Ex-Div
08/15/19
Yield
5.68%
Shares Out.
308.01M
Market Cap.
45.56B
  • 1 Year Stock Performance:

CAGR - Chart the growth of a $10K investment in SPG

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(Bloomberg) -- Mall landlords accustomed to offering rent reductions to ailing retailers are mulling a new strategy to forestall the industry’s collapse: positioning themselves as lenders to tenants struggling to stay afloat.Boutique bank PJ Solomon has organized discussions with several mall owners about pursuing such a strategy with troubled retailer Forever 21 Inc., according to people with knowledge of the matter, in what could serve as a model for future transactions within the sector.The talks have centered on converting rent and other liabilities into secured debt that could give distressed companies some breathing room to stay out of court, said the people, who asked not to be identified because the discussions are private. If a retailer later goes bust, the arrangement could give landlords a stronger say in the restructuring process because lenders get higher priority in a bankruptcy, they said. The landlords potentially could use their preferred status to bid for assets, swapping their unpaid claims for ownership.For mall operators dealing with wave after wave of closings, the situation is critical. More than 7,500 U.S. retail storefronts have shuttered this year alone, according to Coresight Research, dwarfing openings as chains such as Payless Inc. and Gymboree Corp. ceased operations. Landlords are faced with either slashing rents or dealing with empty properties that don’t have ready occupants. Less than half of U.S. malls are likely to survive the industry’s disruption, according to Bloomberg Intelligence analyst Lindsay Dutch.Breathing RoomMall owners have been willing to consider a wider range of options, including outright purchases of bankrupt tenants, to help keep stores from going dark. That’s been done only once before in recent history. Three years ago, America’s two largest mall operators -- Simon Property Group Inc. and General Growth Properties Inc. -- were part of a group that bought Aeropostale Inc., preserving more than 200 of the clothing chain’s stores.“Unless the landlords are going to repurpose their properties altogether, they still have to capture the greatest value they can from retail tenants,” said Scott Stuart, chief executive officer of industry group Turnaround Management Association, who has worked on corporate restructurings for 30 years. “If they can get creative about keeping the stores open, it may be a win-win situation.”PJ Solomon and Brookfield Property Partners LP -- which purchased General Growth Properties last year -- declined to comment, while representatives for Simon Property Group and Forever 21 didn’t respond to requests seeking comment.On a July 31 conference call with investors to discuss second-quarter earnings, Simon Property Group Chief Executive Officer David Simon acknowledged the company has considered pursuing more investments like the one in Aeropostale.“We certainly have the ability to help beyond what you might do on the leases and become an investor in a distressed situation,” Simon said. “So we have kind of the ability, together or individually or some combination thereof, to look at becoming more than just a real estate player, but a buyer of these brands.”Their diverse portfolio of tenants gives REITs particular insight into which merchants could make successful investments, according to Bloomberg Intelligence’s Dutch.“They will be selective when they make an investment,” Dutch said. “They won’t just go after every failing retailer.”\--With assistance from Lily Katz, Gillian Tan and Scott Deveau.To contact the reporters on this story: Lauren Coleman-Lochner in New York at llochner@bloomberg.net;Eliza Ronalds-Hannon in New York at eronaldshann@bloomberg.netTo contact the editors responsible for this story: Rick Green at rgreen18@bloomberg.net, Boris KorbyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
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(Bloomberg) -- Barneys New York Inc. filed for bankruptcy protection from creditors and laid out plans to shutter most of its stores after getting squeezed by rising rents and fewer visitors to its luxury fashion stores.The Chapter 11 filing in New York allows the department-store chain to stay open while it seeks to sell a slimmed-down business and to negotiate with its landlords.The company, owned by billionaire investor Richard Perry, said it has secured $75 million from affiliates of Hilco Global and Gordon Brothers Group to help meet its financial commitments. 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Meghji said in a court declaration.Vendor UncertaintyThe prospect of liquidation sales at such a high-end store raised questions about how discounting could affect Barneys’ relationships with its vendors.“Barneys works with the crème de la crème of vendors, who don’t want their items hitting the market at discounted prices, and are probably not used to their merchants filing for bankruptcy,” said Stephen Selbst, chair of the restructuring and bankruptcy group at New York law firm Herrick, Feinstein LLP. “Their only possible recourse is to offer to buy back inventory to avoid it hitting the distribution channel, but that’s expensive. 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Edited Transcript of SPG earnings conference call or presentation 31-Jul-19 12:30pm GMT
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Simon Property (SPG) Beats Q2 FFO Estimates, Hikes Dividend
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Simon Property (SPG) Beats Q2 FFO and Revenue Estimates
Simon Property (SPG) delivered FFO and revenue surprises of 0.34% and 0.50%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?

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Simon Property Group Inc (SPG)