Simon Property Group Inc T.SPG

Primary Symbol: SPG Alternate Symbol(s): SPG.PR.J

Real Estate REIT - Retail

Simon Property Group, Inc. is a self-administered and self-managed real estate investment trust (REIT). The Company owns, develops and manages premier shopping, dining, entertainment and mixed-use destinations, which consist primarily of malls, Premium Outlets, and The Mills. It owns or holds an interest in approximately 195 income-producing properties in the United States, which consists of 93 malls, 69 Premium Outlets, 14 Mills, six lifestyle centers, and 13 other retail properties in 37 states and Puerto Rico. It also holds an interest in 24 regional, super-regional, and outlet malls in the United States and Asia. In addition, it has redevelopment and expansion projects, including the addition of anchors, big box tenants and restaurants, underway at several properties in the North America, Europe and Asia. Internationally, the Company has ownership in 35 Premium Outlets and Designer Outlet properties primarily located in Asia, Europe, and Canada.

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Simon Property Group Inc > Potential-Covenant-Breaches

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Comment by Ernieandberton Mar 03, 2022 5:54pm

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Post# 34481040

RE:RE:RE:RE:RE:Potential-Covenant-Breaches

What Analysts? I thing CG is the only one covering them now. Tell me how a co with $25mm of cash on the b/s, after paying down 13mm of debt (Prom Notes), FCF of $10mm per year, and the ability to sell Bullfrog for about as much as their o/s debt is going to default? They cover interest and am payments easily out of Ebitda with interest coverage of about 5x. Cos with those metrics and a decent runway do not default. I bet this co is net debt free by summer...if they do the right thing and sell Bullfrog. Then where will the stock be? You think that is why that hedge fund bought $10mm worth in the PP? Maybe, just maybe.

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