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Simon Property Group Inc T.SPG


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

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.


NYSE:SPG - Post by User

Comment by Ernieandberton Dec 28, 2022 9:14am
146 Views
Post# 35193272

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Ex bullfrog numbers?

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Ex bullfrog numbers?Not sure why they haven't advertised or marketed that those three founders are entirely off the payroll, but they are as of Aug 31, 2022.  I bet they filtered through personal expenses like golf memberships etc and I bet their total "take" was north of $3mm.  Stripping that out will be a significant help to Ebitda (margin).  They used this publicly traded company as their own piggy bank.  I think this needs a couple quarters for new CEO/CFO to recover and proove out they can do what they say they can do.  Having said that, with it trading at 3x, now is the time to take a gamble that they can.  And with 3 founders without any current income, they all should be motivated to get this stock higher and create a liquidity event in the 6-8x range.  
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