Simon Property Group faced varied economic circumstances throughout 2023 and 2024. With some market underperformance, many asset managers including
International Assets Investment Management LLC and
Westpac Banking Corp, trimmed or cut their stakes in SPG. Conversely, firms like
Principal Securities Inc. and others increased their shares. Despite occasional underperformance, SPG saw various strong trading days. The group sold off stakes in
Authentic Brands for $1.2 Billion but also sold $1 Billion of Senior Notes. Other key highlights include increased dividends, appointment of
Nina P. Jones to the board of directors, and a record annual
FFO. They also implemented digital loyalty tech to drive brick-and-mortar visits. Boston Area witnessed a significant investment of $450 Million by SPG. Simon Property group's stock received a boost as the firm continued to show market leadership with increasing RS rating.
Robust Q1 earnings growth and surpassing Q1 analyst expectations indicate future potential, however, some stakeholders suggest taking profits due to valuation.
Simon Property Group SPG News Analytics from Wed, 02 Aug 2023 07:00:00 GMT to Fri, 17 May 2024 20:50:00 GMT -
Rating 2
- Innovation -1
- Information 7
- Rumor -4
