Sector: Real Estate|Industry: REIT - Retail|Market Cap: $64.40B|Employees: 3K
Simon Property Group, Inc. is a self-administered and self-managed real estate investment trust (REIT) that owns, develops, and manages premier shopping, dining, entertainment, and mixed-use destinations, primarily consisting of malls, Premium Outlets, and The Mills. The company's core business model revolves around leasing retail space to tenants, and its primary revenue streams are derived from fixed minimum lease consideration and variable lease consideration based on tenants' sales. Simon is a market leader with a significant geographic presence in the United States and internationally.
Lease income reached $1,315.7 million, up from $1,254.9 million in the same quarter of the previous year, indicating a steady but not explosive growth in core operations.
Operating income before other items reached $754.1 million, up from $657.9 million, demonstrating improved profitability from core operations.
Net income attributable to common stockholders reached $493.5 million, up from $486.3 million in the same quarter of the previous year, showing a slight improvement in profitability.