Topic: How To Invest

Hello Pat: I would like your opinion on Simon Property Group. Thanks.

Article Excerpt

Simon Property Group, $151.71, symbol SPG on New York (Units outstanding: 310.3 million; Market cap: $47.1 billion; www.simon.com), is a major U.S. real estate investment trust (REIT) that owns, develops and manages malls, premium outlets and community/lifestyle centres. Simon owns or has interests in 325 retail properties in North America, Europe and Asia with over 241 million square feet of leasable area. The trust’s malls typically contain at least one department store as an anchor tenant or a combination of department and big box retailers with a variety of smaller stores connecting them. Additional stores are usually located along the perimeter of the parking area. The premium outlets generally contain a variety of designer and outlet stores located in open-air shopping centres. They are generally near major cities or tourist destinations. Simon’s community/lifestyle centres are designed to serve neighborhoods. They are unenclosed and smaller than typical malls, with a focus on convenience. Supermarkets, discount retailers or drugstores are usually the anchor tenants. Simon continues to…