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REIT Comments |
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02/05/2010
SPG $69
Simon Property Group SPG 4Q 2009 FFO $1.66 (adjusted) v $1.93 (adjusted) DOWN (14%)
SPG 2009 FFO $6.01 (adjusted) v $6.49 (adjusted) DOWN (7%)
SPG 2009 FFO results exceed previous guidance range of $5.85-$5.92 per share
SPG guidance 2010 FFO $5.72-$5.87 v $6.01 (adjusted) DOWN (2%)-(5%)
SPG 4Q 2009 occupancy mall properties 92.1% DOWN (0.3%) from previous year
SPG 4Q 2009 tenant sales mall properties $433 per square foot DOWN (8%)
SPG 4Q 2009 average rents mall properties $40.04 DOWN (1%)
SPG 4Q 2009 occupancy outlet properties 97.9% DOWN (1.0%)
SPG 4Q 2009 tenant sales outlet properties $500 per square foot DOWN (2%)
SPG 4Q 2009 average rents outlet properties UP +21%
SPG a Retail REIT with a portfolio of regional malls and brand name outlet centers in US, Europe and Asia
SPG we rank 2 BUY
SPG market cap $24.2 billion
SPG an S&P 500 Index REIT
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