Connect With Us

Inside INdiana Business
Subscribe Now Log In
  • Home
  • News
    • Education
    • Health
    • Tech
    • STEM
    • Advanced Manufacturing & Logistics
    • Life Sciences
    • Ag INnovation
    • INPower
  • Videos
  • Big Wigs
    • Submit Big Wigs
  • Events
    • Engage Southwest Indiana – Evansville
    • Engage Northwest Indiana – Valparaiso
    • Engage Greater Lafayette – West Lafayette
    • Engage West Central Indiana – Terre Haute
    • Engage South Bend – Elkhart
    • Engage Northeast Indiana – Fort Wayne
    • Engage Central Indiana – Indianapolis
  • Newsletters
  • Podcasts
  • On-Air
    • TV & Radio Listings
  • Contact
    • About IIB
    • Meet the Team
    • Contact Us
    • Advertise
    • Gift Cards
    • Flagship Stations
    • Gerry’s Message
    • Speaking Engagement Request

Connect With Us

Simon Profits Increase Again

Monday, November 1, 2021 06:18 PM EDT
By Alex Brown
Simon Profits Increase Again (photo courtesy of RATIO Architects)

Indianapolis-based Simon Property Group Inc. (NYSE: SPG) is reporting third quarter Funds From Operations of $1.2 billion, up from $723 million during the same period last year. It is the second consecutive quarter the mall retailer has seen year-over-year growth of more than 50%.

Simon is also reporting net income of $165 million, up from $100 million during the third quarter of 2020. The company says occupancy at its U.S. malls and premium outlets was at just under 93% as of September 30.

“Demand for our space from a broad spectrum of tenants is growing,” Chief Executive Officer David Simon said in a news release. “Occupancy gains continued, retailer sales accelerated, including our owned brands, and cash flow increased.”

As a result of the increased earnings, Simon is again increasing its full-year 2021 guidance. You can connect to the full earnings report by clicking here.

Story Continues Below

Most Popular Stories

  • Long-time Indy investment advisor acquired by Ohio firm

  • Purdue to dedicate smart manufacturing facilities

  • See the unseen: The silent crisis of youth homelessness in central Indiana

  • IU agrees to deal with Curt Cignetti as new head football coach

  • Ports of Indiana hires two financial executives

  • Teachers union presses lawmakers to reopen budget in 2024 session

Perspectives

See the unseen: The silent crisis of youth homelessness in central Indiana

See the unseen: The silent crisis of youth homelessness in central Indiana

It is a startling fact that an estimated 7,800 youth experience homelessness in our city every year. These aren't just statistics; they represent the lives of young people, each with a story, a dream, and the potential to thrive if given the opportunity. The shock factor lies in the magnitude of this issue – the magnitude of despair, isolation, and uncertainty that thousands of our city's youth grapple with daily....

Inside INdiana Business

Inside INdiana Business
A division of IBJ Media

1 Monument Circle, Suite 300
Indianapolis, IN 46204

PHONE: (317) 634-6200

FAX: (317) 263-5060

NEWSLETTER@IIBNEWS.COM

  • Home
  • News
  • Videos
  • Gerry Dick
  • Newsletters
  • On-Air
  • Contact

Copyright © 2023 All Rights Reserved Privacy Policy | Terms of Service