David Simon likes his position in retail — a type of side hustle for his mall giant Simon Property Group — but he’s content to be the one accepting the rent payments and doesn’t expect to purchase more retailers within the near term.
Partially, that’s since the business of being a landlord is paying up for Simon.
For the quarter ended Dec. 31, the true estate group’s net income increased 33.9 percent to $673.8 million, or $2.06 a diluted share, from $503.2 million, or $1.53, a 12 months earlier. Comparable funds from operations — a normal yardstick amongst retail real estate corporations — inched as much as $1.18 billion from $1.17 billion.
The retail portfolio shifted some throughout the group.
On a conference call with...
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