Simon Property Thrives With 6.4% Traffic Growth on Black Friday Weekend

Zacks12-03

Simon Property Group SPG has kicked off the 2024 holiday shopping season with impressive momentum. Reporting a 6.4% year-over-year increase in traffic across its nationwide portfolio during the Black ...

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Reporting a 6.4% year-over-year increase in traffic across its nationwide portfolio during the Black ...</p>\n\n<a href=\"https://finance.yahoo.com/news/simon-property-thrives-6-4-125500820.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Simon Property Thrives With 6.4% Traffic Growth on Black Friday Weekend</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSimon Property Thrives With 6.4% Traffic Growth on Black Friday Weekend\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-03 20:55 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/simon-property-thrives-6-4-125500820.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Simon Property Group SPG has kicked off the 2024 holiday shopping season with impressive momentum. Reporting a 6.4% year-over-year increase in traffic across its nationwide portfolio during the Black ...</p>\n\n<a href=\"https://finance.yahoo.com/news/simon-property-thrives-6-4-125500820.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4231","symbol_name":"零售房地产信托","start_time":0,"source_url":"https://finance.yahoo.com/news/simon-property-thrives-6-4-125500820.html","article_id":"2488941864","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/p7rJI8N6g6CoIxtuBq_WXQ--~B/aD00MTM7dz02MjA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/aedea70c5e5c5411f4e67a067bfd40d3"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2488941864","pubTimestamp":1733230500,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Some better-ranked stocks from the retail REIT sector are Brixmor Property Group BRX and Tanger, Inc. SKT, each currently carrying a Zacks Rank #2 . You can see the complete list of today’s Zacks #1 Rank  stocks here.The Zacks Consensus Estimate for Brixmor’s 2024 funds from operations  per share has been revised a cent northward over the past month to $2.14.The consensus estimate for Tanger’s current-year FFO per share has been revi","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4231":"零售房地产信托","SPG":"西蒙地产","BK4585":"ETF&股票定投概念","BRX":"Brixmor Property Group Inc.","BK4588":"碎股","SKT":"Tanger Factory Outlet Centers In","BK4080":"零售业房地产投资信托"},"translate_title":"Simon Property蓬勃发展，黑色星期五周末客流量增长6.4%","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BRX":1,"SKT":1,"SPG":1},"content_text":"Simon Property Group SPG has kicked off the 2024 holiday shopping season with impressive momentum. Reporting a 6.4% year-over-year increase in traffic across its nationwide portfolio during the Black Friday weekend, Simon’s performance reflects the enduring appeal of brick-and-mortar retail in a digitally dominated era.Malls led the charge, with a notable 7.1% traffic surge, underscoring their central role in Simon’s strategy. Preliminary data highlights that traffic growth was consistent across its Malls, Premium Outlets and Mills centers, with standout gains of 8.2% on Sunday. This marks a continuation of positive momentum for Simon, which has seen steady increases in footfall leading up to the holiday season. Year-over-year traffic was up 5.9% on Black Friday and 6.3% on Saturday.David Simon, Chairman and CEO, emphasized the broader significance of these results, noting the appeal of Simon’s properties as destinations for shopping, dining and connection. \"Malls are thriving,\" Simon remarked, as several popular brands across its portfolio reported double-digit sales growth over the weekend compared to last year.As a premier retail REIT, Simon is strategically positioned to capture consumer demand through its diversified property base. The holiday season’s strong start not only boosts near-term revenues but also signals robust tenant sales, enhancing occupancy and rental growth prospects. Its adoption of an omnichannel strategy and successful tie-ups with premium retailers have paid off well. It is also focused on helping digital brands enhance their brick-and-mortar presence. Moreover, the company capitalized on buying recognized retail brands in bankruptcy. Such efforts are likely to be accretive for its long-term growth.Moreover, solid dividend payouts are the biggest enticement for REIT investors, and Simon Property is committed to boosting shareholder wealth. This retail REIT has increased its dividend 12 times in the last five years. This spate of dividend increases reaffirms confidence in this retail landlord. Coupled with consistent operational strength, SPG remains an attractive play for income-focused investors seeking exposure to the retail recovery. The continued resilience of in-person shopping, bolstered by Simon’s exceptional assets, may provide further tailwinds as the holiday season progresses.So far in the quarter, shares of this Zacks Rank #3 (Hold) company have risen 7.3%, outperforming the industry’s growth of 2.3%.\nImage Source: Zacks Investment Research\nStocks to Consider\nSome better-ranked stocks from the retail REIT sector are Brixmor Property Group BRX and Tanger, Inc. SKT, each currently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.The Zacks Consensus Estimate for Brixmor’s 2024 funds from operations (FFO) per share has been revised a cent northward over the past month to $2.14.The consensus estimate for Tanger’s current-year FFO per share has been revised a cent upward over the past month to $2.11.Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nSimon Property Group, Inc. (SPG) : Free Stock Analysis Report\nTanger Inc. (SKT) : Free Stock Analysis Report\nBrixmor Property Group Inc. (BRX) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.4","shortVersion":"4.29.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2488941864"}