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Simon Property Group — Feb 4, 2025 release

Fiscal 2024 fourth-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001104659-25-009105
Open on SEC.gov ↗
Showing in the filing
Premium Outlets - Redevelopments: Our Share of Net Investment
“$57,924”
Period
The long term
Measure
Company-defined measure
Source
Guidance table
All guidance in this release · 29
Quarterly common stock dividend for Q1 FY2025
“$2.10”
Quarterly dividend on 8 3/8% Series J Cumula… for FY2025
“$1.046875 per share”
Quarterly dividend on 8 3/8% Series J Cumula…
“$1.046875 per share”
Estimated net income attributable to common … for FY2025
“$6.95” – “$7.20”
Estimated net income per diluted share for FY2025
“$6.95 to $7.20”
Estimated Real Estate FFO and FFO per dilute… for FY2025
“$12.40 to $12.65”
Estimated Real Estate FFO and Estimated FFO … for FY2025
“$12.40” – “$12.65”
Malls - Redevelopments: Our Share of Net Inv… for the long term
“$1,004,036”
Malls - Redevelopments: Forecasted Investment for FY2025
“$535,803”
Malls - Redevelopments: Forecasted Total Inv… for FY2024
“$807,958”
Premium Outlets - New Developments: Our Shar… for the long term
“$184,626”
Premium Outlets - New Developments: Forecast… for FY2025
“$37,134”
Premium Outlets - New Developments: Forecast… for FY2024
“$117,383”
Premium Outlets - Redevelopments: Our Share … for the long term
“$57,924”
Premium Outlets - Redevelopments: Expected S… for the long term
“10%”
Premium Outlets - Redevelopments: Forecasted… for FY2025
“$4,004”
Premium Outlets - Redevelopments: Forecasted… for FY2024
“$40,504”
The Mills - Redevelopments: Our Share of Net… for the long term
“$37,867”
The Mills - Redevelopments: Expected Stabili… for the long term
“15%”
The Mills - Redevelopments: Forecasted Inves… for FY2025
“$32,915”
The Mills - Redevelopments: Forecasted Total… for FY2024
“$37,365”
Total Investment: Our Share of Net Investment for the long term
“$1,284,453”
Total Investment: Forecasted Investment for FY2025
“$609,856”
Total Investment: Forecasted Total Investment for FY2024
“$1,003,210”
Total Net Cash Investment for the long term
“$1,078,416”
Total Net Cash Investment: Forecasted for FY2025
“$552,117”
Total Net Cash Investment: Forecasted Total for FY2024
“$858,804”
Malls - Redevelopments: Expected Stabilized … for the long term
“8%”
Premium Outlets - New Developments: Expected… for the long term
“8%”
Exhibit 99.1 · the passage around this item
… earlier in the release
​   ​   4Q 2024 SUPPLEMENTAL ​ ​ ​ ​ 23   ​ TABLE OF CONTENTS ​   DEVELOPMENT ACTIVITY SUMMARY (1) As of December 31, 2024 (in thousands, except percent) ​     ​ ​ PLATFORM    PROJECT TYPE ​ ​ ​ OUR SHARE OF NET INVESTMENT ​ ​ ​ EXPECTED STABILIZED RATE OF RETURN ​ ​ ​ ACTUAL 2024 INVESTMENT ​ ​ ​ FORECASTED INVESTMENT FY 2025 - 2026 ​ ​ ​ FORECASTED TOTAL INVESTMENT FY 2024 - 2026 ​ ​ ​ ​ Malls ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Redevelopments ​ ​ ​ ​ $ 1,004,036 ​ ​ ​ ​ ​ ​ ​ 8 % ​ ​ ​ ​ ​ $ 272,155 ​ ​ ​ ​ ​ ​ $ 535,803 ​ ​ ​ ​ ​ ​ $ 807,958 ​ ​ ​ ​ ​ ​ Premium Outlets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ New Developments ​ ​ ​ ​ $ 184,626 ​ ​ ​ ​ ​ ​ ​ 8 % ​ ​ ​ ​ ​ $ 80,249 ​ ​ ​ ​ ​ ​ $ 37,134 ​ ​ ​ ​ ​ ​ $ 117,383 ​ ​ ​ ​ ​ ​ Redevelopments ​ ​ ​ ​ $ 57,924 ​ ​ ​ ​ ​ ​ ​ 10 % ​ ​ ​ ​ ​ $ 36,500 ​ ​ ​ ​ ​ ​ $ 4,004 ​ ​ ​ ​ ​ ​ $ 40,504 ​ ​ ​ ​ ​ ​ The Mills ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Redevelopments ​ ​ ​ ​ $ 37,867 ​ ​ ​ ​ ​ ​ ​ 15 % ​ ​ ​ ​ ​ $ 4,450 ​ ​ ​ ​ ​ ​ $ 32,915 ​ ​ ​ ​ ​ ​ $ 37,365 ​ ​ ​ ​ ​ ​ Total Investment (1) ​ ​ ​ ​ $ 1,284,453 ​ ​ ​ ​ ​ ​ ​ 8 % ​ ​ ​ ​ ​ $ 393,354 ​ ​ ​ ​ ​ ​ $ 609,856 ​ ​ ​ ​ ​ ​ $ 1,003,210 ​ ​ ​ ​ ​ ​ Less funding from: Construction Loans, International JV Cash on hand, etc. ​ ​ ​ ​ $ (206,037 ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ (86,667 ) ​ ​ ​ ​ ​ ​ $ (57,739 ) ​ ​ ​ ​ ​ ​ $ (144,406 ) ​ ​ ​ ​ ​ ​ Total Net Cash Investment ​ ​ ​ ​ $ 1,078,416 ​ ​ ​
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.