INDIANAPOLIS, Dec. 13,
2023 /PRNewswire/ -- Simon®, a real
estate investment trust engaged in the ownership of premier
shopping, dining, entertainment and mixed-use destinations, today
celebrates the Company's 30th anniversary as a public
company.
"Throughout our 30-year history as a public company, Simon has
led the retail real estate industry through our best-in-class
operations, astute capital allocation and prudent investment in our
assets," said David Simon, Chairman,
Chief Executive Officer and President.
Over the past three decades, Simon has demonstrated its ability
to grow accretively and drive value for its shareholders. Total
consolidated revenue has increased thirteen-times, from
$400 million to over $5.5 billion and funds from operations has
increased nearly 30-times, from $150
million to $4.5 billion. Simon
has been an S&P 100 company since 2012.
The Company's total market value of its portfolio has increased
from $3.5 billion at the time of its
initial public offering to over $85
billion today. During that same time period, Simon has
distributed over $40 billion in
dividends and produced a total return of more than 2,900%, or a
compound annual return in excess of 12%, outperforming the S&P
500.
"Simon has experienced a very successful journey over the last
thirty years, and we see great opportunity in our future as we
continue to differentiate our Company through our scale and
diversity, seeking to grow our business while striving to do what
is best for our stakeholders and the communities in which we
operate," added Simon.
About Simon
Simon® is a real estate
investment trust engaged in the ownership of premier shopping,
dining, entertainment and mixed-use destinations and an S&P 100
company (Simon Property Group, NYSE: SPG). Our properties across
North America, Europe and Asia provide community gathering places for
millions of people every day and generate billions in annual
sales.
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SOURCE Simon