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Jun 30, 2020
Simon Q2 2020 Earnings Report
Simon navigated challenging pandemic times, prioritizing safety and producing solid profitability despite lost shopping days.
Key Takeaways
Simon Property Group reported solid profitability and positive cash flow from operations despite losing nearly 10,500 shopping days in its U.S. portfolio due to the COVID-19 pandemic. The company focused on safety and supported small businesses with rent abatements. As of August 7, 91% of the tenants across the Company's U.S. retail properties were open and operating.
Company properties were closed for approximately 10,500 shopping days during the second quarter.
As of August 7, 91% of tenants in U.S. retail properties were open.
Collected approximately 51% of contractual rent billed for April and May combined, 69% for June, and 73% for July from its U.S. retail portfolio.
Siam Premium Outlets Bangkok opened in June 2020 with 264,000 square feet of retail space.
Simon
Simon
Simon Revenue by Segment
Revenue by Segment
Lease Income Revenue
CapyFin.comManagement Fees and Other Revenues Revenue
CapyFin.comOther Income Revenue
CapyFin.com Forward Guidance
The Company expects to pay at least $6.00 per share in common stock dividends for 2020, in cash, subject to the Board of Directors' approval.
Revenue & Expenses
Visualization of income flow from segment revenue to net income