Simon Property Shares Rising in Monday's After-Hours Market
June 29 2020 - 4:49PM
Dow Jones News
By Stephen Nakrosis
Shares of Simon Property Group Inc. are trading higher in
Monday's after-hours market, following the real estate investment
trust's update on the reopening of its retail properties.
At 5:08 p.m. EDT, the company's shares had risen 5.9% to trade
at $72.12. Volume at the time topped 387,000 shares.
The company's stock finished the day's regular-trading session
with a 10.06% gain, closing at $68.13.
Simon said it had reopened 199 of its 204 retail properties
across 37 U.S. states, "which represent more than 95% of the
company's property net operating income." The remaining five
properties are expected to be reopen within the next week, the
company said.
Simon also said 30 of its Designer and international Premium
Outlets properties are open, with the last remaining international
Premium Outlet expected to open next week.
Also on Monday, Simon said its board declared a $1.30
second-quarter dividend, adding "the company expects to pay at
least $6 per share in common stock dividends for 2020, in cash,
subject to board of directors approval."
The company's previous dividend was $2.10.
--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
June 29, 2020 17:34 ET (21:34 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
Simon Property (NYSE:SPG)
Historical Stock Chart
From Apr 2024 to May 2024
Simon Property (NYSE:SPG)
Historical Stock Chart
From May 2023 to May 2024