Simon Property Group Inc
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Real Estate : Equity Real Estate Investment Trusts (REITs) | Mid Cap Value
Company profile

Simon Property Group, Inc. is a self-administered and self-managed real estate investment trust (REIT). The Company owns, develops and manages retail real estate properties, which consist primarily of malls, Premium Outlets and The Mills. Simon Property Group, L.P. (Operating Partnership), is the Company's partnership subsidiary that owns all of its real estate properties and other assets. As of December 31, 2016, the Company owned or held an interest in 206 income-producing properties in the United States, which consisted of 108 malls, 67 Premium Outlets, 14 Mills, four lifestyle centers, and 13 other retail properties in 37 states and Puerto Rico. As of December 31, 2016, it had redevelopment and expansion projects, including the addition of anchors, big box tenants, and restaurants, underway at 27 properties in the United States and it had one outlet and one other retail project under development.

Postmarket

Last Trade
Delayed
$0.00
0.00 (0.00%)
Bid
--
Ask
--
B/A Size
--

Market Hours

Closing Price
$82.57
Day's Change
-2.98 (-3.48%)
Bid
--
Ask
--
B/A Size
--
Day's High
86.90
Day's Low
82.40
Volume
(Light)
Volume:
6,983,693

10-day average volume:
8,774,595
6,983,693

UPDATE: United Airlines' Q3 sales drop 78%

4:55 pm ET October 14, 2020 (MarketWatch)
Print

By Claudia Assis

United Airlines Holdings Inc. stock fell late Wednesday after the airline reported a 78% drop in quarterly sales as the pandemic continued to crimp air travel.

United (UAL) said it lost $1.8 billion, or $6.33 a share, in the third quarter, contrasting with earnings of $1 billion, or $3.99 a share, in the year-ago quarter.

Related:American Airlines downgrade, Delta's weak third quarter weigh on airline stocks (https://www.marketwatch.com/story/american-airlines-downgrade-deltas-weak-third-quarter-weigh-on-airline-stocks-11602606788)

Adjusted for one-time items, United lost $8.16 a share, versus an adjusted profit of $4.07 a share a year ago.

Total revenue dropped to $2.49 billion from $11.38 billion a year ago. Passenger revenue dropped 84% to $1.7 billion.

Analysts polled by FactSet had expected the airline to report an adjusted loss of $7.53 a share on sales of $2.50 billion.

United said it expects its third-quarter sales would be "the best" among other large, "legacy" airlines once all results are in.

"Having successfully executed our initial crisis strategy, we're ready to turn the page on seven months that have been dedicated to developing and implementing extraordinary and often painful measures, like furloughing 13,000 team members, to survive the worst financial crisis in aviation history," Chief Executive Scott Kirby said in a statement.

The company hopes to bring back furloughed employees and "emerge as the global leader in aviation," he said.

United has raised more than $22 billion since March through debt offerings, stock, and Cares Act relief, it said.

Liquidity stood at $19.4 billion at the end of the third quarter. It reduced operating costs by 59%, it said.

Delta Air Lines Inc. (DAL)reported third-quarter results Tuesday, (https://www.marketwatch.com/story/delta-air-lines-stock-drops-after-loss-widens-revenue-falls-more-than-expected-2020-10-13)showing a wider-than-forecast loss and a 76% revenue drop.

-Claudia Assis; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

October 14, 2020 16:55 ET (20:55 GMT)

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