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
$83.22
0.65 (0.79%)
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: She said Tesla could hit $15,000 a share, and then billions of dollars came pouring in to her fund

3:43 pm ET October 24, 2020 (MarketWatch)
Print

Shawn Langlois

Back in February, Catherine Wood, founder and chief executive of ARK Invest (ARKK), made the extremely bullish case for Tesla (TSLA) shares to reach $15,000. It's like Amazon (AMZN) 20 years ago, she said. We all know how that turned out.

The Elon Musk faithful cheered her. The haters bashed her. Typical stuff.

Of course, even after the stock split 5-for-1, Tesla is nowhere near that eye-popping number at the moment, but it has, indeed, enjoyed an astonishing run, rallying some 425% year-to-date. As you can see, Wood's fund has, understandably, risen nicely along with it. Her portfolio counts Tesla, at 10%, as is its biggest holding by a wide margin:

Josh Brown of Ritholtz Wealth Management, having spent time with Wood at a conference in New York City last year, said that he found her to be "serious, courageous and intellectually curious."

That, however, didn't stop Brown from taking issue with Wood for taking ARK Invest in a "trollingly bizarre direction" with this recent tweet that he criticized for "smashing value investors, innovation doubters and other nonbelievers over the head":

"No one likes a sore winner, Cathie," Brown wrote of the video. And she has been a winner, no doubt. The performance can't be denied, and Brown illustrated her success by showing just how much her assets under management have surged in recent years to top $10 billion:

Brown, who has taken a step back from Twitter (TWTR) , acknowledged that a strong social-media presence has clearly helped raise ARK's profile,

"I've basically deleted my presence there, best decision of my life. Never been happier," Brown wrote in a post on his Reformed Broker blog (https://thereformedbroker.com/2020/10/19/well-this-is-something/). "She's ridden the wave of fame that's come along with her ultra-bullish Tesla position into a full-fledged cult following."

Of course, as anybody who's spent much time bouncing around Twitter can attest, that kind of "following" can turn dark in a hurry.

"Now she's got to contend with the TSLAQ crowd AND the millions of beleaguered old school value people who have nothing to show for all their self-flagellation over the last decade," he said. "Why stomp on a hornet's nest that's already fallen out of its tree and been dashed on the ground?"

Value has certainly been "dashed to the ground" in recent years. According to Morningstar, the average U.S. large company "value" mutual fund has lost 8% so far this year while the average "growth" fund is up a whopping 27%. This separation has been going on for years, with growth funds outperforming value since as far back as 2007, data shows.

Read:Tech innovation is changing the world -- this fund manager is betting big on it (https://www.marketwatch.com/story/tech-innovation-is-changing-the-world-and-this-fund-manager-has-big-bets-on-how-its-going-to-work-2019-12-11?mod=article_inline)

Both growth and value came under pressure in Monday's trading session, with the Dow Jones Industrial Average , tech-heavy Nasdaq Composite and S&P 500 all moving firmly lower to start the week.

Read:Value stocks 'worst for 100 years' (https://www.marketwatch.com/story/value-stocks-worst-for-100-years-11603116927)

ARK Invest, which bills itself as a firm focused solely on "disruptive innovation" with companies like Roku (ROKU) and Slack (WORK) joining Tesla among its top holdings, didn't immediately respond to a request for comment.

-Shawn Langlois; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

October 24, 2020 15:43 ET (19:43 GMT)

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