Simon Reports Growth in 2015

Simon plans to redevelop five properties across the country

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Indianapolis-based Simon Property Group (NYSE: SPG) is reporting Funds from Operations of $3.5 billion in 2015, up from $3.2 billion the previous year. The company is also reporting net income of $1.8 billion in 2015, up from $1.4 billion in 2014.

Along with the annual earnings, Simon is reporting fourth quarter 2015 FFO of $866.5 million, down from $896.7 million during the same period in 2014. Net income for the fourth quarter was $392 million, down from $405 million during fourth quarter 2014.

"I am very pleased to report another year of industry-leading growth with record earnings and dividends for our company," said Chief Executive Officer David Simon. "Over the last five years, our FFO and dividends per share have achieved compound annual growth rates of 14% and 18%, respectively. We expect to achieve industry-leading growth again in 2016, driven by our unparalleled execution, irreplaceable assets and fortress balance sheet." 

You can click here to read Simon’s full report.