INDIANAPOLIS, Dec. 12, 2013 /PRNewswire/ -- Simon Property Group (NYSE: SPG), a global leader in retail real estate, will be celebrating the twentieth anniversary of its initial public offering on Friday, December 13.
This milestone commemorates a track record of sector-leading performance within the real estate industry, including growth in key metrics since December 1993:
- Growth in Funds From Operations (FFO), the industry's measure of profitability, from $150 million to more than $3 billion in 2013
- Increase in total consolidated revenue from $434 million to more than $5 billion in 2013
- Equity market capitalization was $1.8 billion and has grown to approximately $54 billion as of December 12, 2013 market close
- Total shareholder return over these two decades was 1,855%, a compound annual growth rate of 16%, which significantly exceeds the real estate index (MSCI U.S. REIT) and broad market index (S&P 500).
Since the IPO of Simon Property Group in December 1993, the company has delivered on a strategy that has resulted in becoming the largest publicly traded company in the global real estate industry by market capitalization.
"I couldn't be more proud about what we've been able to accomplish in the twenty years since we became a public company," said David Simon, Simon Property Group Chairman and CEO. "We are fortunate to have an incredibly talented and committed team, who helped us grow from a collection of local retail assets established by our founders in 1960 to a global portfolio in retail real estate with quality properties in top markets including some of the most iconic and productive shopping destinations in the world."
To mark the anniversary, Simon Property Group is holding company events and employee recognition activities across multiple company locations. David Simon and Herbert Simon together announced a significant gift to the Simon Youth Foundation, an independent not-for-profit organization that provides scholarships and alternative education for at-risk students at locations based in Simon malls, to help them graduate and succeed.
About Simon Property Group
Simon Property Group, Inc. (NYSE: SPG) is an S&P 100 company and a global leader in the retail real estate industry. The Company currently owns or has an interest in more than 325 retail real estate properties in North America and Asia comprising approximately 242 million square feet. We are headquartered in Indianapolis, Indiana and employ approximately 5,500 people in the U.S. For more information, visit simon.com.
SOURCE Simon Property Group, Inc.