Latest news with #SPG
Yahoo
6 days ago
- Business
- Yahoo
Time to Go Short on Simon Property Group (SPG)?
Parnassus Investments, an investment management firm that focuses on owning a concentrated portfolio of U.S. large cap stocks, released its Parnassus Value Equity Fund second-quarter 2025 investor letter. The full letter is available for download here. For the second quarter of 2025, the fund reported a net return of 7.24%, outperforming its benchmark, the Russell 1000 Value Index, which returned 3.79% for the same period. The fund's top 5 holdings are also listed in the letter, showing the firm's main investment positions heading into 2025. One of the companies mentioned in the letter is Simon Property Group Inc (NYSE:SPG). Simon Property Group Inc (NYSE:SPG) is a self-administered and self-managed real estate investment trust. Over the past month, Simon Property Group Inc (NYSE:SPG) rose by 4.62%, and its shares gained 10.53% of their value over the last 12 months. On August 12, 2025, Simon Property Group Inc (NYSE:SPG) shares closed at $169.22, with a market capitalization of $63.8 billion. Here is what they have to say about Simon Property Group Inc (NYSE:SPG) in their investor letter: "Simon Property Group Inc (NYSE:SPG) has reached the upper end of its valuation range. We believe the valuation does not reflect the uncertainty around consumer spending and the potential impact of tariffs on retail tenants." An ambitious looking property developer discussing plans for a new development with an enthusiastic client. Simon Property Group Inc (NYSE:SPG) is not included in our list of the 30 most popular stocks among hedge funds. According to our data, 47 hedge fund portfolios held positions in Simon Property Group Inc (NYSE:SPG) at the end of the first quarter of 2025, up from 40 in the previous quarter. SPG was able to beat earnings expectations as it reported an EPS of $3.05, beating expectations of $3.04. While we acknowledge the potential of SPG as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. In another article, we covered Simon Property Group Inc (NYSE:SPG) and Goldman Sach's views on the company. In addition, please check out our hedge fund investor letters Q2 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
6 days ago
- Business
- Yahoo
Realty Income vs. Simon Property: Which REIT Wins the Dividend Battle?
Income-focused investors often look to real estate investment trusts (REITs) for steady and growing dividend streams. Two of the largest and most prominent names in the sector — Realty Income Corporation O and Simon Property Group, Inc. SPG — offer appealing income profiles supported by substantial real estate portfolios. Realty Income is renowned for its monthly dividend and diversified global net-lease portfolio, while Simon stands out as a premier owner of high-end retail, dining and entertainment destinations. Both have proven their ability to generate reliable cash flows, but their business models, growth prospects and dividend characteristics differ in ways that matter to long-term investors. Let's break down the investment case for both, comparing their portfolios, dividend reliability, balance sheets and long-term outlooks, and arrive at a conclusion of which stock to retain and which one to let go. The Case for Realty Income Realty Income, known as The Monthly Dividend Company, has established itself as a premier global net-lease REIT with solid dividend consistency, 661 consecutive monthly payouts and more than 30 years of increases. Its portfolio spans 15,600+ properties across all 50 U.S. states, the U.K. and seven other countries in Europe, leased to 1,630 clients in 91 industries, with around 90% of rent derived from non-discretionary, low-price-point or service-oriented tenants. This tenant mix, combined with long-term triple-net leases, underpins predictable rental income and minimizes volatility. Check Realty Income's dividend history Income's second-quarter 2025 results reflected its hallmark stability. AFFO per share was $1.05, supported by a 98.6% occupancy rate and rent recapture above 103%. Management noted healthy leasing trends and $1.2 billion investment activity during the quarter, with 76% in Europe, at yields above 7%. Credit ratings of A3/A- and $5.1 billion in liquidity reinforce financial management has increased its 2025 investment volume guidance to approximately $5 billion and raised the low end of its AFFO per share guidance ($4.24-$4.28 compared with $4.22-$4.28 guided earlier), its outlook incorporates 75 basis points of potential rent loss, higher than its historical experience. A significant portion of this credit loss stems from tenants brought in through M&A deals the company has completed in recent for Realty Income, growth is largely acquisition-driven, making performance sensitive to financing conditions. While international diversification reduces U.S. macro risk, it adds exposure to currency fluctuations. Compared with SPG, Realty Income's earnings profile is more predictable but less leveraged to consumer spending surges. In a strong economy, Simon's rent and occupancy gains can outpace O's steady but slower short, Realty Income excels in delivering consistent monthly dividends with minimal volatility, making it a solid defensive holding. However, its upside potential is inherently capped relative to Simon's more economically sensitive portfolio. The Case for Simon Property Group Simon Property Group is the behemoth in the U.S. retail REIT industry, owning and operating premier malls, premium outlets and mixed-use properties across North America, Europe and Asia. Its assets consistently attract high foot traffic and strong retailer sales, averaging $736 per square foot over the past 12 months. This portfolio quality drives rental growth, with base rent rising 1.3% year over year to $58.70 per square foot and occupancy climbing to 96% as of the second quarter of 2025. SPG also noted that 30% of second-quarter leasing activity was new deals, and around 90% of its leases expiring through 2025 are complete, which is ahead of this time last the second quarter, SPG generated Real Estate FFO per share of $3.05, up 4.1% year over year, and raised full-year guidance to $12.45-$12.65 from $12.40-$12.65 guided earlier. Domestic property NOI increased 4.2%, reflecting resilient tenant demand. The company also boosted its quarterly dividend to $2.15, a 2.4% increase from the prior payment, positioning it among the highest-paying REITs in absolute terms. This retail REIT has increased its dividend 13 times in the past five years, and its payout has grown 11.69% over the same period. This spate of dividend increases brings relief to investors and reaffirms confidence in this retail landlord. Check Simon Property's dividend history A-rated balance sheet and $9.2 billion in liquidity support redevelopment projects, selective acquisitions and debt management, such as its recent acquisition of full ownership in Miami's Brickell City Centre retail and parking facilities, expanding its footprint in a prime market. While SPG offers substantial income and potential for capital appreciation, it carries higher cyclical risk than Realty Income due to reliance on discretionary retail. Consumer spending slowdowns, retail bankruptcies and e-commerce competition pose ongoing to Realty Income, SPG delivers a higher nominal dividend and potentially faster growth in favorable market conditions, but with greater volatility. For investors willing to accept cyclical swings, SPG offers a compelling, high-yield play on premium retail real estate. How Do Estimates Compare for Realty Income & Simon Property? The Zacks Consensus Estimate for Realty Income's 2025 sales and funds from operations (FFO) per share implies year-over-year growth of 5.84% and 1.91%, respectively. However, FFO per share estimates for 2025 and 2026 have been trending marginally southward over the past 30 days. Image Source: Zacks Investment Research For Simon Property, the Zacks Consensus Estimate for 2025 sales and FFO per share implies year-over-year growth of 2.62% and a decline of 3.70%, respectively. What is encouraging is that FFO per share estimates for 2025 have moved north over the past week, though the same for 2026 have declined. Image Source: Zacks Investment Research Price Performance and Valuation of O & SPG Year to date, Realty Income shares have risen 7.5%, while Simon Property stock has declined 4.1%. In comparison, the Zacks REIT and Equity Trust - Retail industry has dropped 9%, while the S&P 500 composite has rallied 8.5% in the same time frame. Image Source: Zacks Investment Research O is trading at a forward 12-month price-to-FFO, which is a commonly used multiple for valuing retail REITs, of 13.18X, ahead of its one-year median of 13.15X. Meanwhile, SPG is presently trading at a forward 12-month price-to-FFO of 13.00X, which is comfortably below its one-year median of 13.27X. Image Source: Zacks Investment Research Conclusion Both Realty Income and Simon Property Group are proven dividend performers with disciplined management and strong tenant relationships. Realty Income offers unmatched consistency, ideal for risk-averse investors. However, Simon's premier assets, redevelopment-driven growth and greater earnings leverage in strong economies position it as the stronger dividend play. Given the estimate revisions for O and SPG and valuation, rotating out of Realty Income into SPG could be the more rewarding move for investors seeking a blend of yield and upside and maximizing long-term income SPG carries a Zacks Rank #3 (Hold), O has a Zacks Rank #4 (Sell). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks Anything related to earnings presented in this write-up represent funds from operations (FFO) — a widely used metric to gauge the performance of REITs. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Simon Property Group, Inc. (SPG) : Free Stock Analysis Report Realty Income Corporation (O) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
India Today
12-08-2025
- Politics
- India Today
What happens to Z+ security of leaders after they are detained, arrested?
On Monday, New Delhi witnessed a high-voltage protest when nearly 300 Opposition MPs tried to march to the Election Commission office over "vote theft" allegations. They were stopped midway by the Delhi Police, who detained the leaders and put them on a bus. Among those detained were Leader of the Opposition in the Lok Sabha Rahul Gandhi, Congress chief Mallikarjun Kharge, MP Jairam Ramesh, and Trinamool Congress MPs Mahua Moitra and Mitali in situations like this, what exactly do the security personnel, of varying categories, namely, X, Y, Y-plus, Z, Z-plus, or Special Protection Group (SPG), do when the police are physically removing the very individuals they are responsible for safeguarding?Take Rahul Gandhi, for example, who has Z-plus security cover. What happens at such a moment? Who is ultimately responsible for the leader's safety? How do these security teams react during detention? And once the Opposition MPs were taken to a place like the Parliament Street Police Station, what were their roles? Do they ever intervene in the process? To find out, India Today Digital spoke to a senior serving IPS officer and a former Central Reserve Police Force (CRPF) officer who served in the Special Protection Group (SPG). The SPG provides cover to the highest security category in India, whose sole protectee at present is PM Narendra Modi. Before 2019, other than the PM, three Gandhi family members also had SPG cover for 28 INDIA'S VIP SECURITY TIERS ARE STRUCTURED FROM X TO SPGIndia's security cover for high-risk individuals is divided into six tiers: X, Y, Y-plus, Z, Z-plus, and SPG. Each tier is tailored to the threat level assessed by the Ministry of Home Affairs (MHA) based on inputs from intelligence agencies like the Intelligence Bureau (IB) and Research & Analysis Wing (R&AW).The X category provides two armed police personnel, no Y category includes eight personnel, with one or two Y-plus category involves 11 personnel, including two to four Z category mandates the deployment of 22 personnel, including four to six National Security Guard (NSG) commandos, while Z-plus, the highest non-SPG tier, involves 55 personnel, including over 10 NSG commandos, a bulletproof car, and escorts in three the top is the SPG. It is an elite force under the Cabinet Secretariat, which exclusively protects the Prime Minister and, in some cases, their immediate family, with highly trained personnel and classified MHA decides these categorisations, often for ministers due to their positions, but private individuals also receive cover based on specific threat from the CRPF, Central Industrial Security Force (CISF), Indo-Tibetan Border Police (ITBP), and NSG implement these protocols. The CRPF and the CISF collectively secure around 350 VIPs, 35 of whom are under the Z-plus situations where individuals being guarded by personnel from multiple security agencies are detained, there is a well-defined protocol and their actions are HAPPENS TO VIP SECURITY WHEN LEADER IS DETAINED OR LATHICHARGED UPON?A serving senior IPS officer, speaking to India Today Digital, explained, "If the person with VIP security is arrested, the security personnel remain outside the police station premises. After the individual's release, the police or security personnel report back to the person."While a high-value individual being guarded in detention remains under the custody of the detaining agency, their security personnel coordinate closely with that agency."Once the arrested or detained person is released, the security detail immediately resumes full charge of their protection," the senior IPS officer CRPF officer who served in the SPG elaborated, saying, "The security personnel provided to the politicians with Z+ cover are from the Central Armed Police Force (CAPF, not state police services). They will protect the person they are assigned to, but won't take any step that comes in the way of the police or any civilian authority".But what happens in the case the politician is part of a crowd being lathicharged by the police?advertisement"Security officers try to protect the leader, but won't do anything that might end up injuring the police personnel. The officials in the security detail are mostly aware of the politician's movements and plans, including of protests, well ahead," the officer, who was once on SPG duty, there are times when a politician takes them by surprise, and the security personnel then have to act impromptu."In case a politician is being detained, the officers in their security detail won't step in, but move to secure the vehicle and premises where they are kept," the CAPF officer told India Today Digital."The security officers work in close coordination with the police, and are kept updated. So, when such a detained leader is released from custody, they assume responsibility for their cover right from the police station," he when leaders like Rahul Gandhi, under Z-plus security, are detained, their CAPF personnel maintain protection without interfering with police actions. They would have secured the area and coordinated with the Delhi Police. Once released, Rahul's security would have resumed full security delicate balance ensures the safety of high-value individuals while respecting legal processes. It also shows the disciplined coordination between the CAPF, the local police and other law enforcement agencies who all are discharging their duties.- Ends(With inputs from Priyanjali Narayan) advertisement
Indian Express
07-08-2025
- Politics
- Indian Express
Meet Adaso Kapesa, the first woman officer in the Special Protection Group (SPG), responsible for PM Narendra Modi's security
When Prime Minister Narendra Modi visited the UK recently, a striking image went viral, not of the Prime Minister himself, but of a poised woman officer standing right behind him. Meet Adaso Kapesa, the first-ever woman officer in the Special Protection Group (SPG), India's most elite security force tasked with protecting the Prime Minister. The SPG, known for its precision, secrecy, and high-stakes assignments, rarely makes headlines about its personnel. But Kapesa's inclusion has done just that, challenging norms and setting a powerful precedent for women across India aiming for careers in elite security roles. From a remote village in Manipur to standing behind the PM as part of the SPG – what a journey! Saluting Inspector Adaso Kapesa for rewriting what's possible for Indian women in uniform. @narendramodi @PMOIndia — Manasi Kirloskar Tata (@M_KirloskarTata) August 4, 2025 Kapesa joins a global league of pioneering women in security. Kimberly Cheatle, the former US Secret Service Director, rose from trainee to Director of the US Secret Service in a 30-year career. Though she resigned after the failed assassination attempt on former President Trump, she left behind an enduring legacy of leadership. Back home, Tamil Nadu is also leading change. Since March 2022, trained women police personnel have been part of Chief Minister MK Stalin's core security team. These officers are trained in unarmed combat, firearms, and bomb detection, a model that other states are slowly beginning to replicate. The story of Veena Gupta, India's first female bodyguard, also resonates in this context. Having founded Seam Group Services, which provides security for firms like Adobe, Barclays, and Bell Helicopter, Gupta recalls her unconventional journey: 'Most people would expect a protection officer to be physically bulky. I am neither. I don't look intimidating—but that's exactly what gives me the edge,' she told Deccan Chronicle, referencing her work with the Prince of Hungary during Liz Hurley's wedding in India. Women like Adaso Kapesa are proving that elite security roles are no longer defined by gender but by excellence, adaptability, and courage. As India redefines its security apparatus, Kapesa stands tall, not just behind the Prime Minister, but at the forefront of change.
Yahoo
06-08-2025
- Business
- Yahoo
Simon Property Q2 FFO Beats Estimates on Higher Revenues & Occupancy
Simon Property Group, Inc.'s SPG second-quarter 2025 real estate funds from operations (FFO) per share of $3.05 surpassed the Zacks Consensus Estimate of $3.04. This compares favorably with the real estate FFO of $2.93 a year ago. Results reflect an increase in revenues, backed by a rise in the base minimum rent per square foot and occupancy levels. SPG raised its guidance for 2025 real estate FFO per share at the midpoint. Simon Property generated revenues of $1.50 billion in the quarter, which missed the Zacks Consensus Estimate of $1.51 billion. However, the reported figure increased 2.8% year over year. According to David Simon, the chairman, CEO and president of Simon Property Group, "We delivered another successful quarter, driven by the quality of our portfolio and disciplined execution.' He further added, 'Our strategic investments and A-rated balance sheet position us for sustained long-term cash flow growth. Today, we are raising our dividend and increasing the mid-point of our full-year 2025 Real Estate FFO guidance.' SPG's Second Quarter in Detail SPG reported revenues from lease income of $1.38 billion, 4.8% higher than the prior-year period's figure. Our estimate was pegged at $1.36 billion. As of June 30, 2025, the occupancy for the U.S. Malls and Premium Outlets portfolio came in at 96%, up 40 basis points from 95.6% as of June 30, 2024. We projected the metric to be 95.7%. The base minimum rent per square foot for the U.S. Malls and Premium Outlets portfolio was $58.70 as of June 30, 2025, rising from $57.94 as of June 30, 2024. This reflected an increase of 1.3%. Domestic property net operating income (NOI) increased 4.2% year over year, and portfolio NOI rose 4.7%. SPG's Portfolio Activity In June 2025, Simon Property acquired its partner's stake in the retail and parking facilities at Brickell City Centre in Miami, FL. The company now wholly owns the asset. Balance Sheet Position of SPG Simon Property exited the second quarter of 2025 with $9.2 billion of liquidity. This comprised $1.8 billion of cash on hand, including its share of joint venture cash and $7.4 billion of available capacity under the company's revolving credit facilities. SPG's Outlook for 2025 Simon Property has narrowed its outlook for 2025 real estate FFO per share. The company now expects the same to be between $12.45 and $12.65 from the earlier guided range of $12.40-12.65, raising the midpoint to $12.55. The Zacks Consensus Estimate of $12.45 lies at the lower end of the range. SPG's Dividend Update Concurrent with its second-quarter earnings release, Simon Property announced a quarterly common stock dividend of $2.15 for the third quarter of 2025. This marks an increase of 4.9% year over year. The dividend will be paid out on Sept. 30 to shareholders of record as of Sept. 9, 2025. SPG's Zacks Rank Currently, SPG carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Simon Property Group, Inc. Price and EPS Surprise Simon Property Group, Inc. price-eps-surprise | Simon Property Group, Inc. Quote Performance of Other Retail REITs Regency Centers Corporation REG reported second-quarter 2025 NAREIT FFO per share of $1.16, outpacing the Zacks Consensus Estimate of $1.12. The figure increased 9.4% from the prior-year quarter. REG's results reflected healthy leasing activity. During the quarter, same-property and base rents improved year over year. Kimco Realty Corp. KIM reported second-quarter 2025 FFO per share of 44 cents, beating the Zacks Consensus Estimate of 43 cents. The metric rose 7.3% from the year-ago quarter. Results reflected higher same-property NOI due to a rise in minimum rents. However, lower occupancy owing to tenant bankruptcies and higher interest expenses acted as dampeners. Note: Anything related to earnings presented in this write-up represents FFO, a widely used metric to gauge the performance of REITs. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Simon Property Group, Inc. (SPG) : Free Stock Analysis Report Kimco Realty Corporation (KIM) : Free Stock Analysis Report Regency Centers Corporation (REG) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
