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4-Traders Homepage  >  Equities  >  Nyse  >  Simon Property Group    SPG

SIMON PROPERTY GROUP (SPG)
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Simon Property To Develop Outlet Centers In Brazil

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04/10/2012 | 12:53pm CEST

Simon Property Group Inc. (>> Simon Property Group, Inc) joined forces with Brazil's largest shopping center operator, BR Malls Participacoes SA (BRML3.BR), to develop and own Outlet Centers in Latin America's largest nation.

The joint venture will be equally and jointly owned by Simon Property and BR Malls to develop and own outlet centers across Brazil. The first outlet center of the joint venture is expected to be open in the country's largest state of Sao Paulo in 2013, the companies said in a joint statement late Monday.

According to the local financial newspaper Valor Economico, the companies plan to invest a total of 1.5 billion Brazilian reais ($825 million) to open 12 out lets centers until 2019.

"We already welcome large numbers of Brazilian visitors to our outlet centers in the United States, such as Woodbury Common Premium Outlets, Orlando Premium Outlets and Sawgrass Mills, and we look forward to also serving these valued shoppers in Brazil," said John Klein, President of Simon's Premium Outlets division.

-By Rogerio Jelmayer, Dow Jones Newswires; 55-11-3544-7071; [email protected]

Stocks mentioned in the article : Simon Property Group, Inc
Stocks mentioned in the article
ChangeLast1st jan.
BR MALLS PARTICIPACOES 0.00% 10.5 End-of-day quote.-16.73%
SIMON PROPERTY GROUP 0.45% 159.49 Delayed Quote.-8.56%
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Financials ($)
Sales 2018 5 563 M
EBIT 2018 2 834 M
Net income 2018 2 327 M
Debt 2018 25 449 M
Yield 2018 4,97%
P/E ratio 2018 22,18
P/E ratio 2019 21,62
EV / Sales 2018 13,5x
EV / Sales 2019 13,0x
Capitalization 49 394 M
Chart SIMON PROPERTY GROUP
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Simon Property Group Technical Analysis Chart | SPG | US8288061091 | 4-Traders
Technical analysis trends SIMON PROPERTY GROUP
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 185 $
Spread / Average Target 16%
EPS Revisions
Managers
NameTitle
David E. Simon Chairman & Chief Executive Officer
Richard S. Sokolov President, Chief Operating Officer & Director
Andrew A. Juster Chief Financial Officer & Executive Vice President
David Schacht Chief Information Officer & Senior Vice President
Karen N. Horn Independent Director
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