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CLAIM #54465 · SPG (SPG) · 2023Q1 earnings call · May 2, 2023 · due Dec 31, 2023

Yeah. I think that's a reasonable number, yes, in that range.

David Simon · CEO

PENDING
graded after results covering Dec 31, 2023 are reported

In context

ake a lot, would be a few years down the road, but I don't see any reason why -- we certainly should try to strive to get up there if we can do it accretively in this kind of the 7% to 8% range, but that would be roughly $500-plus million of NOIs. So it's not -- it's going to take time. Linda Tsai: Thank you. David Simon: Thank you. Operator: Thank you. The next question -- the final question comes from Haendel Juste from Mizuho. Please proceed with your question. Haendel Juste: Hey, there, thanks for letting me back in. I wanted to get to the second part of my question, and then I have one more. So the second part of my earlier question was, if you are expecting new lease volume to be about 25% of the overall leasing volume as it were in the first quarter over the near term? David Simon: Yeah. I think that's a reasonable number, yes, in that range. Haendel Juste: Okay. And then the second question I have was on foot traffic. We saw some recent placer foot traffic data for March, indicating that year-over-year foot traffic at enclosed retail malls is down 8% year-over-year in March. I'm curious if you're seeing similar trends at your properties? And if you think that's a reflection of the consumer and that's coming up in lease negotiations in the current environment? Thanks. David Simon: Well. Yeah, that's -- I'm glad you asked that because I have -- we keep track of that ourselves. And just to give you March over March -- '23 over March '22, we are 105.5% for malls, 105.6% for mills and 120.2% for outlets for 108% above last year this time. In January and February, we were actually much higher month-over-month. So, we -- for our por

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SEC filings for SPG · Claim quote is verbatim from the 2023Q1 earnings call.