The nation’s largest shopping mall operator is now also the country’s largest real estate company.
The Indianapolis Business Journal reported today that Indianapolis-based Simon Property Group is the only real estate company listed on the Standard & Poor’s 100 Index, a listing of the nation’s largest and most established companies including Apple, Coca-Cola and McDonald’s.
A Simon spokesman says a recent enterprise value of $65 billion as calculated by Yahoo Finance understates its true enterprise value, which Simon estimates at $85 billion.
The IBJ says that makes Simon worth more than Starbucks ($42 billion), Nike ($48 billion) and News Corp. ($55 billion).
In April, the company reported a 9.7 percent increase in revenue, to $1.12 billion and increased its quarterly dividend to $1 per share.